is your advantage superior and sustainable?. objectives examine your competitive advantage at the...
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Is your advantage superior and sustainable?
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Objectives• Examine your competitive advantage at
the opportunity identification phase of your new venture creation activities
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MacroeconomicChange
Entrepreneurial Motivation
Entrepreneurial Behavior
Industry
Condition
IndustryStatus
Opportunity Identification
ProblemSolutionAdvantageTeam
ValueInnovation
Competition
The Opportunity Analysis CanvasTM
Entrepreneurial Mindset
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Building competitive advantage• Begin with a customer-validated
perspective on the problem for your planned solution
• Invest time and resources into building the venture
• To understand your advantage versus competitors, consider the: – Degree of the advantage; and the – Sustainability of that advantage.
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The degree of your advantage?• A product or service with better features or
functions• A sustainably lower price for the customer
based on the value created for them– Due to your operations or other cost control
strategies
• A rareness factor, meaning that competitors cannot offer the same set of values to this customer
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The sustainability of your advantage?• Sustainability determines the likelihood of
competitors replicating or surpassing your venture
• How easily can a competitor copy/exceed your – Resources, – Know-how, – Operations, – Relationships– etc.?
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Sources of competitive advantageSpecialization
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Sources of competitive advantageSpecialization
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• Taiwan’s KKBOX’s competitive advantage against Western competitors like Spotify is its ability to sign local music labels
kkbox.com
Sources of competitive advantageLocalization
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Sources of competitive advantageTeam• CTO: Past CTO & co-founder of an electric aircraft platform company• CFO: Past CFO for Ford of Southern Africa ($3B)• Chief Designer: Past Director of Design at the Mazda North American
Design Center. Past designer with GM and Volkswagen.• VP of Manufacturing: Past production lead with Lexus, Toyota, Volvo,
and Renault (350,000+ vehicles/yr.)• VP of Supply Chain: Past CPO for Sony Ericsson• VP of Human Resources: Director of staffing operations for Google
teslamotors.com
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Summary• Competitive advantage depends on its degree and sustainability– Are you significantly better, cheaper, rarer, etc.?– How will you maintain or improve your position?
• Explore sources of competitive advantage– Specialization– Localization– Team– Etc.