Competitive advantages

The most popular stories in business are the interesting ones. This is why we hear so much about world changing technology, billion dollar ideas, blue ocean strategies, and people like Gavin Belson. They are interesting and have a novelty to them.

Because these make up the majority of stories we hear, it seems the only way to compete is to have an idea that's never been thought, be smarter than the competition, or develop world changing technology with which no one could possibly compete. But the honest truth is these are a tiny fraction of actual success stories, and aren't representative of most competitive advantages that drive businesses across the country.

It isn't nearly as fun to talk about, but some of the most effective and reliable competitive advantages come from the basics. This is true for business and employees alike. It's incredibly common to derive real, material advantages against competition by doing what you said you'd do, being honest, replying quickly, and having things done when you said you would.

The Business Case

From a business perspective, it seems obvious. But a competitive moat gets created when these basic blocking and tackling actions are able to compound over time. Think about a bad experience at a restaurant, a plumber not calling back, or the coffee shop getting an order wrong. These have real implications. Multiply these mistakes by the number of customers they've happened to, apply some percentage that assumes some customers won't return because of them, and you get a material amount of revenue lost due to not getting the easy stuff right.

[Mistakes per day * % of customers that won't return * LTV per customer]

=

Real money lost from not doing the easy things

The Employee Advantage

From an employee perspective, it seems even more obvious. Anyone who's ever worked, well, anywhere really, can attest that unfortunately it's rare to have a coworker that responds quickly and accurately, holds their word, is friendly, and acts honestly, in good faith. Finding these employees is one of the best feelings in the workplace. A breath of fresh air. Being that employee, from what I can tell, is the most reliable way to climb the ladder, gain responsibility, trust, and build a strong brand for yourself.

It isn't a coincidence the folks I most enjoy working with are the ones that seem to attract responsibility, which garners visibility from leadership, which leads to more responsibility, etc. It's a self-fulfilling prophecy that, when mixed with hard work and a little talent, results in the purest and most reliable competitive advantage out there — doing the easy stuff.

The Easy Stuff

• Show up early
• Be respectful
• Do quality work, consistently
• Hold your word
• Own your mistakes
• Respond quickly
• Respond accurately
• Be honest
• Be kind