Lets start with the title of this post again… Advantage is not useful if you don’t take it… People pass over profound things too fast. Sometimes in our drive to think fast and move fast we don’t absorb enough value out of quality things. Let’s look at advantage.
Everyone thinks that if they just get a little advantage over their competition they will win…Wrong. Say you build an awesome new lead capture system and then fail to follow up on the leads. Look at Netflix, they created an advantage over Blockbuster and then didn’t seal the deal. Blockbuster returned the favor by presenting a weak attempt at poking the eye of Netflix when their common business sense went AWOL. Blockbuster should have launched a $9,99 one or two video in the mail service. Even if it was a break even or slight loss, they could have put a nail in their biggest competitor’s coffin. Missed Opportunity.
Advantage is not useful if you don’t capitalize on it. Netflix should have offed Blockbuster by teaming up with Redbox or creating their own Netflix boxes so people could exchange movies more often and then they could hurt both Blockbuster and Redbox. Redbox has the website, now they should work on streaming, or mail delivery. Each of these business structures is vulnerable to a reduction or removal of competitive advantage yet they are so in love with their own concept that they miss the opportunity to use their advantage. I wonder if companies would hire outside strategists to consult CEOs, sounds like a job I would do…
The point is that sometimes you build a business around advantages that you never leverage and take advantage of. An advantage is not an advantage if you don’t take advantage of your advantage.