Anything that is worth copying will be copied, so how do you establish an advantage? By building something that cannot easily be copied or bought.
New business ventures often face the challenge of how to be truly differentiated. In his book Running Lean, Ash Maurya offers a new take on differentiation by introducing the concept of unfair advantage. He quotes Jason Cohen: “A real unfair advantage is one that cannot easily be copied or bought.”
The leadership team at Avondale has been discussing a potential new venture around private equity (PE) investing. We want to help investors dissatisfied with the traditional private equity model link up with businesses that want to grow but require capital and management transformation.
We set a goal of writing down this business model in 20 minutes, because we do not want to waste time on something that absorbs resources but creates no value. We’ve already summarised the key elements of the 20-minute business model and identified our target customers and channels. We also defined our Unique Value Proposition and proposed solution, as well as our revenue streams, costs and key metrics.
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