Execution is king
Ideas are a dime a dozen, execution is the key.
Rarely is your idea going to be a completely original one; and if it is
a good one, be sure that someone else is probably thinking the same
thing. But you differentiate through execution. And really, execution
is the hard part. Being able to execute an idea is vital to a business,
and if your business is made up of people that do more walking than
talking, than you are on the right track.
Some specific ways you can use execution to differentiate:
1. Be FIRST: get to market and own the space before someone else. This is what Dowe Egberts did with the Senseo coffee system in Holland. 40% of Dutch homes now have one.
2. OWN the idea: its one thing claim an idea. Its something else to own this space. In the UK Andrex owns the idea of soft, strong toilet tissue, and P&G’s Charmin found it just too tough to take them on. P&G recently put the brand up for sale.
3. Do it with a TWIST: everyone airline wants to offer great customer service, but Virgin do it in a distinctive way