A company should periodically calibrate its business and operational strategy to sustain competitive advantage. It is a recommendation for already established companies.
In the case of a startup, the company is just entering the market. Therefore, the relevant question in the context of a company entering the market is how to secure a competitive advantage over companies already providing goods and services.
A startup seeks to secure a competitive advantage by comparing its market positioning and value chain with incumbent companies. A startup is at the edge here. It has the opportunity to design the value chain that will enable it to be not just operationally more efficient but enable the company to build the value chain that will help it secure a competitive advantage.
As a startup, you will be approached by consultants selling you six Sigma, IT software, and business process design capability, all sold in the name of transformation. All these are great offers, but they only lead to operational efficiency. Competitive advantage is secured by designing a value chain that will take your company one step higher than your competitors.
Please undertake a value chain mapping exercise, and test each value chain component for optimal performance. Such an exercise can be facilitated by a business strategist who is experienced in mapping, comparing,