In this episode of the Authentic Advisor, James Mason discusses competitive advantage with Jonathan Coles and Iain Good from Premiumisation Partners. They explore the importance of understanding customer value, defining competitive advantages, and aligning team perspectives to enhance business success.

The conversation emphasises the need for businesses to engage with their customers, challenge internal perceptions, and continuously adapt their strategies based on customer insights.

Key Insights

• The best competitive advantage is what customers truly value.
• Understanding customer perceptions is crucial for defining advantages.
• Engaging with customers helps identify what they value most.
• Alignment within teams can significantly impact profitability.
• Research doesn't have to be expensive; simple conversations can yield insights.
• Identifying what not to do is as important as knowing what to do.
• Continuous alignment with customer values is essential for success.
• Facilitating discussions can help bridge gaps in understanding.
• Investing time in understanding customer needs is vital.
• A strong business DNA drives innovation and customer loyalty.

Chapters

00:00 Introduction to Premiumisation Partners

03:01 Defining Competitive Advantage

06:35 Understanding Customer Value

11:06 Identifying Competitive Advantage

15:10 Aligning Team Perspectives

18:46 Challenging Internal Perceptions

22:28 Cascading Strategy into Business

24:54 Final Tips for Advisors