Features are just one of the many components that combine to form a unique product. And even having a marvelously unique product is no guarantee of success. The company itself must also be unique.
What makes a company unique, then? One of the most important factors is the team. Though a team is composed of people, there is more to it than that – there are also their shared values, the culture they share within the company, their performance as individuals and their interactive performance.
These factors are to some extent intangible – but they are def- initely crucial to success. To the degree that each is positive and contributes to the company’s underlying goals and objectives, they are assets. Each should be examined, considered and managed so that all are assets, forwarding the company’s objectives and making the company unique – unique in a positive, successful way. (A company can be uniquely awful, too!)
The tacit, secret, invisible or intangible elements that make a company unique include:
1. Company team – people and culture.
The brilliant idea at the root of a company’s success includes the element of execution. You can have a good idea, but unless executed effectively, it may end up essentially worthless. And who does the execution? The company team. The team’s spirit and the way its members interact can be a start-up company’s biggest assets.
2. The secret idea that makes the company different.
Here we are talking about what your company does differently from existing or traditional companies: the point where competitors fall down, but which you have solved with your brilliant idea. Whatever this difference factor may be, it should be clear, obvious and constantly kept in mind by your team – while being held top-secret from your competitors.
3. The combination of features, brand, look and feel.
This factor embraces all the details, large and small, that comprise your brand, and make your company stand out, with its own unique spirit and soul.
4. Strong partnerships.
Once you’ve identified and established your brilliant idea, you have a solid base on which to build brilliant partnerships. The bigger and stronger the interconnections you create, the greater your potential for success.
In other words, establishing a unique company requires a healthy combination of (a) special product and service features and (b) a dedicated team with a strong culture, working effectively to create and maintain the company’s top secret idea.
“Brilliant idea” defined:
From this point onward, “brilliant idea” will be used to refer to the unique idea that differentiates your company from your competition. The idea is closely tailored to the target market and offers value superior to any of your competitor’s.