The best way to judge the value in your business, according to The Economist, would be to drop what you perceive to be your competitive advantage on your toe and if it hurts then you are driving your business in the wrong direction. If it doesn’t, then you have got your business right. Quite simply it is all about the intangibles in your business – it is all about making your business emotional.
The thing that is possibly most surprising about this is that The Economist wrote that over a decade ago! I first read it in a remarkable book called Funky Business, one of a number of exceptional texts that I have used as my business bibles – like my advisors – to build my own business thinking which has led to everything Community Buying unLimited stands for…true sustainable development.
So I asked a question about Blackberry above, because today they have begun a search for a buyer to save their smartphone operation. Five years ago their share price was over $138 and now it is very near $10. Oh dear. The reason is really simple. It is not because the market is dominated by the iPhone, the Galaxy and other smartphones. It is because Blackberry did not grasp the importance of what was important in their business, they did not change fast enough and they let the others wrestle dominance of the market. They let their competitive advantage slip away and now all they have left is something that will hurt when you drop it on your toe. By comparison what the other smartphones and operating systems have is something that is completely intangible…they are cool.
So my mind turns to the business of heating OIL supply. This is one business that is literally weighed down with tangibles. Archaic by design, I would not want to try out the dropping-on-my-toe test of any competitive advantage any supplier perceives it has over any other supplier. The chances are it would result in one broken toe. CBL can help the supply market completely transform this business dilemma. Our members are our members because we work very hard to save them money and time. We do what we say we are going to do, we protect the vulnerable and we make a stand for the consumer. Trust, loyalty and belief – a trio of intangibles – are our competitive advantage.
Our latest development takes the concept of intangible to a new level…Smart OIL. When it comes to energy, knowledge is without doubt the trump card – the ultimate competitive advantage. Smart OIL empowers all stakeholders with the knowledge of what is in people’s tanks, what their usage is and how many days that OIL will last. Our goal is to work with as large a section of the supply market and our massive membership to literally make OIL smart. The outcome will be something so soft on landing that we’ll be happy to drop it anywhere.