Jack Welch was quoted saying “If you don’t have competitive advantage, don’t compete.” I know he’s a really smart guy but I’m going to disagree with him on this one.
We’ve talked about ways to get in front of clients while ‘not-winning’ their work. It’s time to focus on using that time-out period to check out the competition.
Use the time during a losing streak (waiting/strategizing/hiring/planting seeds to win) to size up your competition. What are they presenting and winning with? How can you counter their statements and make a stronger case? What aren’t they saying and how can you fill the gap?
Firms used to spend a lot more time researching their competition because it wasn’t as easy as a click and page peruse. Websites weren’t always around, (yes, I’m dating myself now) and no one blogged or wrote Linked-In posts that could be interpreted and extrapolated for nuggets of what a competitor might say about themselves in front of a client.
We used to have to TALK to the end user, the sub-consultants and other industry mavens to learn what was said in interviews or in production meetings. The internet is good, but talking to people and gathering information is still the best bet on learning what your competition is up to. Ramp up on your business development time and work the room. Get other opinions and ask tough questions that help you get a leg up next time you go to head to head with that incumbent on your target clients roster.
It’s also a good time to work on that pesky little word “differentiator”. If Jack Welch wants, he is welcome to use my tweak to his quote “If you don’t have a true differentiator from your competition, don’t use the word.” Spend time working through ways to showcase your true differentiator and yes, it’s your people. But that’s not a throw away sentence, it’s an entire presentation.
Its a good time to work on the pesky little word “differentiator”
Jack Welsh
Wrapping up this week of being intentional with how you use your losing-time towards gearing up for a win, I’m confident there has been a thought provoking nugget to put into practice with your team. And yes, we can still agree that losing stinks. But if you turn it into winning (with patience and proactive measures) isn’t that a win in itself? Make sure you communicate all this with your leadership, support teams and your colleagues. It will rally the troops to work together as a whole and take some “win” pressure off your group while they pivot their skillsets on this weeks tips and practice getting stronger for that ultimate win.
Need someone to poke around behind the curtain to help re-invigorate your pursuit and presentation strategy or the teams that present?
