Month: December 2024

 Creative techniques can be tremendously helpful in decision-making because they open new perspectives, foster fresh thinking, and break us out of habitual ruts. By applying creativity to decision-making, you can uncover innovative solutions, identify hidden risks, and see a broader range of possible outcomes.

Following are three of the many ways that creative techniques can help.

Expand Your Options. Don’t limit yourself to the obvious choices. Many creative techniques, like SCAMPER (Substitute, Combine, Adapt, Modify, Put to another use, Eliminate, Reverse), can help you generate a larger pool of ideas. The more options you have, the more likely you discover non-obvious solutions.

Identify Hidden Assumptions. Creative tools like lateral thinking enable you to shift perspectives, break free from entrenched patterns or assumptions, and generate fresh ideas and innovative solutions. Challenging assumptions opens the door to breakthrough ideas that you might otherwise dismiss too quickly.

Increase Collaboration. Group creativity sessions like brainstorming can energize and expand options. When people feel safe sharing offbeat ideas, a richer collection of perspectives emerges, leading to more informed, well-rounded decisions.

Those are only a few creative techniques you can use to expand your perspective and challenge your assumptions to make better decisions. It is estimated that you only have to be correct 53% of the time to beat the CEOs of major companies.

You can visit my website for more information on creating a competitive advantage or email me any questions or comments — positive or negative.   – I would also like to learn more.

You can also get more short-to-the-point messages on my website at Quick Insights.”

 

Cheers,  Jim Zitek

I help B2B companies create their unique competitive advantage.

 

Many people are confused about the differences between these two concepts.  They are related but not the same. 

A value proposition explains how the company’s product or service solves a specific problem, delivers benefits, or fulfills the needs of a target customer. It highlights the unique value the company offers.

A value proposition is broad-based and concerned with what customers gain and how to attract customers. It may not be unique, but it must resonate with customers. The value proposition is critical for engaging your target audience and building trust. It answers: “Why should I buy from you?“

A competitive advantage focuses on the company and its position relative to competitors. It has a unique characteristic or purpose allows the product or service to outperform its competitors. It represents the company’s ability to deliver superior value or operate more efficiently than competitors.  

A competitive advantage is more narrow and focuses on how to outperform competitors and highlight specific strengths relative to rivals. It answers the question, Why should I choose you over others?” It allows you to defend your position in the marketplace.

You can go to my website for more information on creating a competitive advantage or email me any questions or comments — positive or negative – I like to learn also.

Cheers,  Jim Zitek

I help companies create their unique competitive advantage.

 

Research and analysis are excellent. But analysis alone very seldom comes up with a creative idea.

The vertical thinking we were taught in school helps, and there are many vertical thinking techniques like brainstorming or a SWOT (Strengths, Weaknesses, Opportunities, and Threats) that make up vertical thinking.

However, lateral thinking is a powerful technique for unlocking creative solutions to “unsolvable” problems. It is also easy to learn. It disrupts standard mental patterns so you can create different ideas, concepts, and innovations.

If you need to solve complex problems, see if this creative thinking technique makes sense.  

You can go to my website for some information or send me an email at jzitek@harborcapitalgroupinc.com  

I would also love to get any comments — positive or negative –you have. I like to learn as well.

Cheers,  Jim Zitek

I help companies create their unique competitive advantage.

 

If you invest like Warre Buffett, one of the first things he Looks for is if the company has a competitive advantage. That enables him to think about growth over the long term.

Only 10-15% of New York or NASDAQ exchange companies have a competitive advantage. So, those companies also have an “Investment advantage.”

This competitive advantage enables the company to protect its market share and profitability over the long term — and helps protect it from attackers.

There are many ways to achieve a competitive advantage, from operations to niche markets to technology to differentiation, and more. However, they all require research and creativity.

If you want to create a competitive advantage, check out my website, which includes Quick Insights and blog posts.

Feel free to share your comments and insights in the comments or on my blog posts; we’ll all learn from one another.

Cheers,

Jim Zitek

I help companies create their competitive advantage.

Our perceptions are essential to creating new ideas and innovations as we search for better ways to generate customer value, revenues, and profits. A limited perception, such as mental blocks, tunnel vision, and resistance to change, can significantly hinder creativity and problem-solving abilities. 

Your mindset typically already has a perception. Americans, for example, generally see trends linearly, but Asians usually see trends as cyclical. That’s a big difference in how you approach issues or opportunities.

Because perception shapes how you see problems, opportunities, and solutions, it is a fundamental driver of creative thinking. Perception lets you notice similarities, contrasts, and relationships that you might otherwise overlook.   

However, viewing the world from a different perspective can be challenging. Fresh eyes open up new possibilities. Overcoming our limited perception means challenging our existing beliefs, seeking diverse perspectives, and cultivating a mindset of curiosity and openness. 

Perception is critical to shaping creativity. It determines how we interpret the world and generate innovative ideas. Expanding our mindset and perceptual horizons can unlock our creativity, improve our problem-solving abilities, and help us make better decisions.

If you want to create a competitive advantage and move your company to new heights,  check out my website— and blogs for more information. 

I encourage everyone to share their comments and insights in the comments section or email me at jzitek@harborcapitalgroupinc.com   or in my blog posts; we’ll all learn from one another.

Cheers,

Jim Zitek

612-978-7222

I help companies create their competitive advantage.

 

 

In today’s ever-changing markets, being able to out think your competition is critical to your success. 

Creativity—including insights, ideas, concepts, and innovations—is key to solving problems, challenging disruptions, and building a competitive advantage. Creativity is critical to a company’s long-term success.

The good news is that everyone has the ability to be creative. It’s a learned skill, despite what most people think. Plus, there are many different creative techniques one can use to outsmart your competitors and innovate success.

Of all the different techniques available, I think the most powerful technique is Lateral Thinking, developed by Edward De Bono in the 1960s. 

Lateral Thinking takes you away from just vertical thinking and analysis and shows you how to create new ideas by disrupting the way the mind works. 

Some people you know who use Lateral Thinking are Steve Jobs (Apple), Elon Musk (Tesla, SpaceX), and Richard Branson (Virgin Group).

If you want to create a competitive advantage and move your company to new heights,  check out my website— and blog posts for more information.

Feel free to share your comments and insights in the comments or other posts. My email address is jzitek@harborcapitalgroupinc.com .   We’ll all learn from one another.

 

Cheers,

Jim Zitek

I help companies create their competitive advantage.

 

Competitive Advantage significantly impacts your success, long-term profitability, and viability. But, about 80% of people believe they are not creative. Why?

Schools focus on vertical or analytical Thinking, which optimizes known knowledge rather than diverging into new possibilities.

Lateral Thinking moves beyond vertical Thinking and analysis and creates new ideas by disrupting the way the mind works. Some people you know who use Lateral Thinking are Steve Jobs (Apple), Elon Musk (Tesla, SpaceX), and Richard Branson (Virgin Group), who have applied this technique to revolutionize their industries.

Edward De Bono created lateral Thinking in the 1960s, a more productive approach to generating new ideas. In addition to vertical Thinking, lateral thinking techniques encourage breaking assumptions, making unusual connections, and embracing uncertainty, all essential for generating new ideas.

 Combining analytical thinking (optimizing existing solutions) and lateral Thinking (creating new, innovative ideas, concepts, and innovations) is crucial to creating a competitive advantage.

If you want to create a competitive advantage and move your company to new heights,  check out my website— and blog posts for more information.

Feel free to share your comments, insights, or questions. I would love to hear them. We’ll all learn from one another.

Cheers,

Jim Zitek

I help companies create their competitive advantage.

jzitek@harborcapitalgroupinc.com

You could do many traditional things, such as focusing on your strengths, enhancing customer experiences, or expanding your product line.

But it would be best if you started thinking at a slightly higher level. For example, think long-term but maintain short-term flexibility and treat disruption as an opportunity.

This thinking will help you keep your competitive advantage relevant and enable you to create an environment of innovation and early adoption of new ideas and technologies.

It also opens the door to many other alternatives that will enable you to maintain your competitive advantage.

If you want to create a sustainable, competitive advantage,  check out my website.

Feel free to share your comments and insights. I would love to hear them. Please email me at  jzitek@harborcapitalgroupinc.comn. We’ll all learn from one another.

Cheers, Jim Zitek

I help companies create and keep their competitive advantage.

 

The purpose of competition is to benefit the consumer—to keep prices down and quality up. It also benefits the economy by ensuring the most efficient use of resources and encouraging enterprise.

However, the most influential producers may be able to increase market share. Sales volume may increase, but the benefits are not reflected in margins and profits—only survival.

A Competitive Advantage, however, enables you to move upwards from the competitive baseline, help customers, and increase market share and profits. But value must also exist, or your advantage will quickly disappear.

However, once your idea has been enacted, you must continuously improve it, or competitors will try to copy it.

Here is the surprise. According to a study by Michael Mauboussen, an expert in investment strategy, only 10-15% of public companies have a competitive advantage. Why? The long-term benefits of a competitive advantage offer the ability to outperform rivals and achieve superior profitability.

To create a competitive advantage,  check out my website or email me at  jzitek@harborcapitalgroupinc.com.  

Cheers, Jim Zitek

I help companies create their competitive advantage.

When a problem is challenging to solve, or you require an exceptionally creative idea to exploit a potential market opportunity, which of the many creative techniques available would maximize your benefits?

Traditional Thinking or vertical Thinking is a systematic and logical approach. It follows established rules and pathways to arrive at solutions. It relies on sequential steps, continuously moving towards an objective.  It is also rooted in past knowledge and proven methods.

For example, the TRIZ method, or the “Theory of Inventive Problem Solving”) method for technical or engineering challenges. TRIZ can also be used to improve ideas from other techniques like brainstorming.    

Lateral Thinking was created by Edward de Bono in 1967. This unconventional approach encourages looking at problems from different angles. It’s about breaking from established patterns to explore creative solutions and unexpected conclusions.

Lateral Thinking is about taking advantage of how the mind works by disrupting learned patterns pr information and creating a new pattern that isn’t immediately obvious.

For example, Uber applied Lateral Thinking to the taxi industry by leveraging technology to match drivers with passengers directly, bypassing traditional taxi dispatch systems. Netflix, initially a DVD rental service, used lateral Thinking to pivot and dominate the video streaming industry. 

Note: I will write about these creative techniques in upcoming messages, so stay connected. Learn how each creative technique can help you solve problems and create new opportunities. 

To learn more about creating a Competitive Advantage,  visit my website or email me at  jzitek@harborcapitalgroupinc.com.  Do you have a specific question? Let me know what it is here, and I will get you an answer.  

Cheers, Jim Zitek

I help companies create their competitive advantage.