Startup Tip: The Dirty Secret About Features

I have little doubt that every investor has heard an entrepreneur touting how their new product or service will “crush” the competition with great features that the competition hasn’t yet seen. Many entrepreneurs – especially aspiring entrepreneurs – believe that product or service features represent a great competitive advantage.

There’s a dirty secret about features – they’re rarely a competitive advantage. I discuss why in the following short video.

What do you think?

  • Alex Pooley

    Nicely said Ross. I would like to hear a follow up of what you think makes points of difference, if not for features?

  • Ross

    Alex – thanks for commenting. I recently talked about ways that startups can understand their competitive advantage. Features certainly COULD be a competitive advantage (and if you pay attention to the feature war between Gowalla and Foursquare now before SXSW you’d think that was the holy grail). But for most startups, features do not represent a meaningful competitive advantage.

More in Business, Marketing, Social Media, Startup Tips, Strategy, Technology (35 of 145 articles)