Michael Raynor and Mumtaz Amhed nail it in their article in the April Harvard Business Review:
- Better before cheaper—in other words, compete on differentiators other than price.
- Revenue before cost—that is, prioritize increasing revenue over reducing costs.
- There are no other rules—so change anything you must to follow Rules 1 and 2.
I disagree with their critique of Jim Collins’ Good to Great and Tom Peters’ In Search of Excellence, but it’s noteworthy that their conclusions are essentially the same. That is, the findings of Collins and Tom Peters can be boiled down to these three things. Or, perhaps better, these three rules are derivatives of the even deeper and more foundational realities that Collins and Peters show.
The extent to which these three rules are violated is truly breathtaking!