The 3Cs Formula

The 3Cs formula is a simple but effective approach when launching a new project

The first C is Competitive Intelligence. Find out who and what is out there. This is more than standard market research. It includes IP searching, assessing freedom to operate, knowing a competitor’s IP and that in the market, determining competitive tensions and looking at barriers to entry.

The next C is Competitive Edge. Knowing what is out there (Competitive Intelligence) helps you identify what the intangible assets you have that are different and give you an edge. This can be reputation, internal systems and data, functional features or something that looks good. Take action to protect the edge - whether with formal IP protection or good systems.

The last C is Collaboration, something that New Zealanders with their DIY attitude are not good at. Determine what you need and from whom to make your project happen. It could be manufacturing, distribution, brand association, complimentary technology…

Your Competitive Intelligence will help with the whom. Remember competitors are potential collaborators. Because you will have a protected Competitive Edge, that can be used as leverage in your negotiations. Make sure that that the new relationship is covered by tight agreements. Collaborators can also become competitors!