As we build solutions to decarbonise the maritime industry in an increasingly crowded technology ecosystem, how can we create our own space and provide value that’s not easily replicable? How do we avoid becoming just another “good, better, best” provider in a sea of similar solutions?
The answer lies in looking at value creation from fundamentally different perspectives. Alex M.H. Smith’s book ‘No Bullsh*t Strategy’ provides invaluable insights on creating differentiated strategies. Though focused on consumer brands, these concepts translate powerfully to maritime technology.
Here’s our take on Alex’s three ways to deliver value, adapted for the shipping industry:
1. Context shift: Change the game you’re playing
Set yourself up against an unusual set of competitors, or change your category entirely.
Magnitude or volume? You’re building technology for ocean-going cargo vessels, but could it deliver better outcomes in smaller vessels or port applications? Consider these strategic pivots:
– Will you benefit more from focusing on a specific vessel type, or is there value in steering away from certain segments?
– Can you create outsized impact by building a few massive installations or many smaller ones?
– What if your “competitors” aren’t other maritime tech companies, but entirely different industries solving similar problems?
Your biggest breakthroughs may come from putting yourself in an entirely different frame of reference.
2. Unexpected value: Find hidden advantages
Pick a value that’s common in another category but not in yours, and turn that into your advantage.
Luxuries small and big: Is there a design or technical side effect of your solution that you can consciously build into an outsized advantage? Consider these possibilities:
– Does a propulsion technology enable silent operations that could substantially change the life of seafarers?
– Does your solution change the concept of an engine room, making it suitable for (semi-) autonomous operations?
– Can your solution allow companies to tap into an unexplored talent pool for shipping because operations are fundamentally different?
Identify and develop capabilities that seem incidental but could become your primary differentiator.
3. Contrarian value: Do the opposite
Find something that’s an industry norm, and create an offering that disagrees with it.
Platform vs. one: Everyone in your segment is building comprehensive platforms that do many things. What value can you unlock by focusing obsessively on just one thing and doing it exceptionally well?
Linked, or Not?: Constant connectivity dominates maritime tech discussions. But does your technology really need to constantly upload or download information? What advantages might come from designed disconnection?
Puzzle vs. Piece: The industry strives to build complete puzzle-like systems. What can you gain by building just the key piece that fits into many different puzzles?
The ‘only’ advantage
Being ‘better’ is the worst way to give value. ‘Only’ is better than ‘best’. Your goal must be to create value that literally cannot be replicated by anyone else.
