Why Mastering Your Business Isn’t Enough

If your goal is to outcompete the Hiltons and the Marriotts, offer more room-nights than anyone in the world, then you’d better be expert at buying and developing real estate. Common sense. Until Airbnb came along.
Who would be crazy enough to take on Walmart? When it comes to cost and supply chain management, they’ve got it nailed. Who would be crazy enough? Amazon.
If you want to become the world’s largest car service then you’d better have a fleet of vehicles that matches up with Hertz and Avis. Obviously. Or not, if you’re Uber.
In the game of business it’s no longer enough to simply think faster, better, cheaper. You need to think different. It’s not just about the business, it’s about the business model.
You’re expert in your industry. You know it as well as anyone. Your industry as it is. Not your industry as it will be. You could master the game but if someone else changes it then you’re playing the wrong game.
Don’t just think business. Think business model.
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