Timet called tonight to chat about his trip tip to India and what he needed to do next to get a round of venture capital. With the first systems installed he is needing capital to grow. I told him I'd help by asking him to answer a series of questions. At the end he'll have constructed a very good unfair competitive advantage.
It begins by answering this question: "What are the four names for your company, the category you plan to dominate, your product family and your technology?" A category is like microprocessor (Intel) or router (Cisco). Your technology needs a proprietary name, not a generic one.
I typically find the CEO does not have all the names. Until you do, you are not able to construct an unfair advantage.
BOTTOM LINE: Try the exercise yourself. See how hard it is. When you get all four names you are on your way to constructing your unfair advantage. I wish you the best.