What Can the Grateful Dead Teach Us About Business?

May 4, 2009 · 5 comments by Larry Comp

in Business Strategies, Organizational Growth

Each morning, when I turn on my computer, I am greeted by a new inspirational quote. Most of these are thought-provoking and I have saved hundreds of these gems over the years.

Surprisingly, one of my favorite quotes comes from Jerry Garcia of the famous 60s Rock Band: The Grateful Dead. I’ve seen a number of acts over the years, but never caught these guys - they were just a bit ahead of my time. Jerry’s quote was: “You do not merely want to be considered just the best of the best. You want to be considered the only ones who do what you do.” Wow, this Rock Star sure understood the concept of creating and owning a defensible niche.

Nowadays, it’s often hard for prospective buyers to differentiate one company’s products and services from another. As we think about our respective companies, are we not only the best at what we do, but also the only ones doing what we do?

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{ 5 comments… read them below or add one }

kristy 05.04.09 at 10:26 am: I love that quote. Who knew it’d come from the Grateful Dead.

Good post
Chris Plamann 05.05.09 at 11:35 am: Great quote, Larry.

What I find interesting about differentiation in today’s business environment is that while technology can make more players within a certain industry more accessible, it also allows for those players to establish relationships with their prospective customers and educate on their differentiators (why they are unique in their product/service offerings).

What is happening today within many industries is that most everyone has a website - creating an environment that is extremely competitive and crowded. Unfortunately, many of those companies have not embraced the tools (blogs, social media, etc.) that allow them to effectively communicate their differentiators in an increasingly crowded space.

This obviously leads to a real opportunity for those firms that 1.) have a unique value proposition, and 2.) leverage online tools to communicate it.
I Shed T h i r t y P o u n d s in Under a Month 05.05.09 at 8:53 pm: Hi, good post. I have been wondering about this issue,so thanks for sharing. I’ll probably be subscribing to your blog. Keep up the good work
Larry Comp 05.06.09 at 12:06 pm: Thanks Kristy…good insight, Chris!
Russ 05.12.09 at 8:36 am: Thanks Larry. My favorite quote from 60’s music is by Bob Dylan; “he not busy being born is busy dyin’ “. Never more true then now.