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Fast Casual Food Pioneer Ron Shaich Explains How to Find a Niche — and then Scale

HBR IdeaCast

NOTE

Understanding the Difference Between Means, Ends, and Byproducts

Don't worry about your competitors, focus on being a better alternative for consumers. This is the key to value creation. Let me tell you a story: my friend, a type one diabetic, wants to stay alive. The means to that is managing his blood sugar. Similarly, in business, the means to value creation is being unique and giving consumers a reason to choose you.

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