Lenny's Podcast · Jul 255 essential questions to craft a winning strategy | Roger Martin (author, advisor, speaker)
Vanguard holds about $9 trillion in assets and the lowest cost position, having raced to enormous scale in index funds. Jack Bogle disliked ETFs but relented, and Vanguard now leads in index ETFs too.
Tips
- Win by being either clearly differentiated or the lowest cost, or leave the field▶ 28:37Southwest, Vanguard, P&G and Lego cannot be bullied by competitors; Southwest is the only US airline to earn its cost of capital over 50 years.
- If you chase cost leadership, commit to dominant scale and never let rivals close in▶ 51:01Vanguard has about $9 trillion in assets under management and the lowest cost position.
- Move early on customer-driven shifts instead of defending your current profit engine▶ 1:06:58Microsoft's share of smart-screen minutes fell as phones took over, with 0.4% of smartphone operating systems and about 4% of tablets.
