Do you want to be number one? Or do you want to be profitable?

Would you rather be a Tesco or a Waitrose? A Visa or an Amex? A Netflix or a Mubi?

Most brands want to be premium. And they also want to be in first place. Rarely is there a moment of reflection to understand that these are often two different positions. There are tradeoffs needed for each.

Instead of sacrificing the very thing that makes customers choose you, consider the profitability, distinction and sustainability of your position in the market. There's a sweet spot for every brand and it's not necessarily the first place position.

An alternative to the sacrilege of not wanting to be number one: aim to maximise the perceived value of your brand vs. its generic commodity counterpart. Double down on what makes you special (and go ahead and charge a premium for it). Profitability is better than chasing after scale.