Developing and keeping a competitive advantage | TIF24

Today I’m sharing with you a recording of a keynote entitled "Developing and Keeping a Competitive Advantage," given by Philip Fierlinger, co-founder of Upstock and co-founder of Xero.   Philip Fierlinger discusses his experiences and insights on developing and maintaining a competitive advantage in the technology and accounting sectors. He shares his journey from working on the first smartphone at General Magic to co-founding Xero and Upstock. The talk focuses on the importance of creating extraordinary user experiences, transforming pain points into pleasurable experiences, and adhering to a strong vision and values.   Highlights from the session include:   Philip Fierlinger shares insights on developing and maintaining a competitive advantage, drawing from his extensive experience in the tech and accounting industries.   Discusses his journey from working on General Magic's first smartphone to co-founding Xero and Upstock, highlighting key milestones and lessons learned.   Emphasises the importance of transforming technology into "magic" through exceptional user experience design, making technology seamless and user-friendly.   Explains how Xero succeeded by turning the painful process of bank reconciliations into a pleasurable and engaging experience, fundamentally changing the perception of accounting software.   Describes the creation of Upstock to address friction in the B2B supply chain for foodservice, offering a digital platform that levels the playing field for small suppliers.   Highlights the significance of having a clear vision and strong values as the foundation for business operations, ensuring long-term success and competitive advantage.   Shares lessons on the critical role of customer research and feedback, and the importance of early adopters in refining and validating the product.   Discusses how cultivating a positive company culture and retaining employees can be achieved through adhering to guiding principles and providing support, such as coaching and counselling.   This is the third podcast I’m bringing to you from the 2024 Tropical Innovation Festival held in June, in Cairns, in beautiful Far North Queensland. If you are interested in the topic or the vibe of the event, I encourage you to go back and listen to the other two episodes and reach out to the Tropical Innovation Festival if you want to be part of future festivals. I will drop their contact details in the show notes.   The audio was recorded during a lunchtime session. At the start, you can hear the emcee of the event, who is also the conference co-organiser, Tara Diversi.    Contact details:   Tropical Innovation Festival: https://www.tropicalinnovationfestival.com.au/speakers   Phil Fierlinger: https://www.linkedin.com/in/fierlinger/  UpStock: https://www.upstock.app/  Xero: https://xero.com/  Tara Diversi : https://www.linkedin.com/in/taradiversi/  Accounting Apps newsletter: http://HeatherSmithAU.COM Accounting Apps Mastermind: https://www.facebook.com/groups/XeroMasterMind  LinkedIn: https://www.linkedin.com/in/HeatherSmithAU/  YouTube Channel: https://www.youtube.com/ANISEConsulting  X: https://twitter.com/HeatherSmithAU    Other podcast episodes of interest   Building Your Startup’s Profile with Media | TIF24 https://heathersmithsmallbusiness.com/2024/07/18/building-your-startups-profile-with-media-tif24/    MediaPhones, Accounting Dashboards & Digital Marketplaces: The Design Journey of Xero’s Co-Founder | Philip Fierlinger https://heathersmithsmallbusiness.com/2023/11/30/mediaphones-accounting-dashboards-digital-marketplaces-the-design-journey-of-xeros-co-founder-philip-fierlinger/