#1 The DHM Model: Delight, Hard-to-copy, Margin-enhance

1 The DHM Model: Delight, Hard-to-copy, Margin-enhance

Curation, as a form of creative and intellectual labor, is not just about acquisition and selection. It goes beyond that, encompassing the important task of contextualizing information. In a world overflowing with an abundance of information, curators play a crucial role in finding the interesting, meaningful, and relevant. They create a framework for what matters and why.

When we talk about curation, we can't ignore the enthusiasm factor. People respond to other people's enthusiasm about things. This is where the delight aspect comes into play. As curators, we need to focus on how our product or content delights customers. We must jot down how our product delights customers today and envision ways to continue delighting them in the future.

But delight alone is not enough. In order to stand out and create a sustainable advantage, we must also think about how to make our product hard-to-copy. This is where the Hard-to-copy aspect of the DHM model comes in. We need to list ways to create a hard-to-copy advantage for our product or content.

Netflix provides a great example of the power of process in creating a hard-to-copy advantage. Their personalization technology allows them to accurately forecast streaming hours for each potential title based on the movie tastes of their 185 million members. This enables them to "right-size" their investment in original content. By leveraging their process power, they have created a competitive edge that is not easily replicated.

Hamilton Helmer's book, "7 Powers," outlines seven hard-to-copy advantages that can be applied to product strategy. These include brand building, network effects, economies of scale, counter-positioning, unique technology, switching costs, and captured resources. Each of these powers represents a unique way to create a competitive advantage that is difficult for competitors to match.

In addition to delight and hard-to-copy, the DHM model also emphasizes the importance of margin-enhancement. We must consider how our product can enhance margins and create value for our business. This involves experimenting with pricing and business models to find the most effective way to monetize our curated content or product.

So, how can we apply the DHM model to our own curation efforts? First, we need to think about how our product or content delights customers. What sets it apart and makes it valuable to them? Jot down these points and ensure that they remain at the core of what we do.

Next, we need to identify ways to create a hard-to-copy advantage. This could involve leveraging unique technology, building a strong brand, or creating switching costs for our customers. By listing these advantages, we can focus on developing strategies that make our product or content difficult to replicate.

Finally, we must consider how our curation efforts can enhance margins for our business. This may involve experimenting with different pricing models or finding ways to capture additional resources that add value to our offering.

In conclusion, curation is an invaluable form of creative and intellectual labor that requires careful thought and consideration. By applying the DHM model of delight, hard-to-copy, and margin-enhance, we can ensure that our curation efforts are effective and sustainable. So, let's focus on finding the right ideas, distilling them, and transferring them quickly. By doing so, we can make the most of curation as a means to an end.

Actionable Advice:

1. Identify how your product or content delights customers and jot down these points. Keep them at the core of your curation efforts.
2. List ways to create a hard-to-copy advantage for your product or content. Leverage unique technology, build a strong brand, or create switching costs for your customers.
3. Consider how your curation efforts can enhance margins for your business. Experiment with pricing models and find ways to capture additional resources that add value to your offering.