Impossible Foods is the most recent example of what I call the “And Factor.” What’s the And Factor? It’s when a product or service has one more highly persuasive reason to buy it over the competition. It’s often an unexpected feature, because it’s contrary to current belief. More on Impossible Foods in a moment. …
I coined the phrase “And Factor” after a 2009 conversation I had with a BMW service manager:
Manager: “TC, do you know BMW’s criteria for developing a new motor?”
TC: (In my mind, I said, “Duh, no, I’m not really a car guy!” But to the manager, I said …) “I don’t.”
Manager: “We have three criteria. It must: (1) be more powerful, (2) get better gas mileage and (3) be lighter.”
BMW’s And Factor.
In 2009, a more powerful motor was usually heavier and got worse gas mileage. More powerful and better gas mileage and lighter — that was different! Since seeing my first example of the And Factor, I’ve noticed this: Companies that break with tradition and solve a problem that gives them an And Factor that’s contrary to common belief often become unstoppable.
Chipotle’s And Factor.
Chipotle created the And Factor for fast food, which used to be inexpensive, processed and unhealthy. Chipotle disrupted the formula by creating fast food that is inexpensive and made with fresh, local ingredients and healthy and delicious! A quadruple And Factor! The And Factor and good management catapulted Chipotle into the Inc. 500.
Impossible Foods.
Back to Impossible Foods, the maker of Impossible Burgers. Impossible Foods was founded to address the outsized role animal agriculture contributes to global warming and is another great example of the And Factor. In The Wall Street Journal article “Using Capitalism to Kill Meat” (Feb 15−16, 2020), Impossible Foods CEO Pat Brown reportedly said, “It’s not going to work telling people how to eat. It’s never worked. What we need to do is get to the point where animal food as a technology no longer works, because the economic model is no longer viable.” How do you break the economic model? You offer a superior product at a lower price!
Impossible Foods’ And Factor.
The Impossible Foods And Factor? It tastes like real meat and costs less and is healthier and is more environmental. A triple And Factor. For a fourth And Factor … and Impossible Foods pays a “thriving wage” to all its employees. That’s a major And Factor in my book! They are headed for great success.
When coaching leaders from Techstars and other small and midsize companies, I recommend they either have or develop an And Factor that separates them from their competition.
What’s your company’s And Factor?
