Now, I'm paraphrasing because I want to get this down and don't want to dig out the CD right now, but the general theme was around creating advantage in your business offering - commercial advantage, financial advantage, market advantage, and so on.
Some of these I'd expect most people to think of: You want to be the best in your market, or at least define a niche for yourself that has no competition; you want to be able to outlast the others in your market, even if that means waiting a long time to get your money back, or you want to be justifiably the most expensive in your market.
But then he said something that had echoes of a bunch of other bits and pieces of wisdom I've absorbed recently - systemic advantage.
The advantage of having a system.
As I was walking along, Dan continued his train of thought, but mine had spun off to other avenues (sorry, Mr. Kennedy!)
Here are some others who extol the virtues of a system - Dane Maxwell, creator of the 6-figure Recruiting Ninja business, and currently head honcho at The Foundation (TheFoundation.com) has a unique system that he teaches and which takes a market, creates a product based on feedback from that market, and then sells it before it's even available!
The system has been used by, among others, one Sam Ovens. Look him up, it's a worthwhile story.
Sean Ogle, the Location Rebel, has a collection of frameworks and systems. Dave Risely (of Blog Marketing Academy fame) has a system (which he calls the Blueprint) that can help you build a business from nothing.
The fast food industry is home to one of the most successful systems of all - McDonald's.
I could go on - Michael Senoff (HardToFindSeminars.com) has a system for marketing consulting, Dan Kennedy teaches a system for creating sales letters, and works a system for selling his stuff, etc. - but you get the point.
The one thing your business needs to have, if it is to be successful, is a solid foundation, built on a system that can be deployed, used to measure results, tweaked to get better results, and followed when times are tough and you lose direction.
That's the advantage of having a system.