Every company and industry imposes frustrations and compromises onto its customers. (Even Apple’s best-in-class I-Phone requires the compromise of AT&T’s more limited 3-G network and high monthly prices.) Eliminate a compromise or trade-off, and you have the foundation for a winning new business, new offering, or stronger value promise. It’s hard to identify the trade-offs because an industry’s compromises and frustrations are almost cemented in our expectations and paradigms for how things work. The best phones cost more after all. Yet we have model after model of entrepreneurs who bring a new lens to an old industry and find a disruptive innovation that makes a fortune while oftentimes making the world a better place too, or at least a less frustrating one. Imagine you are a arriving from a superior planet and look at the offerings in an industry. Then identify the frustrations…