Competitive Advantage

If you want to consistently beat the competition, you need to be very clear about your business competitive advantage. You need a competitive advantage strategy, in fact, because competitive advantage is a strategic issue.

Do you know the source(s) of your competitive advantage? If you don't, then shame on you! And, by the way, being better at customer service, or cheaper, is rarely a good enough answer. As a business owner-manager, it is your number one duty to know what your business competitive advantage is, exploit it, build it and defend it over time, if you want to grow and build a more valuable business.

The problem is that pinning down your current real or potential competitive advantage is not as straightforward as many people think (these are the people who have read the theory, but have not had any experience of applying it). It actually requires a lot of thought, a good degree of analysis and you need to get your creative juices flowing. But once you have pinned it down, it is the source of a good many opportunities for your business.

A competitive advantage strategy is all about prioritising all the things, and there will be many, what you can do with it and critically focusing on the one with the most value and potential for your business.

Once you have done that, you can be clearer about who you target and how you reposition yourself in their eyes.

Beating the competition is all about using your business competitive advantage to work for you in the most compelling and appealing way.

Read about our Structured Business Review and low risk Business Growth Action Plan.