WHAT’S YOUR COMPETITIVE ADVANTAGE?

What would you regard as your competitive adavantage? Do you even have one?

How do you stay afloat or intend to stay ahead of competition in your line of business?

Whether you know it or not a lot more businesses are emerging and directly or indirectly competing with you.

New businesses are emerging  in your industry, they already see what you’re doing wrongly, they spectate from afar and build on your lapses. They are fast taking up market shares.

Your lapses and imperfections are what constitute their own competitive advantage. How are you going to match up?

Competing on price alone would not help. In fact, competing on price is not sustainable because there is a limit to how low you can go else you’ll be running at a loss.

Compete on competence, service delivery, customer relation, delivery time etc. There are a lot more “values” that you can compete on rather than price.

Develop your competitive advantage and use it to your advantage. Research and study other businesses and build on their weaknesses.

Peace.

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