And the simple question is this, what is it that gives you the competitive advantage in the marketplace, why will customers come and spend time and money with you as opposed to your competitors or by even going to other industries?
I'll give an example. We used to own gas stations and to be fair one petrol station is another petrol station. We used to say that our people gave us the competitive advantage, but the reality was our competitors could say exactly the same thing. So if you say something and your competitors can say the same thing, then it's not a competitive advantage.
he other thing I'd suggest is look at it from a customer's perspective. Quite often when I chat with business owners, what they think is really important and what they think gives them the edge in the marketplace has no bearing to what their customers think.
So take some time, give some thought to it, and if you can answer the question 'what is it that gives you your competitive advantage' that's getting you closer to understanding your unique strategic position.
I hope you've been able to take something from this vlog, and if you'd like a hand with your strategic or business planning feel free to give me a call, thanks for watching, until next time take care. Catch you later.
For more about making your business a success, give me a call on 021 748 142 or flick an email to john@planaconsulting.co.nz
