A competitive advantage in the marketplace makes a mere opportunity into a GOLDEN opportunity. But you must know how to identify your advantage and even more importantly, how to capitalize on it.
Finally, here is a book that is relevant, to the point, and useful to any manager or leader of an organization who desires to get to the heart of their organization’s key opportunities within the marketplace.
It does not matter whether you are in retail sales, manufacturing, distributing goods or providing a useful service, if you fail to differentiate yourself from the competition and state the difference clearly to your customers and employees, you will be sure to lose both in short order.
"Leaders today must be able to succinctly answer the question “Why should I do business with you.. and not your competition?"
This book will answer the most important questions, and more – so we suggest you embrace it and gain some very important knowledge and insight.
Too often organizations fail because they do not understand the Five Fatal Flaws:
Upon reading Creating Competitive Advantage: Give Customers a Reason to Choose You Over Your Competitors , you’ll clearly see that you CAN overcome and avoid these costly mistakes; by quickly identifying your competitive opportunities and also by proactively creating new ones in the marketplace.
Smith explains how you can show customers just how much they can save and benefit from doing business with you. Nothing quite grabs the attention of a potential client than by showing them how to save money, time and effort.
However, it’s up to you to be able to communicate this message effectively to your customers and employees!
Smith asks the question “When was the last time your organization hired an outside firm to do unbiased customer research? What has kept you from doing so?”
Having a direct link to your customers that will tell you precisely what they want and whether or not your organization is meeting the customer’s needs, is an essential activity to ensure the long-term success of your company.
"Experience monumental growth once your are armed with knowing what your true competitive advantage is!"
If you do not have this in place, make it happen right away – the return on investment will quickly overshadow the cost.
By identifying and fully evaluating your competitive advantages, you’ll uncover even more benefits of your product or service that you ever thought possible before going through the process.
Emphasis is also placed on maintaining a sharp eye on your competition. Continually assess what they are doing, and whether or not they are doing something better than you are. Find out what they do and make certain you outperform them every single time.
Just because your competition does something better, only invest your hard earned dollars to copy or improve upon what they do if it provides you with a unique advantage – otherwise you may be wasting your time.
Jaynie L. Smith is the founder of ICS Marketing and president of Smart Advantage, Inc., a management consultant organization whose clients include hundreds of middle-market businesses.
William G. Flanagan has been a writer and editor at Forbes, the Wall Street Journal, BusinessWeek, Esquire, and New York magazine. His last book was Dirty Rotten CEOs (Citadel).
"Strength and growth come only through continuous effort and struggle."- Napoleon Hill