Creating a Competitive Advantage

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Part of growing a business is having a competitive edge and working to grow the strength of that edge. Essentially a competitive edge answers the question, “Why should the customer purchase from you instead of from your competitor?” For some companies, particularly those in markets where the products or services are less differentiated, this can be difficult. The key to understand is that if your company has customers, they chose you for a reason. Growing a business is often built on a strong competitive edge and one that can be grown over the course of time.

Differentiation
There are limitless things you can do to make your company unique simply by using a little imagination and creativity; they include:
1. Look at what your competitor has to offer. What new spin can you put on it?
2. Assess your product. Can you add/delete any features that might make it more desirable or useful than your competitors?
3. Think of new uses for old products or new ways to package or bundle your offerings.
4. Analyze your marketing strategy. Are there innovative ways to promote your brand that will have significant impact on your target market?
5. Make sure your products are user-friendly and easy to order, thus making it effortless to do business with you.
6. Provide exceptional customer service, hours of operation, guarantees, etc.
7. Offer special services, such as delivery or layaway.

Got your attention? The Small Business Development Center offers a free online seminar titled Creating a Competitive Advantage.

Interested in online learning, go to our website and click the workshop link. You will then see the below link, click on it and view the list of all our online training seminars.

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