Clarify Your Competitive Advantage

Coffs Coast Advocate (Coffs Harbour, Australia), October 8, 2010 | Go to article overview

Clarify Your Competitive Advantage


Byline: SARA HOWARD

IDENTIFYING your competitive advantage a the one thing you do better than anyone else a is actually harder than it sounds.

In the end though, it really comes down to one of three things:

Process: Do you do things better than everyone else in an organisational sense? (If you run things more efficiently you can do things more cheaply than your competition, which means higher margins or lower prices. Or both. Streamlined processes may also enable you to deliver your products or services more quickly than your competitors).

Expertise: Do you offer cutting-edge services or products? Are you a thought leader in your area of speciality?

Relationships: Are you effectively a trusted adviser or partner to your clients?

Choose your focus

THESE are all things that you can do to differentiate yourself. But here's the big thing: you can't have a competitive advantage in all three. You can only do one of them really well.

If your focus is on relationships, you can really only manage a handful of clients. And that won't give you the low cost base that a process advantage needs.

Likewise, if you occupy the high end of the market with your expertise, you might not have the time needed to build intimate relationships with customers. You can't be on call for thousands of customers 24/7.

In effect, these three areas tread on each other's toes. You can be reasonably good at all of them. You just can't be the best at all of them.

We can't all specialise in relationships

I WOULD hazard a guess that most soloists would say that their strength is relationships. It's the nature of our business models. Because we're on our own we need to connect with others and build our networks and connections.

I've helped a number of small businesses articulate their philosophies, and they've all said that what makes them different is the time they spend listening to their clients and really understanding what they need and how they think. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Clarify Your Competitive Advantage
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Author Advanced search

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.