Building competitive advantage is a topic which has been widely discussed, however, it’s still being mainly associated with the word ‘price’. As far as new technologies go, one would image things look differently. Innovative ideas are popping up all over the place, right? You keep hearing the words ‘innovation’, ‘startup’, and ‘revolution’.
It’s our goal here to tackle issues widely discusses elsewhere. Copying foreign ideas, reduction of the idea of innovation by changing its definition from global to local, or developing projects for the sole purpose of burning through subsidies. We won’t be covering matrix, canvas, or other similar tools trying to convince us we’re in the top right corner – the only place we’re wanted.
Where’s the biggest competitive advantage come from? One, which drives the product or service and makes it elicit action. An advantage which will blow away the competition even with a limited budget. And when you hit a rough patch, will help you stay on course, believing what you do is right.
The way we see it, it comes from the heart and being self-aware. The self-awareness of the people behind the business. Having a clear vision of the state of the market, of what it should be, and what the options are to change it.
Motivation, inspiration and most of all communication all play major roles here. You need to be able to scale up even the best idea in a way which will make others understand it and support it. When the time comes to work hard, you just roll up your sleeves and not think of any parties, chillout rooms, and other distractions. You get down to work and don’t stop until you reach the goal!
How do you quickly build a strong competitive advantage like that?
1. Stand out by not paying attention to trends and what others are doing.
2. Focus on a single aspect of your offer and answer the question “why is it so important for me?”.
3. Scale up the solution so that it gives back!
Wish you plenty of bold ideas,
Sulma & Sulma