Many businesses, especially newer ones, struggle with articulating what their competitive advantage is. Before you can leverage something, you need to 1) understand it and 2) be able to clearly articulate it. Some advice that applies to startups … oftentimes, one competitive advantage that small businesses have over larger businesses, that is often overlooked, is their ability to build and improve unique and industry leading customer experiences quickly. Rapidly build, test and pivot to gain those incremental improvements. Think speed boat versus cruise ship. Use size to your advantage to be more agile and nimble than those your up against. Matt Rebeiro - Challenge the Status Quo #CompetitiveAdvantage #startup #differentiator

Your competitive advantage is your secret sauce! 🍔 It's what makes your business irresistible to customers. To truly leverage it, dive deep into competitor analysis—know their strengths, weaknesses, and market share. Then, spotlight how your business uniquely solves a problem they can't. Remember, sustainability is key! Your advantage should be something you can defend and maintain over time. 💪 Keep innovating and stay ahead of the curve to ensure your competitive edge remains sharp. 🚀

In a challenging operating environment where the stability of doing business is constantly under pressure from resources, supply chain, inflationary factors and large market shocks affecting demand, the ability to be flexible is an intangible that is hard to quantify for the clients. Customer focused People, Planning and structure are all key building blocks of the main quality that creates competitiveness in any circumstance, company culture. The people make the difference and the difference is the people.

Your competitive advantage is what makes your business stand out from others. It could be a special product, better service, or lower costs. In your business plan, clearly explain how this advantage helps you win customers and beat the competition. Make sure to show why your business is the best choice.

I have a simple objective that I promote internally.... "No matter who calls us, and no matter the reason, make sure at the end of it they are happy the did." This promotes listening, understanding, and helping, regardless whether our firm's products or services can help the caller or not. Face the facts, there is not much difference between suppliers of goods and services, Customer service at this very basic level is a big differentiator in this time of no time to spare.

Your unique value proposition is the special benefit your business offers to customers. It explains how your product or service solves their problems in a way others can’t. In your business plan, highlight what makes your value different and why customers should choose you over others. This sets your business apart from the rest.

Leveraging competitive advantage and a unique value proposition involves strategic integration of Business Process Improvement (BPI): Identify core strengths through assessment. Align BPI with the unique value proposition. Identify opportunities through market analysis. Tailor BPI to address market needs. Use BPI for efficiency. Optimize costs through BPI. Foster innovation through BPI. Ensure BPI is adaptable. Use BPI for a customer-centric approach. Incorporate customer feedback into BPI. Establish KPIs linked to the value proposition. Implement a feedback mechanism. Incorporating BPI ensures businesses capitalize on opportunities, aligning their model with evolving trends.

There are many different types of business models, but some of the most common ones include: -Subscription model: Customers pay a recurring fee to access a product or service. -Freemium model: Customers can use a basic version of a product or service for free, but they must pay to access premium features or functionality. -Advertising model: Companies generate revenue by selling advertising space on their websites or apps. -Marketplace model: Companies provide a platform where buyers and sellers can connect to transact business. -Transaction fee model: Companies charge a fee for each transaction that takes place on their platform.

Your business model explains how your company makes money and operates. It covers who your customers are, what you sell, and how you deliver your product or service. In your business plan, show how your competitive advantage and unique value help make this model successful. It’s important to show how all the pieces fit together to create a strong business.

Integrating Business Process Improvement (BPI) into the financial plan involves key steps: Identify strengths through BPI assessment, aligning them with financial objectives. Customize BPI initiatives to address market needs, contributing to revenue growth. Employ BPI for operational efficiency, optimizing costs within the financial structure. Cultivate innovation through BPI, ensuring financial adaptability and sustainability. Implement BPI for a customer-centric approach, positively impacting financial performance. Establish financial KPIs linked to the value proposition, ensuring measurable success. By incorporating BPI strategically, businesses enhance alignment with market opportunities and achieve financial objectives.

Your competitive advantage and unique value proposition starts with your "Why." The reason why you started the business and your experience in that field. When you exhibit your passion as a business owner and your experience in your field, then you will confidently believe in your competitive edge and value yourself accordingly.