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Figuring Out What’s So Special about You (And Your Business)

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IN THIS CHAPTER

Identifying what gives you an edge

Ensuring your business idea is strong enough to fly

Understanding the relationship between risk and gain

Analysing your competitors (complete with cloak and dagger)

Matching competitive strategy to strategic advantage

What is it that makes you, or your business, so special?

Even if you have a business that’s similar to thousands of others — maybe you mow lawns, have a hairdressing salon or tutor high school students — I still recommend you come up with an idea that makes your business different from others in some way, or that provides you with a competitive edge.

Similarly, if your business caters for a very specific niche — maybe you sell gluten-free cookies or baby clothes made from organic cottons — you need to identify what it is about your skills or circumstances that enables you to service this niche better than others.

In this chapter, I help you define the essence of what makes your business special, or more likely to succeed than others. This quality is called your strategic advantage and is the single most important ingredient for ongoing business success.

Small Business for Dummies

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