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Try to deepen your understanding of strategic advantage (refer to the preceding section) by applying the concept to a few real-life situations that are easy to imagine. Picture yourself sitting in a room with four people and each of these people sharing their idea for a new business:

 Leila plans to start a business mowing lawns in her local neighbourhood.

 Tess has recently qualified as an acupuncturist and plans to start up a practice specialising in children’s health.

 Dave has an idea to provide a mobile home-safety service, installing devices such as gates, cupboard latches and electrical safety switches to make homes toddler-proof. His partner is in real estate and has great marketing skills.

 Shayne, who is a fashion designer with a large Instagram following, has partnered with a friend with photography skills to sell his services as a market influencer.

Referring to the strategic advantages listed in the preceding section, have a think about which of these advantages could be relevant to the example businesses. You can see how I’ve rated the strategic advantage potential for each of the four businesses in Table 2-1.

Have a look at Table 2-1 and see if you agree with my assessment of potential advantages. For example, can you think of ways that someone with a lawn mowing business could get an edge over competition with added value services, location or lower costs?

TABLE 2-1 Rating Businesses According to Potential Strategic Advantage

	Lawn Mowing	Acupuncturist	Toddler Safety	Market Influencer
Added value	Maybe		Yes
Exclusive distribution
First cab off the rank			Yes
Intellectual property				Maybe
Location	Maybe	Maybe	Maybe
Lower costs	Maybe
Obsession and drive				Yes
Perfectly matched team		Maybe	Maybe	Maybe
Specialist skills		Yes