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Growing your advantages over time

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Sometimes your strategic advantage isn’t something that’s blindingly clear from the moment you set out in business, but instead grows over time. Your skills grow as you develop in business, and your understanding of how you’re different from the competition consolidates as well.

From time to time, you can review your strategic advantage by asking yourself these questions:

 What am I naturally good at? (Or what is my team good at?) Where do I feel I have been particularly successful in my business?

 What do I offer to my customers that’s either cheaper than my competitors, better value or unique in some way?

 Does a point exist where what I’m naturally good at connects with what I do better than my competitors? If so, how can I build and develop this?

When our local osteopath first started out in business, he didn’t really have anything that separated him from the competition. The only thing that was really different about him was that he was an elite rock climber in his spare time. However, as his business grew, he became expert at treating other climbers for their injuries. His business developed, and now he treats climbers who not only live locally, but also come from interstate. He even does some international consultations (and, yes, if you’re wondering, some parts of an osteopathic consultation can be conducted via Zoom!). This combination of skills — being a natural climber and a highly trained osteopath — is hard to beat, and a true strategic advantage.

Small Business for Dummies

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