Pillar #1: Competitive Advantage

Competitive Advantage

A competitive advantage is what makes potential customers choose you over the hundreds or even thousands of options in the marketplace.  The competitive landscape is littered with companies that have innovative products or services which failed because they could not establish their advantage or evolve their advantage to the marketplace.  Your current competitive advantage has enabled you to get to where you are but will not necessarily get you to where you need to go.

As a former professional athlete, multi time successful entrepreneur, and father of 4 aspiring athletes Adam House is an expert winner because he hates to lose. 

To create a competitive advantage, you've must to be clear about the following:

  1. Target Market: What customers are the best fit for your offering? What problem does it solve for them? You must know exactly who buys from you and how you can make their life better. That’s how you create demand which is the driver of success in business.
  2. Competition. Identifying your competition and how you compete is one of the first steps to rapid growth.  Most businesses stop at the first step but fail at understanding the competitive landscape and what makes their business unique.  This prevents them from having laser focused vision on communicating that advantage to the marketplace.
  3. Value: What is the real benefit your product provides? Is it something your customers need to have or is it something they can live without? You must know your product's features, its advantages, and how they benefit your customers.  

Have you identified your target market, studied your competition and identified how you will win, and have a clear way to articulate your value to the marketplace?

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