How To Create a Competitive Advantage in Business

How To Create a Competitive Advantage in Business

To get ahead in business and move away from the pack, you need to create a competitive advantage for yourself. Using the same old boring sales techniques that everyone else uses isn't going to give your business a competitive edge. All it's going to do is put a little bit of money in your pocket and make you feel half-decent at the end of every day, but what I'm talking about is shooting for the moon here, making some serious money, and feeling like you're on fire before you go to sleep at night.

Learning How To Create a Competitive Advantage

Luckily, there are a few tried-and-true ways that you can use to create a competitive advantage for your business, and I've shared them below. Just remember, to have them make a significant impact, in a short amount of time, you must implement them.

Create a Competitive Advantage Through Savings

Everyone loves to save. Hit people where it counts most to them, i.e., right in their pocket. Be careful, though, as this can be a slippery slope if you're not providing value and are just in there at a low price. Look at the soft cost savings as well. Time is money, so if you can save them time, you can save them money, and if you can save them office space, that's going to equate to dollars saved as well.

Create a Competitive Advantage Through Upselling

Upselling is an easy way to sell add-on products and services. Having done all the hard work to get your foot in the door already, now it's time to send a simple email saying, "You already use or XYZ product, so why not try out our ZYX product." It's like buttering warm bread, but it needs to be done right to work effectively.

Create a Competitive Advantage Through Value

Needless to say, if you don't provide value, you will not be in business for long. Low price bidding is like picking up scrap metal; you have to pick up a ton of it to make any money. Here's an example, get on a treadmill, turn the speed to level 5, then level 10, then level 15, you start to get it here? You'll never outrun the bottom line. Dump that low price jargon and begin to provide value if you're looking to build a sustainable business.

Create a Competitive Advantage Through Non-Standard Coverage

Every business offers Monday to Friday service hours, so why not provide non-standard hours, i.e., on weekends and after hours, and charge a premium. People in need will pay a premium, and they'll thank you for it. Look at it like this, you own a home, it's the weekend, and your air conditioning stops working. Do you think twice about calling for repair? The answer is, at least in most instances, no. Offering non-standard hours will help you build new customer accounts. You may be the only company able to provide what a person needs when they need it most, and they'll remember that forever.

All of the above suggestions will 100%, without a doubt, create a competitive advantage for your business. Creating a competitive advantage is one of the best ways to put more money back in your pocket while increasing your profit per sale. Be the company that people can count on when they need it most, and customers will keep coming back to you for years to come.