Competitive Advantage Business Plan

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Here are seven ways companies and individuals can create an edge.

Individuals who want to keep their competitive edge need to do the same.

It is also useful as a basis for your brochures, website copy and marketing presentations.

Describe your product, and compare its strengths and weaknesses with respect to the competition's products.

There are 5 references cited in this article, which can be found at the bottom of the page.

Every business, large or small, needs a competitive advantage to distinguish itself from the competition.However, restaurants typically gain competitive advantages through offering either unique or better-tasting food or from maintaining a higher level of service than their competitors.Establishing your competitive edge is an important part of the feasibility study you do prior to writing your startup business plan or your year-end strategic planning for next year's business expansion.There are many training programs available to help you work faster, smarter, and bring more value to yourself and your employer.Listening to books on tape can also help you gain a competitive advantage.It entails research into your competition, how their products differs from yours, how their operations differ from yours and how their marketing differs from yours.Your research should also include the demographics and buying habits of your target customer so you can identify or create your competitive advantage.Victoria Duff specializes in entrepreneurial subjects, drawing on her experience as an acclaimed start-up facilitator, venture catalyst and investor relations manager.Since 1995 she has written many articles for e-zines and was a regular columnist for "Digital Coast Reporter" and "Developments Magazine." She holds a Bachelor of Arts in public administration from the University of California at Berkeley.What is a competitive advantage and why should it matter to you?Competitive advantage is defined as the ability to stay ahead of present or potential competition.


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