The Next Step - Competitive Advantage

So, we've been discussing the importance of creating customer value and how a value proposition is the essence of any business. We've talked about how to choose a value proposition and the importance of choosing specific components of value. During the next several posts we'll spend time highlighting how to build competitive advantage in your business/unit, and how it relates to strategy and strategic planning.

Competitive Advantage Diagram

Click here to access the beginning of this blog: http://mybilliondollarfruit-stand.blogspot.com/2006/11/introduction-to-fruitstand-concept.html

Quick Tip

Before posting about the third value proposition, Best Product or Service, I would like to address a question I have been received lately with regards to analyzing the competition. The essence of the question is this; what's a good way to figure out my competition's value proposition so I can effectively position my organization to beat them?

Here's a quick tip: if your compititor is a publicly traded company then a very effective way to analyze their strategy is to listen to their quarterly earnings calls. You can access these calls on most company websites under a link called “Investor Relations,” or something similar. Every quarter you can listen to the company’s CEO discuss their performance, strategy, budgets, and overall outlook on the market. You can gain a vast amount of knowledge this way.