Pass the 30-second test
OVER the past several years, I have worked with many companies, and I’ve been amazed to find that they do not know, and cannot articulate, their competitive advantage. How can a company expect prospects and customers to give their time and attention if they do not understand, clearly and concisely, what that company can do for them that no one else can do? The statement of competitive advantage is a 30-second statement of what differentiates your company in the marketplace. It sets you apart from the competition and it makes you sound like a polished expert right from the start. Companies who don’t understand their competitive advantage say things like “Our product is better quality” or “Our service is better”. Even if a company has better quality or better service, it won’t convince its customers just by saying so because many of its competitors will be saying the exact same thing! If you were to ask the average car dealer, computer store or furniture manufacturer what they do for a l...