What is your competitive edge? It could be anywhere within your business. It could be anything that allows you to do something better than or different to your competitors. To find it you need to take a good look at your business and the market in which you operate and ask yourself some questions.
You may well identify it when you do a SWOT analysis, which looks at your strengths, weaknesses, opportunities and threats. What are your strengths? Perhaps by using modern technology you can provide superior quality in manufacturing. Or you may have a particular expertise which gives you an advantage.
Or maybe you have created a unique personal image for your business; for example, a supermarket may have created a relaxed homely atmosphere with free hot coffee and samples of food to taste. If it’s a fun and enjoyable place to do business it’s likely to attract more business.
As a small business you immediately have the edge of flexibility over larger companies. Where they may be bound by rigid product and marketing strategies, your business is able to change tack quickly to take advantage of unique or different market segments that arise at different times.
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