Creating Competitive Advantage

Why should I do business with you and not your competitor?Whether youare a retailer, manufacturer, distributor, or service provider if you cannot answer this question, you are surely losing customers, clients and market share. This eye-opening book reveals how identifying your competitive advantages and trumpeting them to the marketplace is the most surefire way to close deals, retain clients, and stay miles ahead of the competition.The five fatal flaws of most companies:?They dont have a competitive advantage but think they do?They have a competitive advantage but dont know what it isso they lower prices instead?They know what their competitive advantage is but neglect to tell clients about it?They mistake strengths for competitive advantages? They dont concentrate on competitive advantages when making strategic and operational decisionsThe good news is that you can overcome these costly mistakes by identifying your competitive advantages and creating new ones. Consultant, public speaker, and competitive advantage expert Jaynie Smith will show you how scores of small and large companies substantially increased their sales by focusing on their competitive advantages. When advising a CEO frustrated by his salespeoples inability to close deals, Smith discovered that his company stayed on schedule 95 percent of the time an achievement no one else in his industry could claim. By touting this and other competitive advantages to customers, closing rates increased by 30 percentand so did company revenues.Jack Welch has said, If you dont have a competitive advantage, dont compete. This straight-to-the-point book is filled with insightful stories and specific steps on how to pinpoint your competitive advantages, develop new ones, and get the message out about them.The biggest marketing flaw in most companies is their failure to fully reap the benefits of their competitive advantages. Either they think they have a competitive advantage but dont. Or they have one and dont realize it. Or they know they have a strong competitive advantage but fail to promote it adequately to their customers and prospects.In my research with middle-market companies, I found only two CEOs out of 1,000 who could clearly name their companies competitive advantages. The other 99.8 percent could offer only vague, imprecise generalities. These same CEOs often rely on outside consultants to guide strategic-planning sessions. Yet, in my experience, very few consultants even seasoned ones give competitive advantage evaluation more than a superficial glance.Ignoring your competitive advantages can be an expensive and even fatal mistake. Because no matter the size of your company or the kind of business you are in, your competitive advantages should be the foundation of all your strategic and operational decisions. Theyre the reasons customers choose to buy from you instead of the other guy. From Creating Competitive Advantage