Competitive advantage

Competitive Advantage (Image by Getty Images via @daylife)

Ten powerful tips for competitive advantage for your company. 

How do you get a competitive advantage and make the products and/or services of your company sell like hot cakes? You may be a head of a start up company or a seasoned CEO of a large company wanting to create breakthrough products that will bring a lot of revenue for your company. 

There is a way to nurture and evolve your product to the point that it gets a mind of its own and grows in sales exponentially. An example of such a product is Facebook. In this highly changing global environment the half-life of your competitive advantage is very short.
 

Here are some tips that will get you started and help you to maintain and increase your competitive advantage :

1. Acknowledge that your product can be improved in different ways
2. Listen to your customer for clues of the kind of value addition they are looking for
3. If it is a new product, allow at least six months to one year for the concept of the product to evolve
4. Be aware of the product and scan the environment constantly
5. Capture all the ideas with respect to the product-good, bad, and brilliant
6. Piggy back on others invention
7. Whenever you come across a new idea, an invention, or a market immediately try to correlate it to your product
8. Nurture, modify and finalize the product after preset attempts
9. Trust your intuition to tell you when your product is ready for the launch or the redesign
10. Take these steps and give yourself sufficient time to evolve the product into something your competitor will find it very difficult to emulate.

The same steps can be applied to a service offering.

I would recommend a training program to start you on this journey and get you quick results.

You can get the training program here: 

http://ude.my/wNUYps

Start applying this to a select number of products in your company, and you will find that your competitive advantage soaring high. 

This approach should become a part of your long term strategy to develop and maintain your competitive advantage.