To generate long-term revenue and value growth, it is paramount to create sustainable competitive advantage. Growth companies and markets attract competition, and if a growth company doesn’t have any advantages that competition can’t easily replicate, then chances are a price war to the bottom will occur or the company will be gobbled up and surpassed by the competition.
To get you going on improving sustainable competitive advantage, download the Competitive Advantage PowerPoint Worksheet with an idea-generating template.
1. SUSTAINABLE COMPETITIVE ADVANTAGE – IMPROVEMENT IDEAS EXERCISE
The more you can drive multiple sources of competitive advantage the better you can defend your value proposition against competitors. Before starting this exercise, read through the top tips outlined above. Then, evaluate which sources of sustainable competitive advantage you currently have, prioritize those which are important to your industry or that you think you can drive, and then brainstorm various ways to improve the different sources of sustainable competitive advantage. We included a template to help guide your brainstorming.