- Joined
- May 21, 2011
- Messages
- 1,144
Rep Bank
$2,330
$2,330
User Power: 344%
Awesome insight, thanks for this specific detail.
Which form of competitive advantage (ie operate at lower cost vs competitors, or command a price premium, or perhaps both) did you decide to go after, and why?
From what you’ve shared it sounds more so that you went for lower costs, by 1) really dialing in your sales and marketing to be closing deals very effectively and efficiently, 2) keeping your delivery and operations lean and efficient to the point of quality you are aiming for, and 3) post-sales service in which you mentioned you continue the customer relationship beyond the first sale for opportunities to upsell by knowing more of their needs and how to bring them more value.
Was that the case at your company? If not, how did you see it?
Which other forms of competitive advantage have you found are likely present in many industries today because the status quo has them complacent and comfortable?
Sent from my iPhone using Tapatalk
You never want to rely on one macro advantage like price because your putting your eggs in one basket and that type of mentality always breaksdown over time.
Instead you need to be stacking micro advantages through your operation that together over time build a "moat" around any type of competition coming in and taking over. Some of my top ones are:
1. Speed to market (If you're not first you're last - Cardone)
2. Pricing (I am not the lowest cost but my pricing makes more sense than a lot of other options)
3. Technology (One simple example is headsets.. Ive called other companies and they have there guys talking on headsets built in the 90s that cost 5 bucks and sound like absolute dog shit. This is a small advantage when i have everyone on $150 headsets designed for making calls all day long)
4. Clarity of message (A simple small over looked advantage.. How clear is what you are selling? Is your target market understanding FULLY AND COMPLETELY what they are exchanging dollars for? Again, I've called other companies and they confuse the shit out of people with what they are saying)
And the list goes on and on. Honestly i could probably make you a list of 500 - 1,000 specific competitive advantages that i have over everyone else.
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today