Often times people try to explain the competitive landscape.
I prefer a visual competitive landscape tool to show your competitive advantage.
If you’d like a competitive landscape tool click here and go to my business starter kit, the tool kit for business and click on the attachment titled competitive landscape.
Above is a quick page view of a competitive landscape of the current social incubator/accelerator industry. The competitors, alternatives, substitutes, and or potential partners are listed down the left side. Across the top of the matrix are the competitive elements which differentiate the prospective business ” Social Launch Pad” from the rest of the market, as well as the competitive elements currently offered by the current market players.
The lack of ‘x’s in a column suggests this competitive element is not currently being offered by direct and indirect competitors. Does the lack of competition on a targeted competitive element necessarily mean you have a competitive advantage?
No, of course not.
But it does suggest there might be open market space, opportunity. Now the question is; is this competitive element valuable to anyone, to your clients? Is it relevant? Is the timing right? Can you deliver it at a high value price point?
Competitive advantage infers you are better, superior, different, unique on one or more elements that are valued by your targeted clients. You can be different in many ways, but are you different in ways that are deemed valuable to your target and can you capture and deliver the value consistently?
I believe the secret to truly being competitive, differentiated and unique in business is staying true to your values, passions, talents, resources, and abilities. The practice of doing life and business in your personal sweet spot which is illustrated above and was inspired by Jim Collins hedgehog concept.
Press into what makes you unique. Design upon the foundation of who you are and keep your eyes wide open for opportunities to bring new, unique solutions of value to others.
Competitive advantage, competitive landscapes; nothing more than pressing into YOUR sweet spot!
Seattle Business Coach
425 218 5864