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Archive for February, 2020

The Importance of Competitive Advantage

Friday, February 14th, 2020

As an otherwise idle MBA (Master of Business Administration) there are a lot of times where I hear business plans and see business ventures that make me wonder whether the people involved actually understand the idea of going into business. Most businesses fail. But most businesses fail because they don’t have a business plan or a marketing plan. And I’d add that they need to keep these as Live Documents (continually amended in real time to reflect the changing business environment).

Boring stuff, I know. Who really wants to spend all that time and effort running a business with paperwork. Live documents, phooey. I hear you. My answer… well, a business that wants to compete, survive and prosper. Otherwise, you’re correct… what a waste of energy.

One step in that direction for a business is to sit down and seriously ask yourself what your product/service offers customers. I mean, what does it really offer them above your competitors? What is your Competitive Advantage? Why you and your product/service, instead of your competitor?

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About the Author

Steven Clark Steven Clark - the stand up guy on this site

My name is Steven Clark and I live in the Derwent Valley in Southern Tasmania. I have an MBA (Specialisation) and a Bachelor of Computing from the University of Tasmania. I'm a mazer & a yeast farmer (making beer, fruit wine and mead as by-products of continuous improvement in my farming practices). I'm a photographer, although my film cameras are currently silent. I do not tolerate idiots. I do not tolerate bigotry. I do not tolerate excuses. Let's be clear, if you sit with my enemies you my are my enemy for life.

Blogger. Thinker. Brewer. Drinker. Life partner to the amazing and incredible Megan.

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