The foundation of a successful business scaling strategy is figuring out your company’s competitive advantage. While it can take a bit of work before you find it, I’ll be working with you. It’s usually invisible to customers, and it addresses a huge established choke point in your industry.
Identifying your advantage is something your competitor can’t do or won’t do without great effort or expense. It can take years before you develop it because it would provide little to no competitive advantage if it could be done cheaply, easily, or quickly. However, once you find it, it can be the basis for the vision of your entire organization and your superpower.
Figuring out your differentiators and eventual competitive advantage means choosing how you go about delivering your products and services. We will go through an exercise to get in the right mindset for this decision. We will work with the senior leadership to think deeply and broadly about what in the market can affect your company’s trajectory. With my tools, we will have all the answers we need to set you up for scaling up your business.
The goal of the exercise is to face the brutal facts of your current situation and what could happen in the future that could shake up your industry and business. By being aware of your company’s going through the exercise with your senior leadership, we can focus on making the best plays given the hand your organization was dealt.
This exercise is broad in scope, so think about more than just the competitor down the street. Is there a company on the other side of the globe that might put you out of business? Is there a new technology that could change your industry overnight? These are the kinds of questions to explore now.
When you have a plan for dealing with these trends or upcoming competitors, you can have a plan in place for dealing with them and staying ahead of the competition. You may be able to sniff out new rivals before they have a chance to threaten your company’s home turf.
Give me a call so we can make sure you are making great strategy decisions. Going through these exercises will certainly uncover significant growth opportunities while mitigating risk to your business.