Nifty Products Aren’t Enough
It’s not enough to have a great product or service — copycats are always on the prowl. The key to surviving and thriving in a competitive landscape, entrepreneurs agree, is to continually differentiate yourself and add value.Strategies for adding value vary considerably, depending on a company’s market niche. Ask yourself:
- How is my company different from competitors?
- Do we have characteristics that rivals can’t copy?
- What can we offer that others can’t?
“Don’t overlook negative points,” says Brent Bingham, founder of pest-control business Eclipse Marketing Inc. “Often you can find a way to turn them around and use them to your advantage.”
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