Do you know your competitive advantage?
In this episode of the Better Human Podcast, I discuss competitive advantage for coaches and clinicians.
Investopedia defines competitive advantage as follows:
“Competitive advantage refers to factors that allow a company to produce goods or services better or more cheaply than its rivals. These factors allow the productive entity to generate more sales or superior margins compared to its market rivals. Competitive advantages are attributed to a variety of factors, including cost structure, branding, the quality of product offerings, the distribution network, intellectual property, and customer service.”
Sounds nice…
But what about for YOU?
You aren’t running a massive operation. Undercutting the competition by $1.23 per unit won’t be your BIG advantage.
Likewise, if you are a coach or a clinician, you may think your advantage is the actual service you provide.
Sorry, it’s probably not. Don’t get me wrong, I am sure you are awesome. However, it’s not why most customers come to see you.
Finding Your Competitive Advantage:
First, look at yourself and your team.
Second, examine how people feel when they get to work with you.
Third, ask your employees what THEY think is the advantage in your company.
Fourth, THINK about it!
Once you locate it, you’ll realize no one else has what you have. Now, you have found your competitive advantage. The only thing you need to do from here is lean into it! This will be a game-changer for you.
If you can’t take the time to find out your unique advantage in your market… TRY HARDER!
-JM
Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.
