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Business Plan Tutorial:
Tools to Help You Launch Your Own Business

 

Assessing Your Competitive Advantage

 

Once you've completed a detailed SWOT Analysis for your company, you should then be able to more clearly articulate your competitive advantage.

 

What is a competitive advantage -- and why is it important?

• It defines the one thing that you do (that you provide) that is different or better than any of your competitors.
• Offering greater value to your customers than what your competition can offer.
• Competitive advantage can be price, but it is better to be benefits provided.
• You may have more than one competitive advantage, but its best to select just one or two (to keep it simple for your customers to understand)
• Once you identify your competitive advantage, you can claim your position in the market. Positioning is the image you create about your business for your prospective customers.

 

 

 

Lost? Go to the Map of the Business Plan Tutorial: Tools to Help You Launch Your Own Business.

 

Have you checked out the rest of the great Entrepreneur & Entrepreneurial Resources offered on Quintessential Careers?

 

 

Have you checked out the rest of the great free career and job-related tutorials offered on Quintessential Careers?

 

Maximize your career and job-search knowledge and skills! Take advantage of The Quintessential Careers Content Index, which enables site visitors to locate articles, tutorials, quizzes, and worksheets in 35 career, college, job-search topic areas.

 

 

 

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