Creating Competitive Advantage

by Smith Jaynie L

Why should I do business with you… and not your competitor?Whether you are a retailer, manufacturer, distributor, or service provider – if you cannot answer this question, you are surely losing customers, clients and market share. This eye-opening book reveals how identifying your competitive advantages and trumpeting them to the marketplace is the most surefire way to close deals, retain clients, and stay miles ahead of the competition.The five fatal flaws of most ? They don’t have a competitive advantage but think they do? They have a competitive advantage but don’t know what it is—so they lower prices instead? They know what their competitive advantage is but neglect to tell clients about it? They mistake “strengths” for competitive advantages? They don’t concentrate on competitive advantages when making strategic and operational decisionsThe good news is that you can overcome these costly mistakes – by identifying your competitive advantages and creating new ones. Consultant, public speaker, and competitive advantage expert Jaynie Smith will show you how scores of small and large companies substantially increased their sales by focusing on their competitive advantages. When advising a CEO frustrated by his salespeople’s inability to close deals, Smith discovered that his company stayed on schedule 95 percent of the time – an achievement no one else in his industry could claim. By touting this and othercompetitive advantages to customers, closing rates increased by 30 percent—and so did company revenues.Jack Welch has said, “If you don’t have a competitive advantage, don’t compete.” This straight-to-the-point book is filled with insightful stories and specific steps on how to pinpoint your competitive advantages, develop new ones, and get the message out about them. “The biggest marketing flaw in most companies is their failure to fully reap the benefits of their competitive advantages. Either they think they have a competitive advantage but don’t. Or they have one and don’t realize it. Or they know they have a strong competitive advantage but fail to promote it adequately to their customers and prospects.“In my research with middle-market companies, I found only two CEOs out of 1,000 who could clearly name their companies’ competitive advantages. The other 99.8 percent could offer only vague, imprecise generalities. These same CEOs often rely on outside consultants to guide strategic-planning sessions. Yet, in my experience, very few consultants – even seasoned ones – give competitive advantage evaluation more than a superficial glance….“Ignoring your competitive advantages can be an expensive and even fatal mistake. Because no matter the size of your company or the kind of business you are in, your competitive advantages should be the foundation of all your strategic and operational decisions. They’re the reasons customers choose to buy from you instead of the other guy .” – From Creating Competitive Advantage

Genres: Business

Paperback

First published January 1, 2006

Reviews

[Justin Raine · Rating 4 out of 5]

This book was a bit dry in places and took a while to get through, but the content is SO worth it. There are lots of examples of seemingly commodity businesses creating unique competitive advantages that get your imagination going, steps for how to identify or create new competitive advantages and next steps for when they are clarified. I appreciated the actionable chapter summaries too! I’m looking forward to putting this into action.

[Alejandro Perez · Rating 5 out of 5]

This book is an absolute MUST for anyone that’s running a business and/or working in sales. The book is actually frustrating since it asks some pretty basic questions that you just can’t believe the you haven’t asked yourself first. It’ll make you redo your whole marketing and sales strategies and tactics which is actually pretty great.

[Khuram Malik · Rating 5 out of 5]

I reckon this book came out a little before its time and is often overlooked.

This book captured many of the points that Seth Godin talks about, but perhaps didnt tell the story in an entertaining a fashion, which is a shame because it has great content.

[Diane · Rating 4 out of 5]

This is really a cool book for the service industry. I would consider it one of the few advantages I have over my competitors.

[Jim · Rating 3 out of 5]

Ok - somewhat lightweight in the material presented - at times it seems like a pitch for her services.

[Lori Grant · Rating 4 out of 5]

A should-read book on competition for knowledge workers who want to be in executive role and entrepreneurs.