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One of the reasons small companies fail is that they do not understand what their unique value is to their customers. Figuring this out does not just entail an in depth product or service analysis. Rather, part of that analysis is figuring out how we fit into the picture. What are our strengths and experiences that make us able to do things that others cannot do in the same way?
Pizza is a product example of uniqueness. What is so unique about a pizza? Just ask ten people which brand of pizza they like the best and you will begin to see the point. There are hundreds of pizza recipes on the market today. Many pizza companies are making large profits. Isn't a pizza a pizza? Evidently, not.
Cereal is another product example of uniqueness. Have you looked at the cereal aisle in your local grocery store lately? How many different varieties of cereal does a society need? Yet, they continue to successfully evolve and add more flavors, shapes, and ingredients to suit the current customer trends.
What about attorneys? After one sorts through the different areas of specialization, isn't a lawyer a lawyer? They would be the first to tell you, absolutely not. Then they would go on to explain how they differ from their competitors and colleagues. What would those differences be? After the credentials and years in business, they would get around to their experiences. More importantly, how they interpreted those experiences, what they learned from them and how those experiences made them more skilled at what they do. They don't call them "war stories" for nothing. This battle ground is the professional's real-world university.
Whether we are part of a large corporation, a department, a small business, or a sole proprietor, our most competitive advantage is ourselves. It is critical to recognize what our strengths are and how to best apply those strengths to be truly successful in business. The pizza and cereal companies do not build upon their weaknesses, they build upon their strengths. The attorney builds upon his strengths by taking specific types of cases that will get him to be recognized as the best in his area of expertise. Trying to improve weaknesses rarely gets you to the level of greatness. There is just too much to make up for by not starting out naturally strong. However, improving natural strengths gets you that much closer to greatness. That is competitive advantage.
Discover what your strengths are. Consider what comes easily to you that others are amazed at. What kinds of things are so natural for you that you take them for granted? Ask your friends and family about what they see your strengths as being. When you have your top ten strengths list, think about how these strengths can be applied to the delivery of your product or service.
Bottom line: For the things that you are not so great at doing, delegate them to people who are great in those areas. Develop what you are truly good at doing to allow more time to become great at what you do.
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