How do you achieve a sustainable competitive advantage?
January 30, 2019
It’s about your SCA – your Sustainable Competitive Advantage.
It’s not just what is different or unique about your business, it’s what it does, or can do, that is especially valuable to existing and potential clients that matters.
The business world is full of TLAs (three letter acronyms). Many of these are a shorthand way of expressing useful ideas or concepts. But there are some which are of limited use or value. SCA is, in our opinion, one of the former.
What is your Sustainable Competitive Advantage? In other words do you know what it is about your business or organisation that underpins its success and potential?
But, more than that, it is about how the business can leverage these attributes and capabilities to deliver a service or product which clients will value highly and which – if your business gets it right more frequently than it gets it wrong – will have a profoundly positive impact on its profitability and financial performance.
Think of your SCA as a filter. If you truly understand your business’ SCA you are more likely to have a clear grasp of what the right development strategies and marketing approaches should be.
Imagine if your SCA related to being the highest quality provider in the market but your marketing doesn’t communicate that and your current strategic focus is to save cost on machinery / personnel / processes that would, in fact, detract from a high quality service / product. There is a mismatch – and one which is likely to have a cost attached to it.
Our Growth+ business advisory and board support service has been established for several years and we work with owners and their management teams to help them identify, prioritise and deal with the strategic challenges and operational obstacles which are standing in their way.
The question of what comprises your SCA – and if you don’t think you have one, how it can be built – goes to the heart of every business’ strategic focus. What is it about what you do that you can do better than others and which clients are willing to pay you for?
A business will know when it truly understands its SCA because when it is framed as a statement – “We will succeed by [achieving our SCA]..” – it just feels right. It resonates with your culture, with how you see yourself and you want to be seen by customers, competitors and stakeholders.
In fact we think that it is no exaggeration to say that clearly understanding your SCA is likely to be fundamental to achieving your business’ growth goals.
We have a bespoke management half day programme focussed upon exploring and then defining your SCA. It cuts through the fog which can so often surround questions such as : Why is the organisation here? Why does it deserve to survive and prosper? How can it do this? What should it focus on?
With our help, clients are able to focus on these core business issues and, importantly, take concrete steps to deal with them.
Come and talk to us to see how we can help you…
Also we have created a free video series regarding our Growth+ service which you can watch here.