Does your business have a sustainable competitive advantage? May 16

Competitive advantage in business

Entrepreneurs often use the words ‘capability’, ‘competency’ and ‘competitive advantage’ to describe their businesses. These definitions, however, are frequently misunderstood. Having a competitive advantage is more than having core competencies. This is why Amazon trades at over 170 times earnings while the average gas station can be purchased for three times cash flow. It’s important to clarify these concepts, which can provide a framework to help you identify and nurture your business’ competitive advantages. Continue Reading