Entrepreneurs need to see, catch and ride the massive waves of change as we come out of the lockdown.
Grow Your Business, Not Your Inbox
Stay informed and join our daily newsletter now!
6 min read
Opinions expressed by Entrepreneur contributors are their own.
Entrepreneurs are constantly seeking an edge or an advantage. In fact, most entrepreneurs are wired to look at the world from an opportunist’s perspective and are regularly working an angle, an approach, or a way of attacking a business opportunity that others have missed or have left exposed.
Business consultants get paid big bucks to help organizations identify, create and maintain a ‘competitive advantage’. A competitive advantage is the million-dollar term business textbooks use to describe an entrepreneurial edge. A competitive advantage is defined as the ability of an organization to provide its products or services with either: 1) a higher value to their customers than a competitor but at a similar cost; or, 2) the same value but at a lower cost. A competitive advantage that is sustained should provide a business with the ability to realize consistently higher profits than its competitors.