3 ways entrepreneurs can gain a competitive advantage
When it comes to building a successful business, being able to stand out from the crowd is essential. Entrepreneurs must be able to communicate their vision, build a strong team, and navigate an ever-changing landscape better than their competition. Here are three ways to gain an edge:
Consider hiring salespeople
Usually, entrepreneurs are worried about the costs associated with hiring a sales team. However, ensuring that your business can count on a world-class sales team is easier than ever before. Take entrepreneur Cole Gordon’s business as an example. By recruiting and training salespeople to help underperforming businesses, he was able to grow Closers.io to a $30-million-a-year business in 26 months. Its success has made it easier for other companies to scale their operations with quality salespeople generating conversions.
Don’t worry too much about the market
Another common mistake that entrepreneurs make is worrying too much about the market at the time of launching their business. Sure, you want to make sure that there is a demand for your product or service, but what many fail to realize is that market conditions don’t necessarily affect this demand. If your idea is good and it solves a real problem, it will succeed independently of the market. The time you would lose by waiting could be the tipping point between your business’s success and its failure.
Focus on adding value to your idea
Not only is today’s business world a ruthless place where anyone can copy your concept, but they can also bring more value to it. A way to ensure this doesn’t happen is to always look for new ways to bring value. Take Joe Ochal as an example. After having completed his masters degree in microbiology, Ochal opened a full-service chimney and fireplace company aptly named Chimney Scientists. Instead of limiting the company to providing standard services, he applied his expertise to develop new techniques. Applying a cross-disciplinary approach expanded his company’s offerings, which yielded a competitive advantage.