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Creating Competitive Advantage: Give Customers a Reason to Choose You Over Your Competitors
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Sales rank 25,697
Customers rating (based on 19 reviews)
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Why should I do business with you… and not your competitor?Whether you are a retailer, manufacturer, distributor, or service provider – if you cannot answer this question, you are surely losing customers, clients and market share. This eye-opening book reveals how identifying your competitive advantages (and trumpeting them to the marketplace) is the most surefire way to close deals, retain clients, and stay miles ahead of the competition.The five fatal flaws of most companies:• They don’t have a competitive advantage but think they do• They have a competitive advantage but don’t know what it is—so they lower prices instead• They know what their competitive advantage is but neglect to tell clients about it• They mistake “strengths” for competitive advantages• They don’t concentrate on competitive advantages when making strategic and operational decisionsThe good news is that you can overcome these costly mistakes – by identifying your competitive advantages and creating new ones. Consultant, public speaker, and competitive advantage expert Jaynie Smith will show you how scores of small and large companies substantially increased their sales by focusing on their competitive advantages. When advising a CEO frustrated by his salespeople’s inability to close deals, Smith discovered that his company stayed on schedule 95 percent of the time – an achievement no one else in his industry could claim. By touting this and other competitive advantages to customers, closing rates increased by 30 percent—and so did company revenues.Jack Welch has said, “If you don’t have a competitive advantage, don’t compete.” This straight-to-the-point book is filled with insightful stories and specific steps on how to pinpoint your competitive advantages, develop new ones, and get the message out about them.
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| Publisher | Broadway Business | | Release date | 04/2006 | | Availability | Usually ships in 24 hours | | Edition | Hardcover |
| | List price | $19.95 | | Our price | $13.57 (you save 31.98%) | | Used price | from $6.98 |
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 Answers questions most can't answer- an unique approach
All companies have a competitive advantage, few do a good job of defining their true advantages and using them to grow their businesses. This book gives you usable ways to find and take advantage of your business' true strengths.This is a must read for those who are leaders in businesses.
The insight I needed in order to differentiate my business
As an entrepreneur I am constantly seeking knowledge in order to improve my business, resulting in customer retention and sales. Creating Competitive Advantage by Jaynie L. Smith definitely opened my eyes on how to differentiate my business without relying on price as the only differentiator. Nowadays most businesses (at least from what I see) use the cost of their goods or services as the only selling point they have when marketing their products. But what they don't know is that relying purely on cost is not going to make your business a success in the long run - at least that is what Creating Competitive Advantage sets out to teach you. And you cannot compare your business to the Wal-Marts of the world. They built that empire on cost as the advantage, and probably the only company in history that will last by doing so (or so we think). If you think you can catch up to what Wal-Mart achieved, then you need to wake up from your daydream and smell the roses - it is not going to happen.
So if we will never become the Wal-Marts of the world, then how do we compete with them? Well first, stop focusing on cost as your advantage. In order to compete with your competitors you must come up with competitive advantages that NO OTHER company possesses. Creating Competitive Advantage helps define what these competitive advantages are, and gives you insight on how to develop your own advantages that will set you apart from the rest. This small, to-the-point book definitely gave me the tools I needed to begin brainstorming on how to set my business apart from my competitors - especially those that already have established pretty dang good competitive advantages themselves.
Definitely a must read if you want that extra push to help your business grow, ESPECIALLY during these times. Why do you think a lot of small to medium size businesses have gone out of business? Well my only guess is that they didn't do a good job differentiating themselves on why you should keep coming back to them.
 Why do your customers buy from you?
Competitive Advantage - it is the stuff of every business owner's dreams. The problem is that Competitive Advantage is a moving target. Ms. Smith rightfully makes clear that there is a never ending need to evaluate and re-invent competitive advantage.
Smith's book is on point with her advice on how to put creating competitive advantage to work in your organization. At the end of each chapter is a summary of the major points and reminders of the lessons learned from the case studies.
Smith uses ample and interesting case studies to make her points. However, what would normally be a strength turns into a weakness as Smith repeatedly pounds home that these are "her clients." Unfortunately, I've seen this same problem with speakers. Often, in an attempt to build credibility, speakers will talk about "my client will . . . ," or "I have a client who . . . " or "one of my clients . . . " The difficulty is, this becomes a hard sell instead of simply building credibility. Smith's book suffers from this difficulty. What could have been an excellent work, and very timely for the present economic conditions, is diminished by what comes across as self-promotion.
One piece of advice Smith gives is "So brag a little." I'm uncomfortable with that advice. I understand that companies need to make sure the customer base knows of the advantages of dealing with them. However, especially in this market, I'm finding a real push back on a hard sell. So if you can brag a little without it being perceived as a hard sell, then perhaps that will work for you. In Smith's case, the perception of this reader is that she went much too far in "bragging a little."
Having said all that, I still recommend that you read this book and pull out the many good points Smith makes. You may have to work to get by some of the self-promotion, but there is a still enough solid advice to make Smith's book worthwhile.
Identifying Your Competitive Advantages
This is what I did before buying the book...
I called each of my offices and asked them 'What do we do better than our competitors?'. The results were quite mixed with the main thing being we take care of our customers and know them. The worst response was there are no differences. I wrote down some of my own ideas and found it difficult. We as managers get so wrapped in doing business that we loose sight of our own advantages.
I read this book from cover to cover in less than a week and was able to write down no less than 25 competive advantages! I highly recommend this book and also recommend to do with a notepad beside you as ideas will pop in your mind very unexpectedly.
Enjoy the book.
Prescription for Improving Your Advertising
If you are as tired as I am of being bombarded with advertisements and marketing that all say the same thing, and in the process, really says nothing, then this book is a revelation. Just as bad is dealing with sales reps who all say the same thing. As a consumer (personal and business), I'm constantly looking for ways in which a product/service can be distinguished. I want to buy on value because with few exceptions, I don't trust anything or anyone who is the low cost provider.
Every company executive, marketing, and sales professional should read this book. It cuts right to the point of why so much marketing and sales doesn't work. Better yet, the book makes it clear what does work. Making the link between Competitive Advantages and marketing/sales is brilliant. We aren't trained to think of Competitive Advantages as a sales differentiator. When someone talks about competitive advantage, it is often so esoteric and at a level where it has no real applicability. Creating Competitive Advantage takes the concepts to a level that is applicable to almost every business, and easy to understand.
Probably the best review you can give any book is to track its influence. Ever since I read the book, I am beginning to notice more and more companies using Competitive Advantages in their advertising. It's refreshing, and most importantly it works. Creating Competitive Advantage provides a framework for re-thinking how companies advertise, market, and sell. I got more value out of this than all the rah rah sales drivel that seems to sell by the millions. The book is approachable, written at a level that encourages you to take action, and includes numerous useful examples. On top of that, the book doesn't assume every reader works for Fortune 100 company. Since the majority of executives and business leaders work for small to mid-size firms, this book speaks to that audience in a way most business books don't. Excellent!
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