Sustainable Competitive Advantage

"To survive and prosper, a small company must establish a marketing presence based upon a sustainable competitive advantage."

Explore this principle (which makes it easy for people to buy from you) by first defining some terms:

Marketing presence is the message your business communicates to its prospect and customer base. To be effective, the message should be clear and simple -- and contain the key attributes you want associated with your business.

Competitive advantage is the sum of those attributes that differentiate your business from its competitors. This is your core competence. You develop, build and enhance it through a clear understanding of your customers' wants and needs. You implement it through a strategic plan (a directional compass) that can help you quickly adapt to changes in their wants and needs.

Sustainable means to keep in existence, to maintain and affirm the validity of, to support the spirit, vitality and resolution of, to encourage, to endure and withstand.

BOTTOMLINE: Only through your continuous understanding of what makes your business competitive can your business survive and prosper. GE's former CEO, Jack Walsh, once said, "If you don't have a competitive advantage, don't compete."