Competitive Advantage....

Think you know your competition? Think again. What gives you competitive advantage over your competition in your business and personal relationships? I read the book cover of Competitive Advantage and this title sent a blaring alarm off in my head. It's rather catchy and makes perfect sense. I thought about it from both perspectives of business and personal. On the business side marketing and technology is key. Long gone are the days where you can survive without a website and referrals can only keep you afloat for so long. Shoot even a day laborer might get more business if he had a vcard! You have to get your brand name out there so it becomes a household name and even so outside the normal circles in which you do business. I learned while working at RBC that you should keep a pipeline of leads and this pipeline is fed by your inner circle. As it relates to that particular business your inner circle would be a real estate agent, lawyer, physican, insurance agent and other bankers. These five professions in relation to banking would help to generate new business for you. Think about what businesses you patronize and how they can in turn help to grow your business. I love learning and applying it to other avenues which brings me to the personal side of things. Personally I like to support black businesses first. I'm so tired of hearing how little the dollar is circulated in my community before it ends up back in general population. I even sport at "Bought Black" button on my members only jacket and often get comments and inquiries on it. Although I originally got it from buying Jay Z's black album it has alternative meaning for me. Also when I think of personal relationships in terms of courting you market yourself to the best of your ability in order to attract those that you wish to 'patronize' your business. We do this alot better in our personal pursuits than on the business front and I think if we can figure out a way to marry them both we could discover a goldmine.


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