Authority Magazine
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Authority Magazine

Chris Roth of National Technical Institute: Five Things You Need To Know To Create A Successful Service Based Business

Understand Your Competitive Advantage
With so many similar service businesses in the market, you need to discover what makes your business unique. In my experience, most service-based business “borrow” their former employers set of advantages. Maybe it’s because you are cheaper than everyone else offering the same service. Ask yourself why people should choose you instead of going with your competitor. I find that the magic number is three. You need to discover three things that are completely unique to your business that your competitors do not possess.

It could be that you offer high-quality goods or services your customers will not get anywhere else. Your competitive advantage could also be that you are big on going green or provide a social mission.

If there is nothing about you that stands out from your competitors, the only reason to use your services will boil down to price. Your services become a commodity. Find what makes you stand out and leverage on this to beat the competition. Look at your core values closely.

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