To attract customers, your company needs to have a clear message. Customers want to know what you can do for them and not. Customers want to know what you can do for them, something that no one else can do, and that way your business will win. That's why it's particularly important to have Founder-Market Fit.
Founders who have experience in their specific market tend to have a unique vision and are able to offer differentiated offers. A good differentiation is usually the advantage of the product, marketing or sales. The product advantage is created when your product performs substantially differently from competing products. The marketing advantage is based on the channels you can guarantee and that no competitor can keep.
The sales advantage is usually based on experience and in-depth knowledge of customers. Peter Thiel, in his book From 0 to 1, defines competitive advantage as a secret or a set of secrets, something that you know or believe to be true and that no one else knows yet. Secrets help you to perform better than your competitors and, ultimately, to win. A new report revealed that workers who had experienced discrimination in the workplace were 54% more likely to develop high blood pressure.
Mike Kappel is a serial entrepreneur and the founder and CEO of Patriot Software Company and its subsidiaries. Not only is this business approach more stimulating and exciting, it's also the most effective. As entrepreneurs, let's challenge ourselves to accept competition and use it as fuel to innovate and advance. We'll be in your inbox every morning from Monday to Saturday with today's top business news, inspiring stories, top tips and exclusive reports from Entrepreneur.
