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Define Your Key Competitive Advantage

Posted by mjmedlock on April 10, 2019 in business startups |

It’s unlikely that you will be entering a completely empty market place. You will have to compete with incumbents of some form. It is therefore vital to have a strong competitive advantage over the competition. A commonly used model is the VRIO framework. Although this is a good model, it is too complex for a startup situation instead we will use the model suggested by Bill Aulet in The Disciplined Entrepreneurship Workbook.

According to Aulet an advantage, or core as he puts it, should be:

  1. unique
  2. important to the customer
  3. growing
Exercise

Identify the value proposition and key competitive advantage of the following entities.

Aldi

Audi

Google

Karstadt

Zalando

The EU

H&M

Nordsee

Spotify

Majorca

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