Do you know how to set your business apart from your competitors?
Here’s an answer in 1 – create a Strategy Canvas.
As we stand in increasingly competitive times, knowing what makes your business different and, more specifically, what your client’s value about your service becomes increasingly important.
A company-wide survey is an excellent way of finding out, as it will also tell you what your customers value about your products and services.
But another way to determine how you stand apart from your competitors is to do a strategy canvas which provides a picture of your business on one page compared to competitors in your industry using a clear set of factors as your benchmark.
The benefit of this exercise:
You will see what your customers value against a clear set of industry factors of how the industry is measured.
You can take a step back from the everyday detail of business operations and see the big picture – you are no longer inside the picture but looking at the frame.
It reveals the necessity of the strategic shift your business will have to make that will set you apart from the competition.
I did this exercise recently with a client. She was encouraged by the clarity she gained about her positioning, which increased her confidence in negotiations.
She could clearly outline the value of her services in sales conversations and knew what made her business different across the industry. Tremendously empowering.
With the Strategy Canvas, you stand apart and focus on the key factors that offer your customers a leap in value while eliminating factors that don’t provide value.
It is a sure-fire way of positioning your business differently and making your company much more attractive.
