PKF Texas: The Entrepreneur’s Playbook® - Sustainable Competitive Advantage

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Greg Price
Episode: 179
November 08, 2008

Summary:

Greg Price tracks the growth of a small business and tells how to keep things on the right track.

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Greg: This is Greg Price with PKF Texas' Entrepreneur's Playbook. If you're like most entrepreneurs, you started your company because you saw an opportunity in the market. You developed a plan to capitalize on that market and put a team together to implement your plan. As your business grew, perhaps, distance started to grow between you and the people that make things happen in your business. Communications started to break down, and before long, your business became the job you left to start your company. How do you get your business back on track?

Keep it simple. What separates you from your competition and makes your clients keep coming back? What is your sustainable, competitive advantage or SCA? Gather your management team and list the things that make your company great. Is it service, technical know-how, unique product? Whatever it is, expand on it and work to make it even better. Use that SCA to drive your marketing efforts. Take a hard look at your operations and analyze what could or should be done to improve. Ask yourselves, what are the latest innovations in your industry? What procedural changes should be in place to make your product or service flow better from order to delivery? Do you have access to timely and accurate information from your financial system allowing you to make good decisions.

To read and comment on the PKF Texas' Entrepreneur's Playbook, visit my blog FromGregSaid.com. PKF Texas, the fit that's right.