We are always reminding our entrepreneurial clients to focus on what they can control. Easier said than done. Business owners tend to overcompensate when it comes to being in control, and fixate on what is outside of their control, resulting in no traction for the business. External volatilities (economy, regulation, supply chains, increased competition, etc.) often get the headspace and the focus. Internal volatilities can be more undermining, limiting growth or the ability to scale at all.
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This year marks 40 years working with entrepreneurs and it has been both rewarding and illuminating. There is not a day that goes by where we are not inspired by what is being done exceptionally well, and also what could use a dose of reality or insight to help business owners get out of their own way. Over these years, our company has advised and guided countless founders of entrepreneurial enterprises. The Harvard Business School teaches that, “Like death and taxes, commoditization of your products is a given.” However, this doesn’t mean you must accept eventual commoditization as a death sentence to your business. On the contrary, by paying attention, you can proactively shift for strategic advantage and competitive advantage. There is a saying that March winds bring April showers, so I was inspired to revisit a topic I covered back in 2016. I often refer to a strategy as an umbrella over a business. As you review your progress to-date as the first quarter comes winding to a close, do you have a strategy that is truly protecting and nurturing the best interests and opportunities for your company? I am so adamant about the need for business owners to truly understand the powerful impact a strategy can have on a business, that strategy and business planning are intertwined into every blog I write. If you are only considering branding as it relates to your company graphics, website, signage, and promotional materials, then you are not allowing the full scope of branding to take your business to its next level of growth. Branding is not just a marketing initiative. Branding done effectively is a strategic operational initiative. It helps drive your business forward to excel against competition in ways most businesses totally miss. It helps you become the preferred choice. Impatience has served entrepreneurs well, resulting in innovations and solutions to help us do almost anything faster. As a result of our impatience, we entrepreneurs expect everything to happen fast and according to our preconceived notions of when a desired result should be achieved. With our expectations high, we can reach lows easily when a particular result has not been realized as we had hoped.
Businesses that create value for customers and for potential investors understand the importance of defining and continually refining their approach to business for documented and replicable success. Are you giving enough thought and attention to how you approach running your business as a competitive advantage?
Confirming your company’s distinctions is critical to your business growth and increased value in the marketplace. Too many companies fall short in this area, even though on the surface level, they may believe they have distinguished themselves. The key is to set your company apart from competitors in a compelling, customer-centric way.
Too many business executives believe, wrongly, that differentiation requires blazing new paths or innovating something from nothing. Instead, paying attention to trends can help you differentiate and identify needs and opportunities like nothing else can. Being a “trend getter” is a best-kept secret among high-growth companies, with executives envisioning new ways to approach and leverage what already exists.
Too many businesses, in an effort to compete, miss the mark in what it takes to truly differentiate themselves. If you are using your competition as a template for what you think you should be doing, then you will always be following, and will more likely get left in the dust of "not knowing what you didn't know. "Companies that truly excel against competition are willing to put their offerings and how they approach doing business on the line.
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AuthorSherre' DeMao is founder and CEO of BizGrowth Inc. An author, speaker and entrepreneurial innovator, she was named in 2025 among MSN's Ten Women Trailblazers Revolutionizing Their Fields. Her ability to scale and grow businesses has earned her position as a Forbes Council member and regular thought leader and expert in articles on Forbes.com. Archives
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