Gaining competitive advantage is what the business is all about. If you cannot do it better than your competitors, you are out of the game. It is not just to get a halal certificate for your local restaurant. Your competitors can get it too. Competitive advantage has to be unique. Something that your competitors cannot copy.
The best type of competitive advantage is talent – human talent. Build a team. If you have a team of dedicated, professional, and skilled individuals. Your competitors cannot copy it. Even if they hire your entire team, they might not be able to give the same output with them. It is obviously more than the people. The organizational culture, environment, infrastructure, organization structure and design, empowerment, etc. are all the variables that make a team work the way it works.
Hire great leaders. If you are the CEO, become a great leader. If you don’t have the potential to do it, better hire someone else who is better than you. You must stand on the shoulders of the giants to gain competitive advantage. Once you have the most effective leaders in your organization, do not lose them because if you lose them, you will no more enjoy a competitive advantage.
It takes years to gain competitive advantage and it only takes a few moments to crush it.