From independent startups to the global enterprise, businesses have to constantly battle for that competitive edge. You’re no different. But what’s the best way to achieve that competitive advantage as soon as possible?
Well, in broad strokes, to obtain a competitive advantage there’s two paths you can take.
Path Number One: Differential Advantage
This has a lot to do with creating a superior offering. Investopedia lists several ways to distinguish a differential advantage including:
- Advanced Technology
- Patent-Protected Products
- Superior Personnel
- Strong Brand Identity
Now obviously these changes can’t happen over night. Even more obviously, these changes can cost a lot of money. Developing new tech might involve hiring those pricy “Superior Personnel”, IP lawyers notoriously don’t work for free, and creating a strong brand identity
involves thorough ad and social campaigns which can take a lot of time.
So let’s take a look at option 2.
Path Number Two: Comparative Advantage
Again from Investopedia, a comparative advantage “is an economic law referring to the ability of any given economic actor to produce goods and services at a lower opportunity cost.”
In other words, finding a way to sell your product for a cheaper price than your competitor. To do this (while still keeping the lights on) you need to trim any excess expenses and raise employee efficiency.
The most common place to start? Internal communications.
“The average interaction worker spends an estimated 28 percent of the workweek managing e-mail and nearly 20 percent looking for internal information or tracking down colleagues who can help with specific tasks.”– McKinsey
Your employees become less and less engaged when they have to hunt down information across different apps and devices.
Apps like MelpApp reduce this waste by compiling everything an interaction worker needs inside of one unified application. Instead of spending “20% of the workweek tracking down colleagues who can help with specific tasks,” MelpApp consolidates all of your employees, teammates, coworkers etc. into neatly organized categories.
From there, you can call, message, conference, email, and more without ever leaving the application. See how it works below: