In business, much like in investments, you need to know your strengths. Knowing where you have a competitive advantage and understanding the reasons behind it can be a key to your edge. Otherwise, you may be competing with many individuals who have a significant advantage in terms of knowledge, experience, resources, contacts and more.
Do you offer the best value at the lowest price? Are you an innovator at the cutting edge? Or are your customer service relationships so exceptional and unique that clients choose to work with you?
At The Fedeli Group, we regularly reflect on questions designed to create a meaningful impact on the lives of those we serve — both in business and in life. These reflections offer valuable opportunities to recognize our strengths, identify areas for growth and align with our strategic goals. Building on this mindset, we’re reminded of Warren Buffett’s warning about the ABCs (arrogance, bureaucracy and complacency), which can ruin even the most successful organizations. To stay ahead, it’s important to focus on what makes you or your firm truly unique.
So, ask yourself, why should people do business with you? When you identify your strengths and align with them, you are effectively competing to outperform with your unique competitive edge.
If we cannot clearly identify and share our thoughts, how can we effectively communicate them to others?
Playing to strengths
Best price/value. Costco thrives by delivering exceptional value at the lowest cost. Rather than chasing trends or innovation, it combines efficiency, scale and a vast product variety to meet diverse needs, earning loyalty from price-conscious consumers and staying ahead in its niche.
Innovation. Apple takes the opposite approach, charging a premium for cutting-edge products like the iPhone and iPad. It doesn’t compete just on price but on creativity and originality, setting the standard for technology and design.
Customer service. Nordstrom excels with outstanding customer service, offering personalized attention and care. Its customer-first philosophy keeps loyal shoppers returning and appreciating the experience.
What makes a business special
Every organization has its unique strengths. For instance, at The Fedeli Group, our strengths include decades of tremendous relationships, creative problem-solving, adding value as we create value and effective networking — the exchange of information, ideas and resources.
Relationships: Building trust to foster collaboration and long-term opportunities
Adding value: Exceeding expectations with meaningful insights and solutions
Problem-solving: Proactively tackling challenges with creativity and reliability
Networking: Connecting people and opportunities for mutual benefit
These traits aren’t just business strategies — they’re principles that can guide any team or individual toward success.
Define your edge
Whether your strength lies in being a low-cost producer, creating exceptional innovation or providing outstanding service, the key is clarity. Know who you are and what you bring to the table. Avoid spreading yourself too thin by trying to appeal to everyone. Instead, focus on what sets you apart.
By identifying and leaning into your unique strengths, you’ll not only stay competitive but also build trust and loyalty with clients, colleagues and partners. In the end, your competitive advantage can help you towards long-term success — both for your business and your personal growth.
Umberto P. Fedeli is CEO of The Fedeli Group.
