Developing and promoting your competitive advantage are indispensable towards getting the best job out there. Before I go any further, let me define what competitive advantage is. The definition for competitive advantage is ‘a condition or circumstance that puts a company in a favorable or superior business position‘. Individuals have competitive advantages just like companies.
How to develop your competitive advantage
Doing a SWOT analysis is a way towards finding your competitive advantage SWOT stands for strengths, weaknesses, opportunities and threats. Strengths and weaknesses are internal. Opportunities and threats are external. Now let’s conduct a SWOT analysis. Write out all of your strengths, weaknesses, opportunities and threats. The goal is to maximize your strengths and opportunities and to minimize your weaknesses and threats. From the SWOT analysis, you will now know what you are good at. Once you know this, the next step is promoting your competitive advantage in the marketplace.
How to promote your competitive advantage
There are three steps towards effectively promoting your competitive advantage. These steps are: research your industry, leverage your transferable skills and avoid myopia. When you research your industry, look at what your competitors are doing. What are the trends that are out there? What pieces of the current trends can you incorporate in your repertoire to increase your marketability? If can find an angle to exploit then go for it because this is your competitive advantage.
The next step is to leverage your transferable skills. You have discovered them from doing the SWOT analysis. These are your strengths. Look to see if some of your transferable skills overlap with the current industry trends. In addition, see if these skills can work in other industries which leads me to the third and final step: don’t be myopic. You can work in more than one field. You can also have more than one competitive advantage. You don’t exclusively only have to have either hard skill or soft skill competitive advantages. In this global marketplace, you will need multiple competitive advantages in order to get hired.
By following these steps, you will increase your competitive advantage marketing capability.