Competitive Edge - The Key to Advancement in Today's Crowded Marketplace

Please do not be deceived by the above caption; this piece is not meant for only business people. It addresses issues concerning aspiring entrepreneurs and corporate workers alike. Peradventure you’re a fresh graduate who is job-hunting or a diligent student that is desirous about a successful career in the corporate world after graduation; I urge you to embrace this write-up as it is written on a broad spectrum with the aim of realigning the perspective of whoever comes in contact with it. Suffice it to say this timely piece has something for every progress-minded person. 

Sermon over; I will start by crystallizing the term ‘Competitive Edge’, using contemporary trends as yardsticks to further drive home the important role it plays in aiding an individual’s drive for success in these unpredictable times we live in; either as an employee, employer or service provider. Please note that in the context of this write up, service provider refer to people who earn their income through the utilization and application of special skills.

Competitive Edge is what spurs a person to outperform another given equal chances and opportunities. It is what propels an employee to be outstanding in the work place such that he or she is promoted above his or her pairs, even in the face of stiff opposition. It empowers a focused organisation to succeed far above its competition irrespective of the harsh business environment. It is also responsible for the large patronage a particular product enjoys in the market to the detriment of others that, sometimes, may be of better quality. As a matter of fact, competitive edge has the propensity to separate from the crowd whoever or whatever taps into its potentials. In a nutshell, competitive edge increases the value of a person or thing in the market place and thus attracts commensurate reward.

Since every mature person will at one time or the other fall into one or more of these three categories – Employee, Service Provider or Business Owner – it becomes instructive that I treat each on its individual merits. However, this does not suggest that one may not make progress in a particular category. The significant difference, perhaps, would be that each field of endeavour demands different levels of skill, courage, discipline and grace to soar high and remain at the top.

Considering the fact that the surest way to achieving success in any sphere of life is for a person to accept full responsibility for whatever becomes of his or her choices, I’ll treat each category from the perspective of sound decisions which will eventually determine the quality of results you produce at the end of the day. For the purpose of clarity, I shall treat them in this order: Employee. Service Provider. Business Owner.

EMPLOYEE:

Anyone who earns a living working for an organisation and is governed by the rules of such firm is an employee. The good thing about being an employee is that it guarantees regular income; that is if you’re fortunate to work in a firm that is responsive. The bad thing about salary job, though, is that you could remain a wage slave for the better part of your active life if you allow those monthly stipends to becloud your sense of reasoning. In life significant progress seldom happens by chance; no pain, no gain. The level you are today is a clear reflection of the actions you took yesteryears, so also the lifestyle you’ll live tomorrow is dependent on the one you’re leading presently.

The level of commitment you exhibit in another man’s business and the amount of resources you also channel towards your exit plan from a salary job will ultimately determine the degree of success you will record in your own venture. You can’t afford to devote all your time and resources to the one at the expense of the other. You must of necessity strive towards striking a balance on both sides. Your boss should be able to recall your name at the speed of light whenever matters relating to productive staff are on the table. Likewise, the business you’re working towards establishing must also recognize your voice from a distance whenever you speak.

Endeavour to be known as an effective team-player within your organisation. You should also be identified and related with outside that environment as an aspiring entrepreneur who’s developing the necessary abilities and capabilities to succeed in the business arena in the near future. These and several other actions that will be captured subsequently are essential to gaining a competitive edge over your pairs.

Friend, if practiced consistently, the few strategies I’ve shared here will go a long way in helping you walk out of your paid employment into you own profitable venture unscathed and at the right time.

“That you’re broke today is no excuse

why the world should not celebrate

your great contributions tomorrow”

SERVICE PROVIDER:

I had earlier mentioned that Service Providers are people with special skills such as athletes, musicians, artistes, etc. These fellows usually make lots of money “with relative ease”. Folks in these fields often move from penniless to super rich within short intervals such that others might be tempted to wonder if they’re not in the wrong profession. But one thing is common with most Service Providers the world over: they spend large and live large, not minding what the future holds.

Studies upon studies have shown that many of these folks eventually return to where they started from – penniless – after few years of living in luxury. This is no fluke; a house built on faulty foundation will crash like a pack of cards at the slightest challenge. Do not misunderstand me, please. Making money is good; having the means to make it in excess is also fantastic. But knowing money, understanding its characteristics and according it the right value it deserves is much more important.

There is a popular saying that, ‘a fool and his money will soon path ways’. From available statistics, this is usually the lot of many Service Providers. They make several millions without the requisite financial skills to manage such large sums and, expectedly, they squander everything. Some go into spending sprees, neglecting the practice that generated the resources in the first instance. By the time they remember to service their talent, the trends might have changed and, more often than none, you find such chaps struggling to replicate their success gimmicks in an ever-changing market.

Money is a very strong spirit which does not corporate with just every Tom, Dick and Harry. If you fail to treat it right – to the least denomination – money will not only disrespect you, it may rubbish your financial aspirations. This brings us back to the issue of responsibility and results. What must be done today should never be shifted till the next day. My friend, I strongly suggest you learn and master money management skills before seeking money. Majority of those who have worked against this core principle of wealth acquisition in time past are reaping whirlwind today.

Look around the society, there are just too many cases of hitherto successful contractors, footballers, musicians, actors, etc. etc., who are now shadows of themselves. Several service providers that were reigning back in the days are today replicas of poverty. And guess what! Many more will join them in the near future... unless conscious (drastic) steps are taking to prevent such individually.

Once again, it is not bad to have skills, neither is it wrong to earn a decent living through the utilization of same. But it could be very dangerous to gamble with the proceeds of your talent or gift through a frivolous lifestyle. Indeed, life is in seasons. And as such, it could be suicidal to lead on without concrete plans for the future simply because money is flowing today. Time is coming when the money rain may not flow as much as you have it now. Please, refuse to end like others. Do everything possible, legitimately, to gain competitive edge over your pairs by acquiring investment skills, and also practice them. Learn what others are not learning; do what others are not doing.

Stop living your life by chance and luck; because the chickens will come home to roast at the fullness of time. Do not spend every dime you make buying stuffs and living large. In case you don’t know, there’ll always be a better model of every product in the market today. Save and make some investments for the rainy day; invest a reasonable percentage of what you’re earning through your talent. Learn to delay gratification today and consciously build solid structures towards a financially secured future for yourself and your loved ones.

“The race for financial freedom is on

and will continue, irrespective of

your present position – in or out”

BUSINESS OWNER:

This is the most difficult and, at the same time, most profitable of all three categories. If you can patiently learn, master and exploit the art of buying and selling or producing and marketing on a large scale to a good percentage of society, then your financial troubles will become history in no time. But I must warn that these traits take time to mature and require lots of discipline to sustain. In other words, responsibility and courage are key to your advancement in the business world.

In this category, faith without commensurate work often results in “fatal” failure. Note that an idea not put to profitable use is not different from ignorance. Do not allow the fear of failure to cripple your God-given potentials. Refuse to remain in servitude for life! Of course, you mustn’t be 100% ready before you begin your journey; it is what you are able to push out that others will help you refine. Don’t be scared!

As soon as you are able to discover one advantage you have, even if you’ve not yet conquered all your disadvantages, start something – on a small scale though. Put yourself in the mould of the proverbial Cat with nine lives, believing that if you fail in one endeavour you will succeed at another. From experience, I can assure you that the problem is always with starting. Once you summon the necessary will-power to push out something positive, help will come your way sooner than you expect. It may not be a smooth ride all the way, you may wobble and fumble initially; never mind. Just keep at it, you will stand strong eventually.

Carry out a mini research to discover what the leaders in your field are doing right, and also look out for their shortcomings. You can then develop your strength around such areas. Find out what the market is missing from your industry and make it available at the best possible price.  That's your ticket to the next level. You must work on your risk-taking confidence. Look out for new challenges, and never hesitate to try something new. Dream big dreams! Do not allow your present realities to becloud your imaginative capacity for a better tomorrow.

Be good to your associates and clients. Give a helping hand, when necessary. Never expect anything in return from those you render business or financial assistance to in the line of duty. Always see such people as necessary channels through which you’ll pay your own “price”. The streams that will eventually water your garden and increase your harvest might come from unexpected sources. So you’ve got to be wise!

Be energetic and innovative. Treat every challenge you encounter as stepping stones to your next height. Kick-start your journey to greatness by making positive contributions from where you are; through smart thinking, hard work and determination.

Judiciously practice the above strategies and a lot more that I’ll share in my coming materials, and you are sure set to transcend from a little Cat in the neighbourhood into a mature Tiger in the jungle.

“No one started out having all the skills,

connections and resources needed...

Your case is not an exception!”