How can I create a sustainable competitive advantage?

In the long run, the single most important competitive advantage of any business venture is its brand. A well-established, well-respected brand is often the single most valuable asset of company.

Example: Coca-Cola ... its most famous product is simply flavored, carbonated sugar water. While the formula for Coke remains a closely guarded secret, with modern science the taste and texture can be readily replicated. The brand, however, adds great value simply because the consumer knows exactly what to expect in taste and quality.

Remember the Alaina Levine Rule of Thumb: A brand is a promise!

Other important potential competitive advantages include ...

1. Intellectual property ... patents, copyrights, trade names, and trademarks
2. Effective sales methodologies
3. Product-line breadth and selection
4. Product design, fit, form, functionality, and performance
5. Customer service
6. Product, service, and process quality
7. Low-cost operations and production
8. Market segmentation
9. Product, service, and process innovation