It is no secret that finding your competitive advantage can propel your success in your professional career. However, just like with business, you can have a competitive advantage in other areas of life too. This article shares three techniques to find your competitive advantage, whether professional or not.
Pay attention to your past
Any competitive advantage you may now have formed through the years. The more your experience in one field, the higher the chances you have a competitive advantage there. However, it does not need to be related to your work.
Look at your past and see what you have or seem to have that other don’t. It can be a skill, a resource, an experience, or even a relationship you may have with someone. Look at all areas of life, whether it is about your career or personal life. You never know when your competitive advantage hides.
Did you excel in some area of life? Or maybe some friends asked for your device about a specific topic? These can all be great candidates for a competitive advantage that already lies within you. You only have to shed some light on it. All you have to do is start digging into your past.
See what the world needs
A competitive advantage is a relative term. That means you can have a competitive advantage only if you have a skill that others don’t. The challenge is that you don’t know or can easily find out what skills other people have. However, you do not need to.
You can instead see what the world needs the most. After all, if there is a problem, it probably implies there is not enough talent or willingness to solve that issue. Take some time, and note down five significant issues that the world has, according to you. It does not need to be a perfect or complete catalog of all ongoing challenges. The important is that anything put on the list matters to you personally.
Once you have identified these five issues, think if your skillset can help bring a positive change in at least one of them. If yes, you may have found your next competitive advantage. If not, see if you are willing enough to invest time and acquire the needed skills. The more your motivation about solving an issue, the more likely you can create your next competitive advantage. And that brings us to the next point.
Pin down your inner motivations
Finding your competitive advantage does not only mean that it already exists. Most people create their competitive advantage during their life journey. No economist or personal trainer was born knowing everything about their subject.
They all started with an interest that slowly took the form of desire. Once you intend to learn something, you are one step closer to becoming an expert and creating your competitive advantage. However, not every desire has the capacity to transform to a competitive advantage.
There is a differentiating and critical factor at play here. And that is your inner inspiration. If what you want to do agrees with your motivation in life, it is so much easier to create a competitive advantage out of your desire. So, take some time to write down what motivates you in life. It does not need to be business-relevant. After all, you do not need a company to make a difference in the world.
Takeaways on finding your competitive advantage
- Look at your past and see what you have or seem to have that other don’t
- Take some time, and note down five significant issues that the world has, according to you.
- Find your inner motivation and see if you can create a competitive advantage in the area of life that matters the most to you