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Friday, June 3, 2011

Why 'Core Competency' Is Important To A Startup

What is core competency you may ask?

Well, I like the answer that Norm Brodsky gives in his book, The Knack:
"It was the one thing we had that our competitors couldn't offer, and by the time they caught up, we had a foothold in the market and were known for providing that service."
What is the one thing your company can do quickly or efficiently that will put you a step ahead of your nastiest competitors? (You know, the ones who lack one ethical and unique bone in their body)

The answer to this will be your core competency.

Take Amazon for example. They changed the scope of e-reading with the Kindle. No one was thinking ahead to offer e-reading the way in which Amazon packaged it. They understood book lovers better and they made e-reading a trend for the modern world! And although there are tons of e-readers now, none match the easy-read of the Kindle, or the tons of books available through Kindle. They had a foothold in the market before their competitors could catch up.

When I work with a startup who has been on the market for at least six months, we try to find or establish this core competency. It is like the "ah-ha" moment for a startup.

I hope you find your ah-ha moment.

Cheryl Isaac is a personal business strategist to startups who require employees, office space, and online marketing strategies.  She contributes to Forbes here and blogs about Making Business Personal here.  To turn your start-up into an operational business, please contact her for a  strategy session here

1 comments:

Core competency is very essential to a startup because it will help you on motivating yourself on striving hard for your web business. It will also inspire you to adopt more SEO techniques that can aid on boosting your site.

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