Your Company’s Position in the Market
Standing Out
Companies that are known to be the best at something, to have an edge over others, or to have something unique and desirable tend to garner higher values than those that don’t. It is simply a fact.
So what is your company’s position in the market?
When true advantages are capitalized on, they tend to translate into the ability to generate more income, or to reduce costs. Both help the bottom line and that increases value. But before you can take advantage of this value, it’s important to define what your advantages are. Maybe it’s time to assess how you compare with your competition.
Taking Stock
So what is unique about your aviation business? When first compared, a lot of businesses can look quite similar. Here are a few ideas to help you think this through:
- What is it that your company does better than those you consider to be your competition?
- Do you have any key advantages as compared with your competitors?
- Better quality?
- Better pricing?
- Unique products or services?
- Proprietary products or services?
- If you are a location dependent business like an FBO, is your location something that sets you apart and gives you an edge?
- What about your staff? Do they have unique skills that are in demand?
- Is there synergy in your aviation business that allows you to do something particularly well?
The Added Value
Once you have determined what gives you the advantage or sets you apart in the market, you can begin to consider how to make the world more aware of those advantages. Typically this means focusing and targeting your marketing.
But at the end of the day, it can add to your revenue stream and your bottom line.
And that adds value.
