What's Your Competitive Advantage?

While researching my own competitive advantage, I google it and up comes this MBA guide. It’s overcomplicated. So, I’ve decided to interpret it for us Entrepreneurs.

In order to have a competitive advantage, your product should offer one of the following:

Lower Prices
Value Added

Many “real world” business professionals I know say it actually takes both to create a successful business. Along with resources:

Strong Relationships with Strategic Partners
Direct Distribution Channels to your Customer

Don’t forget IPs:

Proprietary Technology
Tradesecrets
Patents

From my experience, this is what Investors want to hear about your competitive advantage.