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24 Famous Quotes and Strategy for Creating Competitive Advantage

Today, I will be sharing with you some famous quotes and strategy for creating competitive advantage from successful entrepreneurs. Do you do business in a competitive industry or environment? Do you want some good competitive advantage strategy? Then read on as I share with you strategies for creating competitive advantage.

                Famous Quote and Strategy for Creating Competitive Advantage

1.            Good enough never is. Set your standards so high that even the flaws are considered excellent.” – Debbi Fields

2.            “We brought prices down, down, down so they are now essentially commodities. So if we want to succeed in this business, we have to move in a direction of adding other value to the relationship with our clients. And so where I might have said 15 years ago, ‘We want to be the best discount brokerage,’ today I want to be the best ‘relationship company’ in financial services.” – Charles Schwab

3.            To succeed in business, you must build a brand and never destroy it. One competitive advantage I had when I ventured into manufacturing was my brand “Dangote,” which I diligently built in the course of my trading commodities.” – Aliko Dangote

4.            “The most meaningful way to differentiate your company from your competitors, the best way to put distance between you and the crowd is to do an outstanding job with information. How you gather, manage and use information will determine whether you win or lose.” – Bill Gates

5.            “There is always competition. Whatever you do, there will be competition, and you have to decide how you’re going to play. For me, I had to be the very best. I had to be the very best. Because, if I was not the very best, I would end up being number two.” – Debbi Fields

6.            “Our organization just has to outfox our larger competitors by really emphasizing our value proposition, which is really outstanding compared to them. The good news is we are a highly flexible organization. We have a national footprint, we have low costs, we’re efficient; so we can compete at this point with almost anybody and do a great job for our clients.” – Charles Schwab

7.            “The competition to hire the best will increase in the years ahead. Companies that give extra flexibility to their employees will have the edge in this area.” – Bill Gates

8.            “Your greatest and most powerful business survival strategy is going to be the speed at which you handle the speed of change. That speed of change is trend.” – Ajaero Tony Martins

9.            “A company’s ability to respond to an unplanned event, good or bad is a prime indicator of its ability to compete.” – Bill Gates

10.          “The IKEA spirit is strong and living reality. Simplicity in our behavior gives us strength. Simplicity and humbleness characterize us in our relations with each others, our suppliers and our customers.” – Ingvar Kamprad

11.          If you don’t have a competitive advantage, don’t compete.” – Jack Welch

12.          “There are multiple ways to be externally focused that are very successful. You can be customer-focused or competitor-focused. Some people are internally focused, and if they reach critical mass, they can tip the whole company.” – Jeff Bezos

13.          “An organization’s ability to learn and translate that learning into action rapidly is the ultimate competitive advantage.” – Jack Welch

14.          “Don’t try to be all things to all people. Concentrate on selling something unique that you know there is a need for, offer competitive pricing and good customer service.” – Lilian Vernon

15.          Information is power, particularly when the competition ignores the opportunity to do the same.” – Mark Cuban

16.          Our business is about technology, yes. But it’s also about operations and customer relationships.” – Michael Dell

17.          Make your product easier to buy than your competition, or you will find your customers buying from them, not you.” – Mark Cuban

18.          “We look for opportunities where we can offer something better, fresher and more valuable and we seize them. We often move areas where the customer received a poor deal and where the competition is complacent. And with our growing e-commerce activities, we also look to deliver old products in new ways. We are proactive and quick to act, often leaving bigger and more cumbersome organizations in our wake” – Richard Branson

19.          “Information is power, and the gain you get from empowering your associates more than offsets the risk of informing your competitor.” – Sam Walton

20.          “Pretty much, Apple and Dell are the only ones in this industry making money. They make it by being Wal-Mart, we make it by innovation.”

21.“We have the best customer satisfaction record, based on Transportation Dept. statistics, of any airline in America, the fewest complaints filed per 100,000 passengers carried. So you’re not just getting low fares, you’re also getting wonderful customer service.” – Herb Kelleher

22.   “Our business practices are no different than those of our competitors. But we are bigger, and thus more visible, so we get more flack.” – Philip Knight

23.  The world is changing very fast. Big will not beat small anymore. It will be the fast beating the slow.” – Rupert Murdoch

24.          “Be big and fast and flexible.” – Reed Hastings

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