Startup Funding Espresso -- Competitive Advantages
Competitive Advantages Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. In the pitch, investors look for the startup\u2019s competitive advantage. "Me too" companies are more difficult to fund because they have few if any competitive advantages. A true competitive advantage increases your revenue by 30% or reduces your cost by the same amount. Here\u2019s a short list of potential competitive advantages you can build into your startup: Unique and compelling technology. This gives your product or service additional features and capabilities. Intellectual property including patents, trade secrets, and trademarks. This provides legal protection for your product. Network effects. This can come from a platform approach, data collection, or marketplace creation which both reduces costs and increases awareness. Strong brand. This provides better name recognition resulting in a lower cost of customer acquisition. Virality. This increases sales without an equivalent increase in costs. Exclusive channel access. Access to customers that competitors do not have is also a competitive advantage. Consider how you can incorporate one of these into your startup. Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.Let\u2019s go startup something today. ___________________________________ For more episodes from Investor Connect, please visit the site at: \xa0 Check out our other podcasts here: \xa0 For Investors check out: \xa0 For Startups check out: \xa0 For eGuides check out: \xa0 For upcoming Events, check out \xa0\xa0 For Feedback please contact info@tencapital.group\xa0\xa0\xa0 Please , share, and leave a review. Music courtesy of .