As I confer with clients a critical factor in building a successful business is having a strategy, products, and services that are differentiated from competitors. Not a strategy, products, and/or services that are simply better than competitors, but different. Different in a way that really matters to customers. If a business has a truly differentiated product they can charge a higher price for it.

Too often, small business people dont have a differentiated product or service, making it difficult to price their products as high as competitors. But sometimes the entrepreneur doesnt appreciate that their customers may already see their products and services as differentiated and are willing to pay more for them.

Do you all see this in other products and services that you are researching?