One of the most important questions when starting and growing a business is what is your unfair advantage. Unfair advantages are those abilities and distinctive competencies that give you the edge over your current and potential competition. This can exist in many different forms and work differently for people. One example of an unfair advantage is a wealthy family. Having an investment from a family member to help you get the start up materials can be an unfair advantage over others who may not have family members who are able to do the same. The same can go from receiving an inheritance from a loved one that can help you start your business in some way.
Another unfair advantage could be a person’s work schedule. Most small businesses start as a side hustle for those who have full time jobs to pay bills. For example, I currently have a job where I work overnight for a week then get a week off. This allows for opportunities that I may not get with a traditional 9-5 schedule. Some people work 4 10-hour workdays and get a three day weekend. This is also a great way to spend a few days a week working on that side job.
In some cases growing up poor is an unfair advantage. I know it sounds a little crazy, but those who had to work harder for what they received, usually appreciates the rewards much more. They also are usually the most hungry for success. Every little small win give them a boost of confidence. Even though it may not seem like it, growing up poor can actually help with the drive more that growing up wealthy.
I would say one last unfair advantage would be having a supportive circle of friends and family. Everyone doesn’t have both parents or siblings to be there for emotional support. It is helpful to have a loving spouse, parents, children, or great friends to be there when times are hard and you start doubting yourself. This isn’t something you can necessarily create, so that would be an unfair advantage over those starting this journey by themselves.
The whole purpose of this post is to show that these “unfair advantages” are not a bad thing to have. Everyone has a different kind of advantage over their competition just like in sports. Football players shouldn’t feel bad because they are naturally fast runners. Basketball players shouldn’t feel bad for being a foot taller than their teammates. They use these things to their advantage to help the team and build their career. Don’t let anyone make you feel ashamed for having a certain advantage over others. Just don’t use it in a negative way. The purpose of any business should be to serve others with what they need in the best way possible. Using all of your resources to do that and making a profit is a good thing. So go and find your unfair advantage and use it to the best of your ability.
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