A competitive advantage increases revenue by 30% over the competition or decreases cost by 30%.
Channel access is a key competitive advantage. Channel access lets you connect to a set of customers that others cannot.
Perhaps your previous job gave you contacts throughout the industry that you can now leverage for your startup.
Perhaps you have found a social media channel, SEO, email, or other marketing channel that works well. It may take some experimenting to find that channel but now you have something your competition does not.
In your pitch to investors, you want to highlight this as a key differentiator. It may not be a sustainable advantage for the long haul, but it can be crucial to launching your startup.
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NOTE: Investor Connect is a program under the Texas Open Angel Network which is a 501(c3) non-profit dedicated to the education around startup funding. Hall Martin is the principal contact, and may be reached at http://www.investorconnect.org/contact.
Hall T. Martin is the Director of Investor Connect which is 501c3 non-profit dedicated to the education of investors for early stage funding. All opinions expressed by Hall and podcast guests are solely their own opinions and do not reflect the opinion of Investor Connect. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.