WEST VANCOUVER, BC / ACCESSWIRE / January 18, 2022 / Experienced entrepreneur and investor Abeir Haddad was recently featured in an exclusive online article, where he highlights the importance of maintaining a competitive edge in the business world. With over twenty years of experience under his belt, Abeir knows what it takes to establish himself in the marketplace. According to the article:
"The goal of a business is to make money. Abeir Haddad, a West Vancouver, BC-based entrepreneur and investor, believes that the more you know about how your company makes money, the better positioned you will be to identify and manage any risks that could threaten your profits. The ability to maintain your competitive advantage is a key factor in being successful."
Abeir makes the distinction between several factors that play a role in a company's success - cost leadership and differentiation. He claims cost leadership is a business strategy where a company establishes itself as having the lowest production cost in a specific industry. Cost efficiency is often achieved through large-scale manufacturing. Cheaper production costs allow companies to remain profitable despite lower prices. Differentiation provides value through a unique product or service new to a specific market. While both strategies can be used simultaneously, it is vital to perform extensive research before beginning production.
He further states before entering the market it's important to self-reflect. He encourages individuals to ask themselves several questions before committing to a product or service.
"Think about what makes your company special in comparison to competitors. What do customers come back for time and time again? How can you tell if this is part of what creates your competitive advantage?"
While maintaining a competitive advantage can be challenging, it is vital to the long-term success of your business. Those looking for more tips are encouraged to check out the full article here.
About Abeir Haddad
Abeir is an entrepreneur and investor with over twenty years of experience in mergers and acquisitions. Currently operating out of West Vancouver, Canada, Abeir has the flexibility and resources to access strategic partnerships and has overseen large cap and micro cap negotiations, restructurings, and financings for reverse takeovers and initial public offerings. He works diligently to deliver optimal and lasting results for all stakeholders.
SOURCE: Abeir Haddad