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In the digital world , competitive differentiation and advantage can be a combination of a number of factors such as a low cost business model , the brand itself , unique technology , supply chain , rate of innovation – the list goes on . It is essential that entrepreneurs are honest and self-critical in order to ensure that the advantage is real and applicable to the marketplace in which they compete . A good test of this is the best-in-breed benchmark as defined by Andy Street , MD of the John Lewis Partnership , when he said : “ focus on beating the best , even if they are not your most direct competitors , because it makes you stronger .” This will require experimentation which will inevitably mean a few failures along the way , but tolerance and a learning culture have long proven capable of turning ‘ failure ’ into sustainable success .

22 March 2016