What's the number-one attribute Warren Buffet, arguably one of the most successful investors in the world, looks for in a company? "Sustainable competitive advantage," he told an interviewer. If one of the most successful businessmen of today puts this at the top of his list, you should too.

Not only is competitive advantage, as a term, widely overused, it is also widely misunderstood. You are not alone if you have ever wondered what a competitive advantage really is, and what you do with it. So what is it exactly? And if Buffet examined your company, would he find what he's looking for? Let's find out.

The 30-Second Competitive Advantage Challenge

Here's the 30-second challenge to determine if you know your competitive advantage. Ready? Go. I meet you at one of the numerous local networking events and you introduce yourself, "Hi, I'm Bob Jones with ABC Company." "Hi Bob. Nice to meet you. Tell me a little about your company. What is your company best at?"

Members-Only Premium Content   

• Free Webinars: Access all recorded webinars (full members attend all live webinars free).
• Free Tools and Guides: Receive all how-to guides and tools sold in the RainToday Store free.
• Research and Reports: Receive 20% off all research and benchmark reports.
• 1,000+ Articles: Access over 1,000 professional services marketing, sales, and leadership articles.
• Exclusive Premium Content: Access members-only interviews, templates, and case studies.