Five Big Ideas to Gain an Unfair Competitive Advantage in 2020

’Tis the season to plan for the upcoming year, which (for the most forward-looking firms) means identifying how to make 2020 better in every way than 2019. By now you’ve heard, ad nauseam, a lot of practical advice that everybody knows: create workflow systems to improve efficiency, invest generously in training your staff, empower the future leaders of your firm with increasing decision-making authority and diversify your stable of employees.

I heartily endorse all those things, but you know them already. Are there specific, out-of-the-box strategic initiatives that you could be doing in the coming year that will enhance your business prospects?

Let’s look here for a handful of unfair advantages to gain over the competition in 2020. These are things that are not hard to implement, which will help you become more efficient, gain new clients or stand out from your peers.

Last year, I offered five challenges that the profession will face and how to overcome them. Some of them are still relevant, while others are replaced here with new issues and proposed strategies. Here’s the updated list:

Form CRS: Standing out in the marketplace