Aim for Sustainable Competitive Advantage
"A common approach used by investors to identify potentially successful businesses and to minimize risk is to judge a business on its ability to achieve and perpetuate a sustainable competitive advantage. Some of the characteristics that can provide such an advantage include:
+Unique technology or processes (yielding products or services that can be shown will be in high demand by the marketplace).
+Intellectual property protection (patents, trademarks and copyrights that can be realistically defended).
+Human-resource factors (expertise and track record in a proven management team).
+Strategic alliances with key market players (unique partnerships, joint ventures and/or exclusive licenses that are equally beneficial for all parties).
+Location (ownership or favorable long-term lease of property with unique market attributes).
+Marketing/distribution (unique branding and/or distribution rights that will lead to a sustainable and powerful image)."
From an article in the OrlandoSentinel.
