Knowing how your livestock farm can stand out from the competition - and then developing your business strategy based on it - is perhaps the most important element of any successful strategic plan.
It makes sense to focus on the aspects where you have a competitive advantage - to do only those things that make you stand out from competing farms. Thus, you will compete under the conditions set by you, choosing your customers and treating your competitors from a position of superiority.
This competitive advantage can be a technical one, for example, expertise in livestock farming that others do not have. On the other hand, the competitive advantage can come from equipping your farm with state-of-the-art equipment or from modern animal husbandry technologies.
However, you cannot fully understand what the competitive advantage is if you do not make an analysis of your competitors. That is, if you want to focus on what you do better than your competitors, you need to know what they are doing good, what they are not doing good, and what advantage can you take from this.
Last but not least, you need to stay informed about the latest livestock news to gain competitive edge. Keep up with magazines and websites dedicated to livestock, technology and farm management news.
