SMALL BUSINESS SURVIVAL STRATEGIES

 "Always, more differentiation is better for revenue, but more differentiation increases your costs," Dr. Ray says.  Any company that wants to succeed in today's tough economic environment will have to do more than raise the bar, however. Entrepreneurs must strongly demonstrate their uniqueness and prowess in both product and service.

Introducing competition-beating variations into a business can provide a much needed lift, but it is not without risks, says Saibal Ray, co-director of the master in manufacturing management program at Montreal's McGill University. As an example, he cites the McDonald's fast food chain.

The Globe and Mail, February 18, 2009