What is a competitive advantage? Most people would answer, "Hard work," "Good customer service," or "Staying open late." That's a start. But to truly have an advantage over a competitor is to have something they don't have. It's like building an obstacle course around your business that a competitor would have a really tough time getting through. Maybe you have a secret recipe, a unique piece of machinery, or an original product, invention, or patent. Maybe your shop is in the perfect location. It might be as simple as having a loyal following of customers and a brand they can trust. Let's go back to Mark and Rich and see if they can determine Mark's competitive advantages. So you've had a few more days to think about your business idea. Oh, yeah. You went through a lot of paper. Oh, yeah. So let's review some of them. Baseball theme park. No way. That costs millions. OK. Podcast, app, documentary--any of those feel like they're achievable? Well, I think they're achievable. I just don't know how I'd make any money off of any of them. But what, you're stuck? Well, I was. But then I took a look at the list of skills and passions that we put together. All right. Well, let's revisit some of those and look at them a little bit differently. OK. Which one is a competitive advantage? I'm not sure I know what you mean by that. What do you have that nobody else has? Oh. Well, 22 years of experience at the stadium. OK. I know it inside and out--I mean every single corner, every seat, every locker. It all has its own unique story. I mean players, superstitions, funny pranks--you know, all the good stuff. And I have a good relationship with the staff there and the owners, which means that I can still collect even more of those stories. I've even written some of them down, you know, like stories about old players and new players, bat boys, and oh yeah, the one about Roger, the infamous-- OK. --autograph hound. It sounds like you have a passion for collecting the kind of behind-the-scenes stories that everyone loves. And you've collected and documented more than anybody else in the organization. Well, yeah. I mean, it's the stuff that the fans love and they just don't have access to. And you know how to tell a good story. OK. So you think those are competitive advantages? Well, sure. How much would a fan pay to hear the kind of stories you've collected? You mean on a tour in the stadium? Oh, a lot. I mean, nobody has the access that I have. Nobody can tell the stories that I tell. I mean, you go on a tour today, and they want to tell you how far it is to center field. You know, they want to tell you how many people will fit in the stadium, or where do the sports writers sit. That's boring. I could do much more than that. All right. Then you have a business idea you're passionate about, and you have the right skill set. You have something the fans want, and you definitely have a competitive advantage. In fact, I'd say you have a number of them: stadium access, contacts in the stadium, and 22 years of stories. Yeah. Good point. [MUSIC PLAYING]