It is important to know and understand your competition. Many industries and markets may be flooded with competitors. With that said, I believe when starting a business we need to first understand our business and our business strengths.
We also need a very good understanding of our weaknesses and opportunity areas. What I am saying is that our initial focus should be on what we can control. We can work on building our brand and our business strategy and goals.
Here are a few things you can do to be more successful and competitive in the marketplace with your business:
- Define what success will be in your business a year from now and five years from now.
- Develop a strategy for your business that includes short-term and long-term goals.
- Build plans for the key areas within your business (Marketing Plan, Sales Plan, Operations Plan, People Management Process Plan).
- Take responsibility for leading your company. It’s called leadership. Get help to develop better leadership skills if you need it.
- Provide great products and services. Differentiate your business from the competition.
- Educate your organization first, then your potential clients on your products and services.
- Talk about how good you are, not how bad your competitors are. People want to know what’s good about your products and services.
- Built relationships and solve problems. People will love your company if you can do this.
- Stay positive and focus on your goals.
- Don’t give up, follow up and follow through on what you need to do. Some of us give up too soon or simply will not take the necessary step(s) to make the changes that will propel their business and their lives forward. Be bold. Step up. Step forward and do it.
Most of us have plenty to do in our own back yard before considering our competition. Truth be told, if we can accomplish the items previously listed, I believe our competition will be minimized.