Entrepreneurship

3 Ways To Beat the Competition

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Here are three simple action steps to help you beat the competition and stay ahead of the game:
Understand the Competition                                                                                                           Know your competitors: identify and understand them. Sun Tzu in “The Art of War” gave this strategy as one of the first to put in place if you will win the war. Know who you are competing against in and out; their organizational structure, game plan, and what they are capable of (strengths and weaknesses). If you know your enemy, you are in a better place to prepare against them.
Inspiration: Think Outside the Box                                                                                                   I’ve seen too many businesses doing exactly what their competitors do; they probably assumed that if the competition has a product or service that consumers like, it only makes sense for them to offer same. And the result? They are always behind or at par with the competition.                                                                                                                                             To be ahead, think ahead. Be the first to introduce a new product or service and let others run to catch up. To do this, you need a great team of creative people and an environment that encourages ingenuity. If you are always first with new, original ideas, people (the consumers) will come to know you as the industry leader.
Don’t Stop Talking                                                                                                                         Really? Well, to put it in another light: continue to shed your skin. Evolve. Continually. Don’t let your bright new product be a singular breakthrough for your company, at least not for long. Constantly come up with new ideas. Let creativity become your business lifestyle. Like Apple and Steve Jobs. Be stable (to your customers) but unpredictable (to the competition). As long as the grass is green, the sheep will always seek pasture in your field.   But really, don’t stop talking. Let the world know what you’re doing. In today’s world, if you don’t shout and claim what you do, somebody else will steal your show and your shine – and your customers and profit as well. So, blow your trumpet when need be.

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