There’s a saying that “…the only thing constant in life is change.” As such, in a bid to compete favorably in business, you must be ready to make both short and long term positive changes.
Study your competitors and the big players in your specific industry. Find out what it is that they are doing to keep to maintain and increase their market share…and find out how you can implement their strategies within the limits of your resources and environment.
You must whack yourself before you get whacked. Yes, be willing to whack yourself hard in the face (if need be) before your competitor does it!
Find out from your clients what changes they would like to see implemented in your product or service. Your customers are the ones in the best position to determine the level of changes required.
Have in mind that it cost more to get a new client than to retain an existing client. Every client that you loose (as a result of not meeting their needs) not only translates to a loss of income, but also means an increase in the client base of your competitor!
So whack yourself before you get whacked by your competitor.
Tags: business, small business, stay ahead of your competition, unique selling point, usp