Get to Know your Competitor
Business Development
Competition is tough - and to beat your competitor you need to know them very well. It’s not good enough to think you need to know their strengths and weaknesses and put plans in place to address them in a systematic way.
Most business owners do this to some extent and then go boldly ahead without sharing their insights into the Customer with the business. A good strategy to address your competitor’s strengths and weaknesses is to identify your best competitor and discuss them directly with your staff.
Let them know what you see and their strengths and weaknesses and ask your staff what else they see. Enlist your staff as a source of ‘market intelligence’ on your competition and get them involved in working out how you can be the best at what you do.
(© Profit Advantage #37938)
