How Is The Best Way To Cope With Increasingly Competitive Business Competition?
We certainly see that business competition is getting tighter.
Almost all areas of companies already have a ‘player,’ so inevitably have to be ready to compete.
Are you willing to compete in business?
When you are ready, it is not a problem.
Another case if you are not ready, then you should read this article to the end.
In this article will be discussed about the three ways to deal with increasingly fierce business competition.
Please take a good look!
1. Do not back down let alone give up!
Competition in business is something absolute.
So, never once to retreat, let alone give up.
If you quit the competition, you might as well say ‘lost before the fight.’
You must be prepared in many ways, such as finances, abilities, mentality, mindset, and strategies in ‘the fight’ with your competitors.
You have to do the best you can, so you can win the competition.
Always remember, if a business has a competitor, it means the business has a ‘real market.’
Conversely, if a business does not have a competitor – meaning the business is ‘less real potency.’
2. Observe your competitors regularly
Always plug your eyes!
Keep track of your business competitors, see what they do, what innovations they make, what their product sells, what promos they run, and more.
If you are lazy to watch your competitors and ‘turn a blind eye’ to the progress they are doing, then get ready for your fate will be like Nokia – which must be eliminated from the competition.
Examples of companies that often observe the competitors are popular social media – Instagram.
Their rivals Snapchat – often bring new features and innovations to their users.
Instagram was finally ‘mimic’ one of Snapchat’s feature so that they can survive.
One of the Instagram features that ‘mimic’ from Snapchat is the feature ‘story‘ on their platform.
3. Make ‘something different’ between your business and your competitors’ business
In business, you do not have to ‘exactly’ with your competitors.
You have to do a little ‘modification’ to your business, to be different from your competitors’ business.
The existence of ‘something else’ in your business will create a ‘characteristic’ that will always be remembered by the buyer.
The more unique and innovative your business, the better!
For example, suppose you have a restaurant business with a grilled chicken menu, and you have some competitors.
To create ‘something different,’ you can add a unique restaurant interior concept – for example pirate style, or another theme (as your creations). Not quite up there, you can also add ‘something different’ to the variations of products sold, and on promotional strategies.
It all depends on your creativity!
In business, competition is something absolute.
So, do not ever afraid to compete with your business competitors, let alone give up immediately.
Remember, the more competitors in business; the business has a ‘profitable market.’
Stay consistent in what you do, because your consistency will lead you to survive until the ‘finish line.’
(Source: onlenpedia.com, edited by Ajie Fabregas)