A Handful of Tips 14 – Competition
Five of the best tips to help you beat the competition
Learn as much as you can about organisations competing with you to supply services or products. Aim to exceed them in all facets of activity such as quality of products, price, speed of delivery and after-sale services.
1. Constantly research the markets and the competition
What are the opportunities and the threats?
What are the strengths and the weaknesses of the competition?
Concentrate your strengths against your competitor’s weaknesses.
2. React swiftly to any desirable changes
Be prepared to invest in new equipment, new technologies and additional staff.
3. Build effective teams and build strong alliances with suppliers and distributors
Bring teams together to focus on single targets.
4. Aim to continually improve customer services
Get your staff multi-skilled and trained to give customers a better service.
Encourage clients and staff to give honest feedback and make recommendations.
5. Get the best financial advice you can afford
Price goods and services at competitive rates.
If possible pay staff by results. (Pay by the job not the hours worked.)
” Appreciate your competitors – they are your stimulus for change.”