Business is always changing to meet higher demands, and this makes it absolutely essential that you stay ahead of your fellow competitors. Realizing that is the easy bit, the hard part is being able to pull it off properly. But don’t worry, here’s some help.
Watch over your competitors
Of course, don’t make it obvious what you’re doing, but when the opportunity arises, take advantage of it and watch what your competitor does. It’s important to know that this isn’t to steal ideas from them – it’s to be better than them well ahead of the game. Use your time to analyze the competition rather than planning your next move, because that may be irrelevant in the end anyway depending on your competitors. If you need motivation, think about them stealing all of your business – that should kick-start you into action. If you’re worried about not having enough spare time to focus on this, hire someone specifically for the job.
Pay attention to upstart rivals
Never underestimate a rival business, even if they’re way behind you, (as mentioned before,) you can never know when the business is going to change – one day you’re at the top, the next day nobody can remember your name. A good way of keeping watch is through social media. You can track how much attention they are getting from an audience by the number of likes, comments, shares and followers they have. If you’re a new upcoming business, then this will apply to you too. You may be the underdog for now, but do things right and you may create a good enough buzz to shoot to the top.
You’re being watched too, so to avoid hurting yourself and giving away any of your secrets – be unpredictable and leave everyone second guessing. If you’re coming up with a new project or system that could greatly improve your business – keep it to yourself until it’s done and ready. For example, you may have a competitor that has started promoting their new speedy delivery system. You can go one step further by contacting companies such as Flex Fleet Rentals who allow you to rent top quality trucks to arrive to and from a job in style. Ensuring you not only get deliveries and services there on time, but you add that personal touch that customers love.
Don’t listen to the customer
Not yet anyway. Of course, you must listen to what the customer wants otherwise you’ll never have a happy one – but the trick is not to do this immediately. If you’re just starting out with your business, don’t ask for feedback – it’s far too early, and you haven’t finished creating your product or service yet so you’re bound to get opinions that aren’t very positive. A lot of people end up taking these on board and either tapping out of the game, or changing something that they really believe in, only to find it’s unsuccessful. – Do what you think is right. Sure, get advice, but from the professionals that know all about what you’re trying to achieve. Then once you’re happy with the final image, trial it and then ask for opinions.