10 Ways to Outrun the Competition
By Sandy Schroeder
In a fast-paced world, business competitors are constantly looking for new angles. If you are looking for the best ways to power ahead, these tips from Business Insider may be useful.
Keep an Eye on Competition
You may have the perfect product, but your competitor may find a way to quickly undermine it if you are not monitoring them. Start tracking what the competition is doing so you will know what you need to do better.
Look to the Future
You may have tracked all of your sales, but how much time do to you put into future projection? Look for new trends and potential market shifts and contrast them with what you are doing now.
Become Less Predictable
Take a look at your organizational patterns and find ways to restructure them. If your competitor can tell at a glance what you are doing, your company patterns are way too predictable.
Watch the Newcomers
It’s easy to dismiss smaller competitors, but that can be disastrous if they are using new technologies that may change the marketplace. Just ask newspapers how it worked out to ignore the online world.
Go Beyond Customer Advice
Customers always want things to be faster, cheaper and better, but they can’t tell you what breakthroughs are in the works with competitors. Be aware of what works for your customer, but then take that to the next level to see what will be delighting them in the future.
Skip Cost Cutting
When you tighten a budget you may reduce your ability to compete with your competitors in development and current market operations.
Follow the Research
Tomorrow’s products are being hatched in today’s labs. Keep your labs up and rolling and try out the results in test markets.
Stay in Tune with the World
Be open to everything that is going on to put your company and your products into perspective. Keep developing new test markets and lots of outside resources.
Go Head-to-Head with Competition
Spot your competitors’ weaknesses and use that knowledge to undermine their efforts. You will learn a lot in the process.
Enrich Inner Strengths
The companies that lead usually have a very strong core. As you observe the competition and reach out to the markets, be sure your company has key leadership to stay up with the market. The companies that I have watched grow the fastest and stay ahead have had an executive team with a strong spectrum of skills. Creativity, technology, communication and financial skills all have to show up and play together to make things happen.
To learn more about your health, wellness, and fitness, see your local chiropractor at The Joint Chiropractic in League City, Tex.