5 Ways to Beat Business Competitors

[Suba]

Competition will always occur in every sphere of our lives, as well as in the business world, competition is a natural and normal thing as long as competition is healthy and not carried out fraudulently. So to be able to beat business competitors is to think healthily and create smart strategies so that consumers can switch to our products. Here are ways/strategies to beat business competitors:

1. Manage Business Finance
Manage business finances properly so that expenses are not greater than income. Allocate funds to more precise targets so that the products or services we offer are more attractive to consumers. We can use the allocation of funds for marketing costs so that sales will increase.

2. Highlight the advantages of the Product
Even though the price of our products is more expensive, we must inform consumers that our products are durable, guaranteed. buying cheap and not quality products is a waste. Besides that, we must improve services so that customers do not switch to competitors. So in fair business competition, business people must be able to find valuable values or product advantages.

3. Understand the situation and conditions of competition
Where can we understand and understand competition? Businessmen can start by examining the market especially by paying close attention to everything competitors do, whether they are close to customers, whether their ways are creative and in promoting products. This observation does not mean we have to imitate what competitors are doing. Business people can create different ways and have their own uniqueness.

4. Get Fresh Ideas
Fresh ideas can come from anyone, be it employees or friends, so that we can provide more than what competitors offer, for example promo prices on holidays. or business people can provide more services to service businesses, such as beauty salons, barbers, etc. The grocery store business can provide various and complete goods at competitive prices.

5, After Sales Service
After-sales service is very important to implement so that customers don't give up, or leave your product. If a customer buys your product, even if it's only 1 can, but the contents have been contaminated by temperature or the sun, so it changes color and smells, immediately replace a new product with a larger quantity, for example 10 cans.

 

[moonchild]

Beating your competition in business can be done by being authentic, I read an interesting book by Naval Ravikant, and one of the biggest take away for me is how to beat competition, he said to be able to beat competition you have to be authentic, no one can beat authenticity, for example let's look at Joe Rogan Podcast Show, no one can compete with him because he is authentic, you can copy his vice, his setup and invite the same guests but still you won't be able to compete with him.

You can make your business like that, create a culture that is hard to copy through authenticity, a company that has successfully did that is Apple, their products are very different from what we have in the market today, but if you look at the Android market, they are basically the same thing and that's why they compete on price only because authenticity is absent.

 

[Shaf]

I used to think this should be easy to apply, but it can be a lot of work if you want to legitimately beat your competition. Sometimes, it is also the competition that is out to beat you and you have to find ways to counter them.
While some of them would do it legitimately,don't be surprised that a few would use underhanded measures, even if it will eventually hurt them.

This is the case with my new employers business and it's not easy. One of the time trusted ways of beating competition is by lowering prices and this works well for us. If I had a business, I wouldn't worry so much about profits if I can break even.

It also helps if you provide excellent customer service. Most businesses over time become lax with this, but customers will always want to be given the best. It's the secret of those who produce luxury items.