Competition in business

[Mandy96]

In choosing a business, one has to be ready for the competition because every business is competitive although it is more greater than each other. You can think of the perfect one but also be ready for the necessary required strategy if not the entrepreneur might end up regretting. For example, you want to venture into selling uncooked foods because you think it is very lucrative. You have to be prepared for the bad side because definitely you are not the only one into it, as a matter of fact, some people have been doing it before you even think of starting it so you have to be very thoughtful of how you will be successful and the way is the uniqueness you add to it.

 

[Alexandoy]

I agree that a new business should be armed with weapons against the competition. However, my take on a start up is to concentrate on the operation to make it smooth with the methods and the system. The competition comes later because a new business can have customers if the promotion is right.

 

[Tuitiun]

I think the key is not overthinking it - businesses evolve over time

 

[Topstik]

There is a risk in each and every business and also having competition in all business, Do be prepare for these 2 factors then only you can exist in the market.

 

[Chibson]

Competition cannot be taken away from business and anyone that wants to venture into any business must be ready for the competition. One of the best ways of becoming very competitive is to focus on offering quality services to your customers and in that case there will be a trust. Another thing is to have a very good marketing team.