How to compete in business favorably

[btaliat]

Competition is normal in business. A business without any competitor may hinder the owner from being innovative and hereby limiting the potential of the business owners.

There are many ways business owners can however compete favorably. His ability to win all these competitions will determine how far he would go in business. Below are techniques to be used to win competition.

Know your strength: Most people always try to improve their weakness and focus less on their strength. This is not workable in businesses. You need to focus more on what you know how to deliver well. You need to utilize all the areas you are better of against your competitors.

Attack your competitors weakness : try to be observant in order to know your competitors weakness. Interview and interact with him, you can even make him your best friends to study his weaknesses, then when he relaxes, attack him.

 

[Jasmine]

You cannot take the same product that a lot of business are selling and compete with the big enterprise. You need to create unique product and become the leader in the market. If you are trying to sell the same product, you need to make it better and sell for a lower price.

 

[Mika]

Big fishes will eat small fishes. If you are a big fish, form a consortium with other big fishes and start eating small fishes, if you are a small fish form a consortium with small fishes and start tracking the big fish through all sides. Business is fish eats fish, you need to understand this.