How Competition Can Ruin Your Business

[Shaf]

While competition in business has multiple advantages, both to business owners and also to the consumers, it also has its disadvantages.
Any niche that's monopolized remains stagnant in terms of development and consumers have to take whatever they are given.

The are legit ways to beat the competition and become the best in any niche, but sometimes, competition becomes the reason your business dies.

One way this can happen is if the competition use unhealthy tactics to beat down your business. I've seen quite a few who give negative reviews about the competition even when it's false. Some will go to great lengths to sabotage your supply of goods, lower their prices even if they will run at a loss so more people can patronize them.

You are also at a disadvantage if the competition have more experience and capital than you do and they don't allow you grow.

It's also important that you provide the best quality, even of it means getting more money. This is especially important in the first few months of running any business.a

 

[TOZZIBLINKZ]

Competition can totally reduce the enthusiasm of an initially established business in a particular area it can also reduce the ability of such business who was initially established to grow and to develop as expected and as planned. Majority of business organisations mostly small-scale businesses have not been able to stay the same ever since a large-scale business who perform similar activities to this small-scale business have been established in the same location as them. On the other hand some major businesses have been able to survive by involving other ways of products and services in marketing.

However, to increase your chances of not being affected by the threat of your competitors you can start by establishing other ways to market your business products instead of only depending on the physical selling and rendering of your business products to customers and clients which is somehow ineffective now that competitors are available within the business environments. You can also involve other physical ways of boosting business productivity by branding all by packaging your business products.

 

[CALVINDOL]

It is very true that haven't competitors in business can totally hinder your expected decision for your business to grow and develop. But I do not think that as long as a business owner manages his or her business in the right and expected way, his or her business can be affected by competitors and that is because competitors are also businesses like us and for you to bypass them you need to be smart. Being smart does not involve selling and rendering your business goods and services to customers and clients physically as that can be obstructed now that competitors are in the business environment. Being smart involves formulating other ways to sell and to render your business goods and services to customers and clients through other mediums.

So many mediums exist in which you can market and sell your business goods and services to customers and clients some of which include social media marketing, email marketing, digital marketing, online marketing, internet marketing, and also transitional methods of marketing.

 

[eldavis]

Truth be told i believe it is impossible to actually run a business without any from of competition. It could be that you are actually the very first to start that very business in your location, once people see you are successful, they would definitely want to give it a try, hence begins the competition. There would definitely be persons who would make use of immoral or unhealthy methods just to be able to beat you, but always try you best to stand your grand and defend your business the right way, without going down to their level.