Augusta
VIP Contributor
In the business terrain competition abounds and you can be ahead of them or them ahead of you. But you need to continuously keep your eyes on how the operate their business so that you have an edge over them and gain more customers.
The fact remains that healthy competition increases , and encourages productivity. it will motivate you to develop your product or service as much as possible.
So how can you keep an eye on your competitors to stabilize your business
Make competitor analysis
You need to continually make analysis if your competitors at different steps of your business. You should be sure you are at par with their actions
Find out their strength and weak points : Another thing is to find out the competition strength to learn from and the weak point to capitalise on.
compare and develop a better strategy.
You need to look at what they are doing and what you are doing and compare to either continue as ith yours or adopt theirs. But don't forget to be creative about it. You don't have to be total copy cat.
The fact remains that healthy competition increases , and encourages productivity. it will motivate you to develop your product or service as much as possible.
So how can you keep an eye on your competitors to stabilize your business
Make competitor analysis
You need to continually make analysis if your competitors at different steps of your business. You should be sure you are at par with their actions
Find out their strength and weak points : Another thing is to find out the competition strength to learn from and the weak point to capitalise on.
compare and develop a better strategy.
You need to look at what they are doing and what you are doing and compare to either continue as ith yours or adopt theirs. But don't forget to be creative about it. You don't have to be total copy cat.
