Ignore your competitors at your peril
Let Your Competitors Make You Better
Never take your eyes off the competition
If you’re in business, your primary focus should be on your own business, but you must always keep track of your competitors. Pay attention to where they are, what they’re offering, and how they’re marketing.
- Study their ads.
- Periodically visit their websites.
- Follow their social media accounts.
- Subscribe to their newsletters.
- Read what’s written about them in trade publications and other media.
- “Secret shop” them to find out how they sell.
When it comes to your competitors, you must figuratively sleep with one eye open. Do your best to stay ahead of them, to change your strategy and prevent them from copying you, to stretch and reach so they can’t catch you.
Do your best to win every round, but know that you won’t always. Sometimes you’ll just have to clean up the mess after the fact and move on.
Just like you can take market share away from someone else, someone can do it to you. Be vigilant. Know who your competitors are–both old and new players in your market.
Remember that the closer you are to the top, the further you have to fall–and the bigger the crash you’ll make if you hit the bottom.
If you’re successful, you’re going to have competition.
If you’re making money, somebody else is going to want a piece of your action.
Be prepared for it.
Let your competitors push you to be the best you can be.
A version of this article was originally published on my site at CreateTeachInspire.com. You can reach me there or email me at [email protected].
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