THE LAW OF COMPETITION
If the first law of business is completion. Competition is something that cannot be abated in business. It make you to think and engages you to set high standard against your competitor if you discipline yourself.
To understand your competitors you have to develop the self-discipline to unravel exactly what your competitors are offering.
You could say that what you are about to offer is unique and has no direct competitors. Well don’t forget that some villains are lurking in the dark to see what you have to offer and if it makes sense, they high jack it and then your naked eye which was not clothed before will be opened to know that the bad boy are really after you. Even if you are offering a new type of food that is sourced from the greatest plant, probably from Mars. You just need to work out what other business are the most likely rivals for your potential customers in terms of time, attention, and (most important of all) money.
For you, you need to become the NO.1 business spy. How? That simple, become your competitor’s partners or pay a sensational visit and feel the atmosphere and total experience that they offer. You become their customers and then check out what they don’t like about their product and services and also what your fellow customers don’t like about them. REMEMBER YOUR ARE ACTING AS A SECRET AGENT FROM BIZTALKSBLOGS, do not blow the cover. Get sales people to run their sales pitches past you or make a purchase complain and feel the quality of the furnishing in their showrooms, if they got music listen to it and know if you like it.
Spy also on their customer, pretend to act as if you don’t like what they have to offer and then listen to what they have to say. Watch the sales staff. Note what makes the customer buy, what they buy, how much they spend, how they react to the whole experience.
Now the conclusion of the matter, what does your competitor do well or badly? If something work well think of how you can replicate it or add your own twist to it. If something works badly think of how you can make it better. Also check their website, sign up and see what the got in their new letter of its design. MAKE SURE YOU DOCUMENT YOUR FINDINGS.
You could send me your BTB mission file if you succeed. Do your sensational spy subtly. If you got problem tell me.
Posted on June 25, 2013, in Business, Business ideas, Business owners, Entrepreneur, Entrepreneurship and tagged Business, Business Services, Competition, Customer, Customer Management, Customer service, Small Business, Start Up. Bookmark the permalink. 2 Comments.