How to cope with business competition
In the area of business competition, there’s one thing I’ve learnt over the 32 years I’ve been at the coalface of advising SMEs and that is, no matter how many other competitors there are in your line of business, you can still be successful if you get your core business activities working the right way.
The best example for that locally are cafés, which are springing up all over the place. Some are busy all the time, some are deserted. Yes, location and being on the sunny side of the street are both important, but there’s a lot more to it than that, especially when the deserted ones are in good locations!
So does that mean that you can ignore the competition and carry on? A lucky, super-successful few can — maybe — but not the majority of us. Not only can we learn many things from our competitors, but in addition, nothing stays the same in business for very long so it’s vital to know what’s happening out there. Read some great tips here for coping with the competition.