Beat the COMPETITION –

        Hard-nosed competition is the best assurance of a healthy business. Appreciate them, they are your stimulus for change.

        Aim to exceed your rivals in all facets of activity such as quality, price, speed, and servicing.

        Competition is a good thing it will force you to do your best.

A handful of tips to beat the competition

* Research your rivals and your customers

        Examine offers made by your rivals and try to beat them with better offers.

        Price your goods at competitive rates.

        Find out the needs of your customers and see if it is possible to help solve some of their problems for them.

        Concentrate Your strengths against your competitors weaknesses.

* Consult your clients

        Get your customers to tell you how your business can do better to help them in their business.

* Build strong teams

        Get your people involved and focused.

        Invest in training. Carry out planning and development workshops with your people – get them involved.

* Set up strong alliances

        Consider out-sourcing selected non-key activities to other organisations, such as distribution.

        If you have the resources you might consider the possibility of making takeover bids for rival  organisations.

* Lower prices, but not the quality

        Look for cheaper sources for your basic materials.

        Invest in new faster production machines.         Work your machines for longer hours. In the Singapore-off-shore industrial estates work their machines 24 hours a day, 365 days a year.

        Appreciate your rivals – they are your stimulus for change. hard-nosed competition is the best assurance of a healthy business.

-Geoffrey Moss (mossassociates.co.nz)

“Continued innovation is the best way to beat your competition.”

        For those in need download our FREE book “NO JOB! WHAT NOW? available from our website.

Source: Time-Savers, Moss Associates.Ltd  New Zealand; McGraw-Hill, Australia & Times Business Books,  a Federal Publication, Singapore and Time Management Secrets, Thomson.