Top Ten Ways to Gain a Winning Competitive Edge – In Any Economy
Written By: Jeannette Kraar
Phone: 305-856-9993
Email: pmi@manageyoursuccess.com
In our fast paced global economy, companies have to stay current and savvy to be a competitive player in their market and their industry. The companies who understand this remain open to change and plan for it by taking a proactive approach. They build in succession plans, growth projections and support processes.
Company’s who resist, still go through change — but these organizations are forced into a reactive mode that is usually far less effective or successful. Entrepreneurs who choose to manage their businesses in the same old ways often find themselves in the precarious position of being stagnant and ineffective — ending up obsolete and unable to successfully compete.
Here’s the good news: Understand a few simple guidelines and add them to your strategy to build your competitive edge and keep your business thriving – Consider these new conditions of “business as usual”:
- Stay informed – follow current market trends and industry dynamics. Identify and study your toughest competition.
- Understand the needs of your customers and the markets you serve through research conducted on-line and on off. Then follow through to meet, or better yet, exceed expectations.
- Be a creative, pro-active solution provider. Understand changing concerns, market conditions and industry trends so you can anticipate needs. Ask yourself, how can we do this better? What would add more value to our product or service? What is the biggest, most common objection or problem our clients face? What changes are affecting the market right now and what is projected over the next six months? How can I improve the “drivers” that affect my bottom line – quality, quality, revenue generation or profitability?
- Think in specifics to communicate with your clients with clarity.
- Get connected and stay connected. As a business owner build strong, long-term relationships and grow your business with referrals using effective advertising, marketing and appreciation programs. Customers buy from and refer to businesses they “know, like and trust.” This type of relationship building happens over time and through numerous contacts. What do you do to stay connected?
- Build strategic partnerships and collaborations to expand potential business, market penetration, referral networks and learning opportunities.
- Make energy, enthusiasm and results the mainstay tools in your skill set.
- Continuously work to improve your oral and written communication skills.
- Take responsibility for positioning your business so you can take advantage of future opportunities within a three to five year window. It’s critical to step back from tactical implementation and invest time in strategic planning.
- Evaluate and adjust on a consistent basis. Make this part of your regular professional and business development practices.
Get more competitive now with our FREE Gap Analysis. Download it here: 
Entrepreneurial Gap Analysis
IF YOU WOULD LIKE TO SUBMIT YOUR ARTICLE TO OUR EZINE, PLEASE EMAIL PR@NAWBOMIAMI.ORG
Filed under: Management | Tagged: Management, marketing
