Staying Ahead of the Competition: Ideas for Savvy Entrepreneurs

Medals

~ by Eileen O’Shanassy ~.

With technology upgrades and updates and companies coming out with something new every year, it’s important to stay ahead of your competitors, ensuring yourself a profitable business. One of the biggest reasons why businesses fail is because they refuse to use current technology and don’t take advantage of the benefits it can offer their business. Luckily, there are a few ways you can stay ahead and keep your business on top.

Research Trends

Do exactly what the competition is doing: research current trends in business. Popularity among both consumers and other businesses will help you work your way to the top if you’re not already there. Check out social media or use the Internet to find what will work for you. Make sure it’s a program that will be compatible with what your customers already use.

Be Innovative

No matter the size of your business, it’s important to brainstorm new ideas. These discussions can have you leading the trend, receiving constructive feedback on what to fix, and how to make things more efficient. The best people to listen to are the people who will be buying your product, and your employees. They know how the business works at the most basic levels, and will have some good ideas on how to improve.

Watch Your Habits

It may sound different, but use your security system much like your home security system. Any system that you have for security at your business will likely have a few cameras, which is useful on multiple levels. You can also use your security system to do a quick research of your facility. As well as keeping your place of business safe, it also is good to watch yourself work, or see how the employees work from time to time. Identify the least productive hours, how quickly customers are getting helped, and what habits slow you down. It’ll help you know where you need to go by seeing where you’ve been and where you are.

Audit the Competition

Find out what the competition is doing by checking up on them periodically. When you do, it’s best to devote full attention to it and look at all aspects of their business. Complete a thorough analysis of their web page, what they offer, social media profiles, and any other sites they might use. Even looking at their advertising is a great way to get an idea of where they stand, and where you want to be. 

These are some of the most basic ways to get ahead and stay ahead when it comes to your business. There are few things that will always be important to business regardless of what the industry is, including the consumer, new technology, fixing shortcomings, and watching the competition. Once you get those things done, then is a good time to stay innovative, explore a new market, and expand.


Meet the Author: Eileen O’Shanassy

Eileen O’Shanassy is a freelance writer and blogger based out of Flagstaff, AZ. She writes on a variety of topics and loves to research and write. She enjoys baking, biking and kayaking. Check her out on Twitter @eileenoshanassy.

Categories

All Categories

Business Operations

Entrepreneur Interviews

Marketing, Networking, & Social Media

Self Care & Personal Development

Working Moms

Business Software and Technology

Entrepreneurship & Small Business

Organizing Tips

Sales

Career Building

Family Businesses

Inspiration

Starting Your Own Business

Work-Life Balance

Communication

Hiring Help

Management & Leadership

Time Management & Priorities

Women in Leadership

Recent Posts

Business Blogging 101: How to Create and Sustain a Successful Blog

Business Blogging 101: How to Create and Sustain a Successful Blog

For businesses, business blogging is becoming a powerful tool to not only attract and engage new customers but also to build brand authority and ultimately grow your brand.
This comprehensive guide will equip you with the essential knowledge and strategies you need to start and succeed in the dynamic world of business blogging.

How to Protect Your Merchandise From Theft

How to Protect Your Merchandise From Theft

Protecting your merchandise from theft is a critical aspect of running a successful business. In a world where security threats are ever-present, safeguarding your inventory is essential. Not only does it protect your bottom line, but it also ensures the safety of...

Experts You Need to Have at Your Business

Experts You Need to Have at Your Business

In the dynamic world of business, having the right team of experts is not just beneficial; it is essential for success and growth. For female leaders who are carving out their paths in business, marketing, or HR, knowing which experts to have on board can make a...

7 Tips for Asserting Yourself as a Woman in a Medical Workplace

7 Tips for Asserting Yourself as a Woman in a Medical Workplace

As a woman in a medical workplace, you have a lot of responsibility, not just to yourself but to other women who will come along after you. Asserting yourself in your workplace and gaining the respect of other employees and leadership is essential to a successful career. You have worked hard to get where you are, you don’t want to lose momentum.

Continue to grow with online leadership training and more. Follow these tips to assert yourself in the medical workplace.