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Small Business Tips to Stay Competitive

by Guest Author 21 February 2018 15:07

Being a business owner means competition is part of the business. Competition is what drives a motivated small business owner to push ahead and succeed. Without it, there's a chance we could get lax – although the money flowing in is a pretty big motivator too. So, what can you do when the competition is fierce. Maybe your biggest competitor has moved in a few blocks away or worse yet, across the street. Even with powerful competition nearby, you can still claim a portion of the consumers for your own. Here are some tips to keep you in the running:

Just beat them at one thing

It's easy to think you have to outdo your competition on every front (especially when they are within close proximity). However, if you can find one or two areas where you excel them, then you have your own niche. You will have your own set of loyal customers that come to you for those particular reasons. Find your sweet spot and highlight it.

Work around their time

Another option to drive business to your location is to work around your competitor's schedule. This may not be an option if your service or product depends on being available at certain times. However, you could extend your hours after they close or open early to catch those who are early risers.

If you can't beat 'em, join 'em

This is an old expression but it just may work in some cases. You could join together for a community event or other activities that pair the two companies together. Over time, you both may realize that each of you has particular strengths to offer the customer, thus it will come naturally to turn to your competitor and them to you when in need. In other words, you can benefit each other if you each have something unique to offer.

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