Being in business for yourself can be the best thing you've ever achieved, but it can also be a ruthless prospect when dealing with the competition. How can you get ahead and stay ahead? If the other guys look like they're pulling it off effortlessly, it's just because they know things that you haven't learned yet. Here are six inside secrets your competitors hope you never figure out.
How They Save Money
If you think you've cut every possible corner to pinch pennies, your competition is still saving more. While service providers appear to offer good deals, it's the ones you might not know about that really help. For example, if you're still using basic services instead of cellular internet, then you're spending too much. This type of coverage can be tailored to your specific needs, in-house or anywhere in the world. When you become proactive about finding cost-effective products, those savings can be passed along to your customers.
That You've Researched Them
When you start a company, one of the very first things you do is to study your competitors to see what you can do better. They already know this and they're ready. They realize that when you're new, you need to learn as much as you can as quickly as possible. What you don't know is that by fixating on them, you're taking away valuable time that should be spent growing your own business. The last thing you want is to become a carbon copy of an already existent brand, so remember your own goals and focus on them instead.
They Want You Around
You were always taught that a little friendly rivalry is a good thing, but in business, the less the better, right? Wrong! Having competition creates a robust market, but your opponents would never tell you this. They know that your new customer base will spill over into theirs and that motivates them to work even harder. While you're busy getting your feet wet, your competitors will be there to collect the surplus.
How To Make More Money
A competing business can often mean price wars. When you're just starting out, you'll be tempted to lower your prices. Think of all the new clients you'll get! The thing is, the seasoned professionals are well-aware of this tactic and haven't lost any sleep. They're not going to lower their prices because they firmly believe in the quality of their products, and they know that the customer agrees. In the long run, it's going to be quality over quantity that keeps an enterprise strong.
What It Means To Zigzag
Remember back when you were kids running around on the playground and that one kid that always zigzagged was the hardest to catch? It's the same way in business. Your competitors know that you need to move quickly with trends, whichever direction they go, in order to keep ideas fresh and innovative. If you stay the easy course, you'll soon figure out that running your organization that way is boring and unsustainable. Instead, be the one that's hard to catch.
They Hope You'll Take Their Customers
Surely your rivals will do anything to make sure you don't snag their clients, or so you'd think. What they really hope you don't find out is that they're counting on you to take some of them away. If this sounds counterproductive, it's usually because they've got something better up their sleeves, like a new market or product. By letting you take over the niche they want to drop, you've helped them pave the way to better business.
How To Stay Focused
Making a success out of your new venture can be a challenge, especially if your competition has a good history. These trade secrets can work to your advantage too, as long as you have faith in your project and the commitment to see it through. Staying focused on your own mission is what will propel your business to the top.