In my previous post I discussed how an entrepreneur can handle the issue of competition. You can read How You Be Ahead Of Your Business Competitors.
Shedding more on the issue of competition, i wrote this post. Many entrepreneurs who are new in the market fold up because they cannot handle competition or should i say they don't know how to go about it. Putting the experience i have running and handling my own business, am here to bring more insights on how you too can handle and beat competition in your businesses.
Competitive advantages should be developed from the following factors;
- Quality
To be ahead of your competitors as an entrepreneurs, you should provide a product or services with a higher quality than the competitive business.
- Price
Offering prices that is slightly lower than your competitors will attract customers to your business.
- Location
Find a more convenient position that will enable customers locate you more easily.
- Selection
Diversify your products by producing a wide range of choices than your competitors.
- Services
Entrepreneur's should provide a better personalised customer service than their competitors.
- Speed/turnaround
Endeavor to deliver your products/services to your target customers more quickly than your competitors.
Competition being among the top killers of business. Handling it well helps increase business growth and success. Applying the above listed clues will undoubtedly turn your business around and yield more success.
Please to motivate us, kindly leave a comment after reading and share this post.
Have a great day!
Have a great day!
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