Competitor Analysis

Keep your friends close and your enemies closer. It's an age-old saying that people often use in terms of your competitors. However, I am going to turn it on its head because your competitors can bring you business, what's more, it's free!

If you have a competition it means that there is business out there for you. If there is no competition it either means you are a genius and you have come up with the next brilliant product or service, or an idea that no one wants to touch for various reasons.

Let's say you have an idea and there are businesses out there that are already trading very well. Brilliant, so how are you going to be different or better? It's no use just copying someone else model based on what you think they are doing. You have to understand your competition, get to know them, and know their product. What do they do well, what could they be better at and how will you capitalise on that?

There are ways and means to find out this information, all of it very easy and at no cost, I can give you an insight into this. How busy are they? What do their staff think of them? What do their customers think of them? and the list goes on

An example:

A customer contacts you for a service that you don't do, but you know a company that does. Do you A) "say sorry we can't help" or B) "I'm really sorry we can't help but I do know of a company that can." Hopefully, you have already taken the customer's details. Phone the company and give them the lead. I have done this many times and have reaped the benefits, both from the customer and the competitor.

Don't be afraid of your competition, embrace them. I can help you grow your business by getting you to understand your business environment and capitalise on it