Should you be worried about your competition? 'That depends'
is the Consultant's answer. If your business is not strong and you can admit
that you cannot keep up in terms of quality, price and service then, well, yes
you should and frankly it is only a matter of time...
If you are confident in all these things then you may be
able to say 'let the competition do what they can.' Very often the market is
such that there is room for more than one anyway.
There is always call for you to establish an edge over the
competition. With High Street banks for example they all offer broadly similar
products and services so the only difference in any particular town is the
behaviour of the local representatives. They are in a position to gild the
service with their own personality and level of competence and the management
of their front line staff and their back room departments. In the end the
national nature of their industry means that whatever they do has no big effect
on the performance of the bank as a whole and they have little control over the
activities of their centralised functions.
So I can find an equal number of business customers from
each bank who are enchanted or disenchanted with their Bank.
With a smaller locally based business the situation is much
more under control. Adopt the Basil Fawlty school of service delivery thinking,
and you will turn away more than your share of custom. Going the extra mile as
the expression goes will earn you praise and at some point, more customers. I
had this amply illustrated by a mobile telecoms company today who were
travelling a 50 mile round trip to deliver a replacement handset - because that was the 'right' thing
to do.
With the competition I maintain you should check regularly
what they are doing. Check their website, keep an eye on their premises, check
their exhibition stand etc. With a new business this is especially important.
You do not have to do what they are doing but at least be aware and then decide
if you have missed a trick and should do something similar and perhaps better.
But it is not a race. One networking organisation I know
feels unable to accept anyone from rival organisations. Well, there are dozens
of networking organisations and their customers are probably yours as much as
yours are theirs.
An exhibition company I know avoids contact with others in
their 'patch' as they see it. I would have a stand at the others if it was down
to me. Competition is a matter of perception very often. Perception in the eyes
of your customers but also perception of the business market opportunity that
can be found in your competition. Be proud of your brand and your delivery and
rise above it!
Bob Shepherd Associates specialises in building business. If you want the benefit of our
experience in evaluating business and putting practical plans into operation it
need not cost a lot. Make contact today!
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