5 Startup Tips for Beating the Competition

October 13, 2005 by Chuck | 2 Comments

From StartUpNation

1. Do Some Sleuthing
If you’re truly concerned about the competition licking at your heels, check it out thoroughly yourself. You need to experience what customers are experiencing there. See how their pricing or product mix or the overall encounter fares with your own. Certain other ways of spying on your competition can be helpful as well, as long as they’re all ethical and above-board. Greg Hamilton, for example, operates a Curves International franchise in Bakersfield, California. One of his best ways of getting qualified leads for his women’s workout facility is to leave “lead bags? at other businesses around town where women can drop a slip with their contact information if they want to find out more about Curves. Well, a competitive club in town has started to do the same thing – so Hamilton isn’t above sneaking a look at how many slips are in his rival’s lead bags versus his own.

2. Form a “Club?
Even if your competition is primarily local, every now and then it’s a good idea to see how other companies in your industry, around the region or across the country, are doing things as well. You might even want to create an affiliation of geographically dispersed companies in your industry (therefore ensuring that they are non-competitive with one another) who could help one another immensely because they’re all in the same business and faced with basically the same challenges.

Also…

3. Take PreEmptive Steps
4. Re-energize Your Customer Base
5. Get Back To Your Entrepreneurial Roots

Read more

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Comments

  • Business Opportunities Weblog | Do Some Sleuthing on October 13th, 2005 at 9:47 pm

    [...] StartUpNation: If you’re truly concerned about the competition licking at your heels, check it out thoroughly yourself. You need to experience what customers are experiencing there. See how their pricing or product mix or the overall encounter fares with your own. Certain other ways of spying on your competition can be helpful as well, as long as they’re all ethical and above-board. Greg Hamilton, for example, operates a Curves International franchise in Bakersfield, California. One of his best ways of getting qualified leads for his women’s workout facility is to leave “lead bags? at other businesses around town where women can drop a slip with their contact information if they want to find out more about Curves. Well, a competitive club in town has started to do the same thing – so Hamilton isn’t above sneaking a look at how many slips are in his rival’s lead bags versus his own. [...]

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