Wednesday, January 30, 2008

Monitoring Your Competitors

No matter what type of business you have, whether you are at home, in an office, or online, you are going to want to keep your eye on the competition. This is important for several reasons. You need to be sure that you are getting the most customers that you can and that you are meeting the needs of these customers so that you can keep them and get others. In order to do this successfully, you have to be sure that you are keeping up with what your competitors are doing. This has always been the case, from the time that business itself was new. Competition is just that. However, it has lately changed in several ways.

First of all, in the past you keep up with what the top of the field was doing. The business at the top was getting all of the customers, all of the best deals and was just in generally at the place that you wanted to be. This meant that everyone had their eye on who was above them and was sure to keep up with them as much as they could. However, this has changed lately due to several factors.

Because of the internet and of the fact that someone can sell just as many units of something from their basement as they can from a ware house, you have to be aware of what all of the people in your field are doing, even the little guys. In the past the small companies that were just starting out would not have caused you any problems. However, now that these little guys are able to swoop up out of nowhere and own the market very easily, within just a few years, you have to keep your eye on each of them as well.

Another thing that has changed is distance. In the past, you only had to worry about what your competitors in your same area where doing because they were the ones who could get your customers away from you. Now, however, when just about everything is available online, you are going to find that it does not matter where the other businesses are, they can still be competition for you, even in your own home town.

This means that you have to find something that only you can do, or a hook that only you are going to be able to use and you have to strive to set yourself apart from all of the others that are doing the same thing you are. This might seem tough at first but once you have gotten the hang of it, you will see that the competition that is all around the world is actually going to make your business stronger and make you more able to compete in a world wide market.

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