Have you ever had to deal with competing businesses?

[Grant]

Sometimes competing in the industry isn't easy. Sometimes you encounter competing companies that want to drag you around. Have you ever had to compete with a company that did similar things as you? How did you deal with it? I've yet to deal with too much, but I have had to speak with competing companies in the past, but it was more for a team-up than anything.

 

[James]

Yes I was part of business which we started with my uncle and it is about gasoline station which started very well but after 2 years we have big multinational company open their service station and it impact of our sales and profit and it hurts lots as we lost almost 40% business within 6 months.

 

[Kelly5]

Everybody faces competition of some sought everyday in live not to talk of business. This is inevitable being that you're not the first to establish such kind of business. The capital invested and the skill of your trading will determine if your competitors will run you aground you run them aground.

 

[Hasan Raza]

Yes I am dealing with a number of competitors of my business. I have recently started a shop of cosmetics and baby garments with no experience but by the Grace of Almighty Allah work is in good condition. But I don't know how to completely deal in competitive market. You people must suggest me some good ideas.

 

[FreshKaz11]

Sometimes competing in the industry isn't easy. Sometimes you encounter competing companies that want to drag you around. Have you ever had to compete with a company that did similar things as you? How did you deal with it? I've yet to deal with too much, but I have had to speak with competing companies in the past, but it was more for a team-up than anything.

That's the best way to move forward in business,and always think on how to improve your business idea so you could make more sales that the competitor. So is like a challenge in business, without been challenged you won't go far in business,is either you are just been stagnant in a particular place. But when you have a competitor you will always like to think ahead of them just to make more sales and profit.

 

[Bilal0087]

Sometimes competing in the industry isn't easy. Sometimes you encounter competing companies that want to drag you around. Have you ever had to compete with a company that did similar things as you? How did you deal with it? I've yet to deal with too much, but I have had to speak with competing companies in the past, but it was more for a team-up than anything.

Personally I have never any concern with the type of situations because I am still a student and I don't have a any type of business. While in near future I may face such situations and I hope I will successfully deal with it.

 

[IamDozzy]

I haven't directly but a lot of my friends have had to deal to a competing business directly. Ultimately the customers are better off for it because the get to buy things on discount and ridiculously low prices.

 

[Modupe]

Facing competition in a business is inevitably good. It gives the manufacturer the privilege to improve on the products. So, the competition is what bring out the best in the company and it makes the customers have more beliefs in them.

 

[Mostee501]

Competitions in businesses are inevitable especially when more than one person is in the same line of business. My advice is to always stay focused and continue to research what will make your own business stand out.

 

[MercySmith]

When you have one market locked down, feel free to expand to new markets.​

This is important in learning how to handle competition in business. There are other option like keep innovations

 

[Nurudeen]

Definitely, all markets or sectors are now saturated all over the world now. The best thing to do as an investor is to ensure you are ontop at your industry and sell the best products and services to your customers to that they will always come for more

 

[Lawal]

I haven't actually start competing with a business because my business is actually growing at an alarming rate and there are businesses that cannot even compete with mine and through this I have been able to conquer the issue of competitiveness.

 

[Ryeetar]

People are always going to compete with your product, as long as it is not a monopoly market. How I deal with competitors on my part is that I improve on the publicity of my product, if I was only advertising within my neighborhood before now I would go over to other states and cities, also I would run a promo offer, give discount and prizes to the first lucky number of people that buys my product this will help to create enthusiasm within them..

 

[Dubai]

Sometimes competing in the industry isn't easy. Sometimes you encounter competing companies that want to drag you around. Have you ever had to compete with a company that did similar things as you? How did you deal with it? I've yet to deal with too much, but I have had to speak with competing companies in the past, but it was more for a team-up than anything.

Competition in the business world is nothing but inevitable. It is a recurrent decimal amongst people in the same line of idea, and products. Competition should be handled professionally and wisely. In order to outshine your competitors, you would need to be on your toes while being observant. It is necessary you look at what your competition is doing better than you are and admit your weakness in this regards. After which, work on that area, and improve your service or product delivery. It I would advise business owner to have a good relationship with their client or customers as they would provide you with critical information of how you could be better than your rivals in the same business.

 

[Presido]

The competitive part of a business entails that the business has many competitor to compete with and through this the business or firm or enterprises can know the actual rate at which it is making profit and sales whether at an alarming rate. Actually there is no available business competing with me right now.

 

[Keibah]

I haven't really. It is not that competition doesn't exist but I know what my product offers and I also know my market that precisely wants that. The market is big enough for everyone.

 

[Abbeyola]

Sometimes competing in the industry isn't easy. Sometimes you encounter competing companies that want to drag you around. Have you ever had to compete with a company that did similar things as you? How did you deal with it? I've yet to deal with too much, but I have had to speak with competing companies in the past, but it was more for a team-up than anything.

I have been into a telecommunications business setting that we deal in cable subscriptions, electricity bills payment, virtual top up of recharge cards as well as printing of recharge cards. I later noticed my upline has flooded the market already, so it is competitive.

 

[Tariq Nazir]

Competition in the business world is nothing but inevitable. It is a recurrent decimal amongst people in the same line of idea, and products. Competition should be handled professionally and wisely. , you would need to be on your toes while being observant. It is necessary you look at what your competition is doing better than you are and admit your weakness in this regards.

 

[Adventurer]

Sometimes competing in the industry isn't easy. Sometimes you encounter competing companies that want to drag you around. Have you ever had to compete with a company that did similar things as you? How did you deal with it? I've yet to deal with too much, but I have had to speak with competing companies in the past, but it was more for a team-up than anything.

I deal with competition a lot and almost everyone business I know because all businesses are highly saturated. What I do is ensure I give value for money spent, I watch what my competitors do and ensure I'm always a step ahead of them.

 

[Shigobad20201]

Sometimes competing in the industry isn't easy. Sometimes you encounter competing companies that want to drag you around. Have you ever had to compete with a company that did similar things as you? How did you deal with it? I've yet to deal with too much, but I have had to speak with competing companies in the past, but it was more for a team-up than anything.

Theres competition in every business aspects in the whole world, you can't start a new business without having a competitor either near or far, the only way you can compete with them is through advertising your product and also upgrade your product.