How to handle fierce competition in your business?

[Kennysplash]

No matter what business it is that you are starting, there are other people that have started it way before you and there will still be people that will start it after you. And sometimes you might find yourself in a fierce competition among others.

When this happens think of it as a time to focus on your business and deliver the best services possible to your customers. When they know that they will get the best from you then they will not want to go somewhere else.

What other ways do you think one can handle competition?

 

[Kane]

You can handle competition in the business only when you are offering better products and services (compared to your competitors) for a competitive price (for less than your competitor's selling price)

 

[Heatman]

One of the best way that we can be able to handle fierce competition in your business is to try as much as possible to conduct customer survey and know exactly what your customers want and you make provisions for them. This is because when you offer customers exactly what they look for in the market they will most likely patronize your products and services.

 

[Jonaville1]

One of the best way that we can be able to handle fierce competition in your business is to try as much as possible to conduct customer survey and know exactly what your customers want and you make provisions for them. This is because when you offer customers exactly what they look for in the market they will most likely patronize your products and services.

Customer survey helps the company to know what the customer wants and they will make business plan of how to go about satisfying their customers which is a very good thing

 

[Sotherefore]

This won't be easy. When the competition becomes too much it will be very difficult for you to face it as a single person establishing a business .
You will also have difficulties because too much competition leads to a lot of unproductive business , that is why it is nice for competition to be moderate.
If I am in this situation I will try to relocate and establish my business somewhere.

 

[eLdavis]

The best way to handle competition is to simply be a better version of yourself. Keep improving your skills, even when you become better than your competition, do not stop improving your skills. This is the only way you can stay at the top.

 

[Planbizzle]

No matter what business it is that you are starting, there are other people that have started it way before you and there will still be people that will start it after you. And sometimes you might find yourself in a fierce competition among others.

When this happens think of it as a time to focus on your business and deliver the best services possible to your customers. When they know that they will get the best from you then they will not want to go somewhere else.

What other ways do you think one can handle competition?

Managing intense competition in your business necessitates a multifaceted approach. Create new items or services that your competitors do not provide, or enhance on existing ones. Maintain agility and be willing to flip your strategy as needed.

 

[Genie011]

No matter what business it is that you are starting, there are other people that have started it way before you and there will still be people that will start it after you. And sometimes you might find yourself in a fierce competition among others.

When this happens think of it as a time to focus on your business and deliver the best services possible to your customers. When they know that they will get the best from you then they will not want to go somewhere else.

What other ways do you think one can handle competition?

Yes you are right, but I think if you have a good experience you can handle the business much more better than others, all that matters is having the knowledge.

 

[Shigobad20201]

Fierce competition is not easy to handle because you will be in a tight corner , all you have to do is get a better advertising strategy and upgrade your product in a better way so that your customers will keep increasing if they see changes in your product .

 

[Heatman]

Customer survey helps the company to know what the customer wants and they will make business plan of how to go about satisfying their customers which is a very good thing

Surveys are very good ways for you to get a direct feedback from your customers because they will fill out the information that you really need to know about your product and services which they purchased from you.

 

[Trey]

In my business, I acknowledge competition but I don't let it get to my head. If it does, I would lose focus. I don't look at competition but focus on producing products that are of the best quality. Everyone has a market share. It is my quality that would keep customers and bring new ones.

 

[Good-Person]

Customer survey helps the company to know what the customer wants and they will make business plan of how to go about satisfying their customers which is a very good thing

I would handle competition by making sure that I produce good products and make sure that I never cheat my customers and always remain and deal with them honestly.

 

[Mayorla]

The best way to handle fierce competition in your business is to; 1. Know your customers and understand them. 2. Understand your competitor and how he works 3. Highlight your differences 4. Keep innovating.

 

[Heatman]

The best way to handle fierce competition in your business is to; 1. Know your customers and understand them. 2. Understand your competitor and how he works 3. Highlight your differences 4. Keep innovating.

A very good business owner will always make sure to study his competition very well and know exactly what he is bringing to the market because that is what he will likely use to lure your customers away from your brand to his own.

 

[Mayorla]

A very good business owner will always make sure to study his competition very well and know exactly what he is bringing to the market because that is what he will likely use to lure your customers away from your brand to his own.

Yes, I think I strongly support this your claim, To beat your competitors, it is of utmost importance to study and understand how they operate. Understanding how they operate would serve as an advantage to you.

 

[Jonaville1]

In my business, I acknowledge competition but I don't let it get to my head. If it does, I would lose focus. I don't look at competition but focus on producing products that are of the best quality. Everyone has a market share. It is my quality that would keep customers and bring new ones.

This is exactly how it is supposed to be and I call it a healthy competition. We can allow competition but it should not get into our head goo much and we should not dislike our competitors.

 

[Shigobad20201]

Yes, I think I strongly support this your claim, To beat your competitors, it is of utmost importance to study and understand how they operate. Understanding how they operate would serve as an advantage to you.

This is the main reason why you need a good business plan for your business, first you need to study your competitor , see what they are bringing to the market and try to outsmart and outshine them by giving your customers the best .

 

[Mayorla]

This is the main reason why you need a good business plan for your business, first you need to study your competitor , see what they are bringing to the market and try to outsmart and outshine them by giving your customers the best .

Yes, before starting a business, You need to make research, This researches would help you in writing a better business plan. With a Business plan, You would already understand how the market works and the edge you have.

 

[Good-Person]

A very good business owner will always make sure to study his competition very well and know exactly what he is bringing to the market because that is what he will likely use to lure your customers away from your brand to his own.

Well, there are many businesses that are far much more competitive as compared top others. However, competitive businesses are also very profitable as well in the first place.

 

[Laurentta]

One can handle fierce competition in one's business by "thinking outside the box". That is offering creative and quality services to customers which your rivals do not offer.