If your business is tired of living in the shadow of its rival, you need to think about how you can compete better. Here are five great ideas to try out.
1. Be a Better Employer
Being a better employer than your rivals is useful for a number of reasons. First of all, if you give your staff the best possible deal, they will be more likely to perform well for you. Being a good employer means getting good employees, so it’s more than worth it. Another reason to do this is because it helps to create a positive reputation around your business. When people see that you treat your employees better than your rivals, it gives them another reason to prefer your business.
2. Show How You’re Different
You have to prove to people that you are not the same as all the other brands out there. If people can’t really tell the difference between your business and your rivals, you have a problem. Showing that your business is different to your rivals is a big part of showing that your business is better. To do this, you really need to have a unique selling point that you emphasise over and over again. If people latch onto this USP, it will help to prove to everyone that you’re not doing the same as everyone else.
3. Get the Productive Edge
If your business has higher productivity levels than your rivals, then it will help you a lot. When your employees are more productive, they get more done. And this can only be a good thing when you’re trying to sneak past a rival and dominate your sector of the market. So, think about how you can make your office a more productive place. Investing in new resourcing and taking advantage of training programmes might be a good place to start. Courses in lean manufacturing techniques can help boost productivity and competitiveness a lot.
4. Be Bold and Daring
No one gets anywhere in the world of business without taking a few risks here and there. You have to be bold, daring and innovative if you want to get past the opposition. This is especially important if you’re trying to take on a rival that is more established or has greater resources at hand. Encourage your employees to come up with and share new ideas that can push the business forward. It’s not something that you can do by yourself, so you have to have the support of everyone in the office.
5. Keep an Eye on Them
Keeping an eye on your rivals is massively important. There’s no excuse for letting them get ahead of you if you’re not even willing to keep up to date with what they’re doing. How can you expect to stay ahead of them if you don’t know which direction they’re moving in? Of course, this doesn’t mean that you should become obsessed with tracking what they’re doing. You have to get that balance between focusing on what you’re doing and looking at what they’re doing just right.