Be The Leader And Reinvent Your Business

Too many small business owners react to their competition, doing whatever they can do to stay competitive. Typically, this means following the leader’s price, guarantee, all so-called “industry standards”, but really, the lead dog is setting the way and everyone else just follows.

How about setting your own standards and instead of following others you become a leader, not by reacting, but by doing what’s right for you? It makes little difference what your competitors are doing; what you are doing makes much more of a difference. You battle price with “perceived value”, offering what seems like more for a higher price. You fight price with better service. You create a better guarantee policy, you deliver better quality, you customize, specialize, educate, deliver on time and generally do whatever it takes to create your own niche market by doing a better job of focusing on client needs and wants, not just what your competitors are doing.

The point here is to focus on one’s own strategies and tactics and not on one’s competition. This works. This is not to say you should ignore your competition, not at all. That would be folly and a mistake. It is certainly appropriate to consider what their strengths and weaknesses are and to exploit their weaknesses and outdo their strengths. For certain, that is a good thing to consider in your overall planning, but never simply emulate your competition, do it better. Do it your way, in your style with your competitive advantages.

We have talked about reinvention a lot. Create your strategy based on your strengths and vision and implement it. Do the best you can and your competition will want to follow you. Let them because you can do little about it and you will always be one step ahead as your strategy must always be evolving, adjusting, growing and expanding. Stay ahead of your competition, let them follow you.