When you’re competing with a business rival to get to the top, that rivalry can become pretty intense. Of course, rivalry is healthy and it gives you a good way of assessing where your business is and how well it’s doing in terms of growth. So what can you do to stay one step ahead and keep that close business rival at bay?
By Team Savant
Image: Olga Serjantu
Create a Better Company Culture
Your company culture will say a lot about you and how your business operates. Most importantly, it’ll dictate how much you can get from your staff members. If you want to boost productivity, for example, it makes sense to work on your company culture. Try to create the kind of environment that people enjoy working in and being a part of.
Become a Speaker and Thought Leader in Your Industry
If you can become a known face in your industry, this will immediately give you an edge over your competition. Try to become an industry figure, speaking at events and showing yourself as a creative and intelligent thought leader in your industry. It’ll help to give confidence to your customers and become the trusted voice that everyone wants to come to and do business with.
Work Exclusively With Influencers In Your Space
These days, influencers play a huge role in shaping the purchasing habits of consumers. So if you want to make sure that you can reach your audience and sell to them, you should be working with the relevant influencers in your space. When you do that, be sure to get exclusive deals with them so that your rivals can’t simply copy the strategy for themselves.
Work On Your Weaknesses
There are lots of things your team will be great at, but there will also be weaknesses and areas for improvement. If you’re going to make progress and stay ahead of your rival, you need to make sure that you’re working on those areas of weakness. You can make the most of free courses online and other training opportunities to address them. You can also hire to fill the gaps that need to be filled.
Leverage Technology In New Ways
Finally, you should think about how you can gain an edge over your competition by leveraging technology. This is something that’s very much possible these days, and it’s something that you should try to make the most of. New technology is available across industries and if you harness it in the most up to date and creative ways possible, you’ll gain an edge from it.
As we’ve mentioned, this kind of competition is very healthy in the business world. Having a rival who’s pushing you to improve and better yourself is not only good for you and your team, but it’s also great for the paying customer who’ll be benefitting from all of this. So keep at it and make the most of the advice above.