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So what is competition? Many people consider it the chance to beat someone else’s brains in. To show that they are better than the other guy. Some companies today do all that they can to crush the competition. They buy them up or force them out. And of course it’s their right to do such things. But really where would we be if we didn’t have some competition?
Look at IBM for example. For decades they were the big guy. Hell they were nicknamed big blue of all things. And they felt they were invincible. Then one day during the 1990’s they found that they weren’t really that invincible. They’d lost their edge and were on the verge of bankruptcy. The little guys that they used to swat like flies had grown up. Companies like Apple Computer, Dell, and many others. IBM was saved but only in the nick of time. Today they are stronger than they have ever been. But now they respect their competition.
Companies like Target and Costco while not as big and mighty as Wal-Mart survive and thrive. They keep Wal-Mart on its toes each and every day. And even though Wal-Mart is great at giving us low prices many of the other things they do aren’t so great. Costco has average employee wages that are twice what Wal-Mart’s are. And Target offers a great selection of merchandise in stores that are usually cleaner and much easier to shop in. Are any of them perfect at what they do no. But because their competition is always intense consumers benefit with better products, better prices, and better service.
Just look at what has happened to the former big 3 automakers. For years GM, Chrysler, and Ford have floundered. For decades they were so worried about each other that they didn’t respect the Japanese. Today they aren’t even America’s big 3 anymore as Toyota has moved in. They used to be able to use the slogan “Made in America” to appeal to us as American’s who were tired of all the Japanese imports. Well guess what? Toyota is now “Made in America” too with manufacturing plants in the United States as well as Japan.
Can America’s original automakers rise back up? Sure they can and many hope they do. Because they can also push Toyota in exactly the same way by being better at what they do.
Competition is good for business. No matter how big or small the players are. If we have no one to compete against where is our incentive to do things better? Most people would try to say that we would still put out better products or services because customers would demand it. That’s not true and you know it. Companies would continue to do exactly as they had always done. People need competition in business. It helps to put a fire in the belly and start the adrenalin flowing. Plus you know you love beating the other guy.
Cash Miller is the Editor of SmallBusinessDelivered.com and hosts his own blog at www.SmallBusinessDelivered.com/cash-millers-blog.
Look at IBM for example. For decades they were the big guy. Hell they were nicknamed big blue of all things. And they felt they were invincible. Then one day during the 1990’s they found that they weren’t really that invincible. They’d lost their edge and were on the verge of bankruptcy. The little guys that they used to swat like flies had grown up. Companies like Apple Computer, Dell, and many others. IBM was saved but only in the nick of time. Today they are stronger than they have ever been. But now they respect their competition.
Companies like Target and Costco while not as big and mighty as Wal-Mart survive and thrive. They keep Wal-Mart on its toes each and every day. And even though Wal-Mart is great at giving us low prices many of the other things they do aren’t so great. Costco has average employee wages that are twice what Wal-Mart’s are. And Target offers a great selection of merchandise in stores that are usually cleaner and much easier to shop in. Are any of them perfect at what they do no. But because their competition is always intense consumers benefit with better products, better prices, and better service.
Just look at what has happened to the former big 3 automakers. For years GM, Chrysler, and Ford have floundered. For decades they were so worried about each other that they didn’t respect the Japanese. Today they aren’t even America’s big 3 anymore as Toyota has moved in. They used to be able to use the slogan “Made in America” to appeal to us as American’s who were tired of all the Japanese imports. Well guess what? Toyota is now “Made in America” too with manufacturing plants in the United States as well as Japan.
Can America’s original automakers rise back up? Sure they can and many hope they do. Because they can also push Toyota in exactly the same way by being better at what they do.
Competition is good for business. No matter how big or small the players are. If we have no one to compete against where is our incentive to do things better? Most people would try to say that we would still put out better products or services because customers would demand it. That’s not true and you know it. Companies would continue to do exactly as they had always done. People need competition in business. It helps to put a fire in the belly and start the adrenalin flowing. Plus you know you love beating the other guy.
Cash Miller is the Editor of SmallBusinessDelivered.com and hosts his own blog at www.SmallBusinessDelivered.com/cash-millers-blog.
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The Value Of Competition
Every entrepreneur wishes they had no competition. But without competition where would we be? Stuck because it’s competition that pushes a business forward. Without competition we would never have a need to be innovative.
By: Cash Miller
Every entrepreneur wishes they had no competition. But without competition where would we be? Stuck because it’s competition that pushes a business forward. Without competition we would never have a need to be innovative.
By: Cash Miller
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Know Your Business Inside And Out
Often people start businesses just because they think they have a good idea or see something someone else is doing and think that they can do it better. But do they really know what they are doing? In business you should know all that you can about your business and the industry you are in.
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As a small business owner you will be tested day in a day out to get things done. You will need to know twice the things you actually do. And only have half as much information will be available as you would like. You will be frustrated and angry at times but you must persevere.
Small Business Owners Need To Delegate!
Small business owners have a bad habit of trying to do everything themselves. When you first started out you may have been a one person show. But if that is not the case anymore then you need to learn how to delegate some of your responsibilities to others.
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Whether you have realized it yet or not the product you are selling today may be obsolete tomorrow. That is why you need to be familiar with the four phases of the product life cycle because eventually you may need a new product or an updated product for your company to survive the downfall of what you are selling today.
Often people start businesses just because they think they have a good idea or see something someone else is doing and think that they can do it better. But do they really know what they are doing? In business you should know all that you can about your business and the industry you are in.
Small Business Is About Perseverance
As a small business owner you will be tested day in a day out to get things done. You will need to know twice the things you actually do. And only have half as much information will be available as you would like. You will be frustrated and angry at times but you must persevere.
Small Business Owners Need To Delegate!
Small business owners have a bad habit of trying to do everything themselves. When you first started out you may have been a one person show. But if that is not the case anymore then you need to learn how to delegate some of your responsibilities to others.
What Are The Four Phases Of The Product Lifecycle?
Whether you have realized it yet or not the product you are selling today may be obsolete tomorrow. That is why you need to be familiar with the four phases of the product life cycle because eventually you may need a new product or an updated product for your company to survive the downfall of what you are selling today.