How to win at business and beat competition
Are you an entrepreneur, a startup, or an organisation?
If you have ever questioned yourself as to what it takes to stay ahead of the competition, and win big in the world of business, this article is for you.
For those in a hurry, the long and short of it is; scanning your business environment.
In today's world, it is vital for organisations to scan their environment.
A business environment refers to the sum total of all individuals and other forces that lie outside the business and influence its functioning and performance.
Top 5 ways that can help you stay ahead of the competition
1. Know your competitors
The best, and probably most efficient, way to stay ahead of the game is getting to know your competitors inside out.
Analyzing and interpreting your competitors' next move helps you plan several steps forward and always stay ahead of the game.
A great way to have a thorough perception of the business environment, is to meet more people involved with the industry. This brings us to my next point;
2. Network more
Getting in and out on trends at the right time is what sets the high achievers out from the rest.
The more you network, the more you know about your industry trends. And the more you know about your industry, the better decisions you can make.
At Stride Plus Events, we understand the importance of bringing great people together and inspiring innovation. Read more about our events here.
3. SWOT Analysis
Incorporating different methods to identify your strength’s and breaking points, such as the SWOT analysis (Strength, Weakness, Opportunity, Threat) helps you look into matter that you may have taken for granted.
Not only would this allow you to stay ahead of your competitors, but also ensure long term growth and give you an idea about when to fiddle with your strategies, goals, agendas, etc.
4. Predict & Prepare
Companies often fail in times because of the fact that they only identify what the consumer wants as per current trends.
This is some old-time rookie suggestion.
Don’t get stuck while finding what the consumers want, but spend your time interpreting what the consumer will want.
Unicorns like Apple, Alphabet and Microsoft, have been known to develop products up to half a decade prior to their release. Now that's preparedness.
This might not necessarily help you stay ahead of the game in the present, but sure does help you dominate the game in the future.
5. Don’t stop grinding
My dad always used to say that, as we grow older, our capability doesn’t reduce, it's just that we don’t do the things we uses to do before.
The same applies to business. A little initial success often gets business owners to disregrad the power of hard work.
If you ever find yourself to fail in the market, don’t stop! Identify the next opportunity and move ahead.
Sometimes it’s good to show some aggression to stay ahead of the competition.
6. Scan all aspects of your environment
It is important to scan all areas of your environment.
Be it the socio-economic, political, technological or even the legal environment, you must be up to speed with what's happening, to always have the upper hand in making decisions for your business.
Be it internal or external, know your business environment and know it well.
About Stride Plus Events
Stride Plus is an events organizing and management company based in the UAE, focused on business, networking and community events.
Learn more about out services here.