Your competition. A savvy businessman once said . . . “Competition in the marketplace should not be feared. If there is no competition –there is no need for your business!” Take a look at these insights and learn more as to how you can use the competition to your advantage:

Treat your competitor with respect, and learn from their successes and mistakes. Don’t be afraid to study the products and services that they offer. Look into the ways that they market, what is their message, what type of processes do they have in place for their customer service? The goal when doing this is to learn from your competition, and implement strategies that you believe would have a positive impact and appeal to YOUR customers.

Be proactive and welcome change. Stay ahead of your competition with a positive approach to challenges that arise. Arm yourself with the knowledge and the right processes in place that are designed to solve challenges rather than create more chaos. This might take bringing a third party consultant into your company setting to analyze the economic, marketing and sales trends that are impacting your industry. By anticipating change and being proactive, you can make the adjustments and keep your business moving forward and on the right track.

Connect with your customer on a consistent basis. Your customers want to hear from you even if they don’t need your services at the moment. They will – and you want to be there when they do! Make sure to use marketing tools that work for you: an e-newsletter, an interactive website, and social media are all great ways to highlight yourself as the “expert” in your industry.

Talk to your customers. Find out what they need. Always give your best to your customer and consider it an honor that you have been asked to serve them.

When it comes to your competition, don’t disregard what they are doing. If you take a closer look, you’ll most likely see some things that they are “doing right” and could help your business if you approach it with the right mindset!