Small Business Coaching Book - Customers and Competitors Page III

Customers and Competitors

I have seen many of businesses run year in, year out with little or no growth while the owners struggle to keep their head above water. I have personally experienced what it feels like to ‘tread water’ in a business. Getting some distance from the detail and refocusing on the big vision helped us make the necessarily decisions and move forward. It can do the same for you.

If you are felling frustrated and uncertain then it is time to try something different. I believe that most business owners have the capacity to be successful but it can’t be done with only one eye open.

Summary of Key Points

Customers always come first. Get to know them.
Don’t get emotionally attached to your business concept. Keep your focus on what the market wants not on what you want to give to the market.
Keep a constant eye on your competition.
Become a customer of your competition and see if the experience is a good one.
Always seek to improve your product or service. Just because it works today does not mean it will work tomorrow.
Get creative about adding value so as to stay on top of the competition.
If it’s not working change it.
Involve others so you can get a different perspective on your business. For example ask your customers, staff and suppliers for feedback.

Previous Page Table of Contents Next Page

Copyright © Owen Joyce Australian Business Review. May not be reproduced without permission.

Note there is no substitute for professional, customised advice. If you would like to know more about founding, growing or selling a business, consider talking to a business coach today. Call us on 1800 632 907.

Services available Australia wide. Sydney NSW, Melbourne VIC, Canberra ACT, Brisbane QLD, Adelaide SA, Perth WA, Launceston TAS, Darwin NT