Competing Against Your Competition

It is inevitable that a business owner will face competition. There is always going to be a company offering products and services that are similar to what you offer. You, as a business owner, can spend hours researching your competition. However, by doing that you are taking away valuable time that could be spent on other issues that will help your company to achieve business success.

The Alternative Board® President and CEO, Jason Zickerman, agrees that it is a good idea to keep an eye on your competition, however, setting your own standard of excellence and competing against that, may put you ahead or your competition, while improving your business at the same time.

“As a business owner, you should keep an eye on your competition. However, spending hours researching and focusing your team on understanding your competition may not be the best use of the company’s time. When it comes down to it, you should know what your competition is doing, but your biggest competitor may actually be your status quo.”

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