Industry and business is changing all the time, which is why you need to always be one step ahead of your business competition.
The world of work is very different to the one our parents’ worked in. We’re in an uncertain economy and an always-changing industrial landscape.
Quaint old notions like job security and career progression are either on the way out or in the process of being completely redefined.
Gone are the days when our hard work was in direct correlation with our pay. This is the age of corporate wage suppression where the businesses that employ us deliberately repress our wages to insulate their bottom line. This is the age of zero-hour contracts, and the gig economy, where freelancing is the new employment.
In a job market gone topsy turvy, entrepreneurship seems like the only sane choice. Yet while the digital era offers us all opportunities to go into business for ourselves, it’s vital that we remember that our competitors have all of the same opportunities.
In order to succeed in the increasingly competitive world of small business or freelancing, it’s essential that you stay two steps ahead of the business competition. Whatever the size, nature and scope of your business, here are some ways in which you can leave your competitors in the dust.
Carry out regular competitor analysis
As tempting as it is be to bury ourselves in the running of our businesses and keep our eyes on our own work, competitor analysis should be a necessary part of your operation.
You don’t exist in a vacuum. Whether you run a thriving SME or an Amazon store, it behoves you to keep an eye on your competitors.
Fortunately, there are tools that can help you to do this such as Word Tree Amazon Keyword Tool or Spyfu. When you know why your competitors are ranking higher in search queries than you, you can easily extrapolate what you need to do to outrank them.
Don’t be afraid to make your voice heard
A great deal is made of finding your USP in business. But as competition grows, it can be difficult to distil what you can offer your customers that nobody else can.
I’ll give you the answer to that for free… Your voice. Your business is a reflection of you personally. It’s the sum total of all of your experience, knowledge, imagination and unique perspective.
That exact combination is something that no competitor can match. So use that voice as often as you can. Embrace content marketing, write blog posts, make video content, show your customers that you have a charming and engaging personality. But more than that; you have a plethora of knowledge and experience that your business competition can’t match.
Hire the best and make sure that they stay the best
Of course your creative vision and business model are what helped to get your enterprise up and running, but it’s your employees that will carry it from strength to strength. They will also help to keep you ahead of your competitors. Not only will you need to recruit the best, you’ll also need to ensure that they remain the best… And that’s not something that a lot of businesses make time to do.
Keep them motivated with regular training, evaluation and a system of continual professional development and they’ll propel you to new heights.