Among the many challenges an SME grapples with, is the competition dilemma. No matter the business you start you are likely to encounter competition sooner or later. Competition is not your enemy. Having a clear understanding of your target audience and the market size can help calm your anxiety. But because most SMEs do not know how to measure both, they tend to focus on the competition. With this follows the pleas from clients or your sales reps to slash prices as a solution to the competition dilemma.
I assure you there is another way and a better one. It may seem longer but in the long run you will enjoy more profits. It is the way of having a strategy. If done right you will better understand your position and how to play to win.
Join the Strategy conversation at a Profit Network Chapter near you and discover how to deal with the competition dilemma. See flier below for details or contact us directly.
Looking forward to bumping into you at a chapter meeting! Until then remember what you treasure you measure and you can only improve on what you measure.
To Your Thriving!