What’s step No. 1 when you suddenly find yourself in competition with a larger business?
Expert RICHARD DUNCAN talked with the Wall Street Journal about the importance of competition in any business environment:
Be confident
in yourself and your product, as there is a reason your small business has become competitive enough to “run with the big boysâ€! You’ve already proved that your business provides what the market needs.Successful businesses are those that continually grow, set goals and seek to be on the list with their top competitors. Competition keeps your business healthy and your products and/or service current with the needs of your clients or customers.
Use to your advantage the fact that a smaller business is more nimble and can adjust more quickly to the market and customer needs. Adaptation is a key to further success; use it to ensure continued demand for your product or services. Meet your audience where they are and you will continue to be a company that can compete with those that are larger.Read More at the Wall Street Journal