Certainly, all business owners got to know their competitors within the market, their prices, the way they market their products, the way they present their products and services, etc. But focusing an excessive amount of on competitors while forgetting customers is doing the incorrect thing for the business.
Do I specialise in competitors or on customers?
So, also specialise in your customers and check out to satisfy them before brooding about the competition. Give them what they need within the way of pricing, delivery, etc. More satisfied customers means more profit and business growth.
Do I ignore the workers or lookout of them?
Some may ask what’s meant by showing interest in company employees, as long as they’re going to do their job anyway. But what they are doing not know is that employees are the idea of any business, and with employees who are satisfied with the corporate , enthusiastic and dedicated to figure , productivity increases and you recover results. Every business owner should care about their employees even as very much like their customers who are expected to form a profit.
Do I restrict employees or give them authority to work?
When there’s no opportunity for growth, employees feel paralyzed in their current position, which creates a vulnerable work environment. Denying employees the chance to try to to things on their own, come up with new ideas, or attempt to do some things in other ways they see fit may destroy any ingenuity which may exist within the workforce. On the opposite hand, when employees have the power to try to to something, try something new, or make decisions on their own in line with the company’s goals, they become more committed and assured in their work, and this contributes to making a sustainable and profitable business.
Am I almost like other business owners or a pioneer in my field?
Either you follow the remainder of the businesses in your field and imitate what they are doing , or be a pioneer in creating new ideas or presenting new products and services. Your following to other companies could also be more conservative, but will it provide the essential elements needed to realize your goals and objectives? Taking an industry-leading approach can certainly contain more risks, but the rewards are often much greater.