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frankzappa

9. Always be aware of your competitors’ moves : 10 Business Tips for New Entrepreneurs

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9. Always be aware of your competitors’ moves

Business can be cut-throat. Your competitors will always try to knock you down so that they can remain at the top. While you don’t want to obsess over your competitors you do always want to be aware of what they’re doing so you can stay ahead of the game. Which products and services do they offer? How do they market their brand? How do they price their products and services? How do they treat their customers? You need to find out every little detail in the early stages so that you know how to compete. If you find they offer a great product but terrible customer support, you can put a bigger emphasis on customer relations. The goal is to find out what their overarching weaknesses are and make those are your strength while still having a great collection of services and products for your customers. But remember, don’t obsess too much over the day to day of your competitors. Your obsession should center around your customers and employees. Make those two groups happy and you’re golden.

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