Note: Running Fridays in FromGregsHead.com, is a continuing series of tips brought to you by Greg Price. These run Saturday mornings during the BusinessMaker’s Radio Show on KPRC 950AM. Audio files can be found on the Entrepreneur’s Playbook page of the PKF Texas website.
In today’s fast paced marketplace, you can’t afford to get passed by your competition.
Customers usually know the difference between the companies they purchase products or services from. The ability to be pro-active and not reactive when analyzing your competition is important.
Competitive intelligence can help you anticipate trends that are unique to your business or industry.
It can also give you the ability to plan and make strong moves that address both strategic and tactical goals.
If there are areas of your company that need improvement, look to firms who have successfully overcome the same obstacles as a model.
Knowing about your competition can help you chart the course for the success of your business.