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Beating the Competition: 4 Tips to Keep Your Business Ahead of the Game

Kara Masterson

November 20, 2017

One of the most difficult things you can do is start a business. One estimate puts the failure rate of new businesses at 80 percent within the first year and a half.

With terrifying statistics like that, many people may not even want to try their hand at running their own company. However, there are strategies you can use to gain an advantage over your competition. Below are four tips for keeping your business ahead of the game.

Study Your Competition

If you want to surpass your competition in a given market, you need to be aware of exactly what they are doing with their products, services and marketing. This is different than simply mimicking what your competition is doing. You may, for example, notice inefficiencies or customers your competitors are ignoring. This can allow you take advantage of those flaws to gain a strong advantage.

Use a Business Answering Service

Another thing you should do to get ahead in the game is outsource certain business processes. These should be tasks that are important but are not directly related to the product or service you provide to customers. One of the best choices to outsource is over the phone customer service. Using a business answering service like Security Services Northwest, Inc. or someone similar to provide over the phone customer service can allow you to use your talent and resources on more important tasks.

Expand Your Reach to New Customers

Something you should continually invest in as a business is market research. If you want to gain a strong advantage in a marketplace, one way to do that is by expanding the amount of people you can reach with your marketing. An excellent strategy is to advertise on the internet. The internet has a far wider reach than traditional advertising platforms. It’s also far cheaper as well.

Evolve with the Times

The evolution of business is a continual process that will never cease. You need to keep up with current trends and be able to forecast the future with some accuracy. Think for example if your company was one of the first to release an app. This could have given you an edge over your competition. You need to be able to see where the wind is blowing and adjust accordingly. If you refuse to evolve, your competitors will surely leave you in the dust.

Obtaining success as a business is difficult, and maintaining that success for the long term is even harder. However, with a lot of hard work and solid strategic planning, obtaining success for the long haul is very possible. Do your best to stay ahead of the game.

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