Be the Only One
A recent column in The N&O business section:
“Know everything about your competition.”
The opening statement: “How well you stack up against the competition is one of the most important aspects of whether you fail or success in business.”
Knowing your competition is an important aspect of being in business….perhaps not the most important.
Several times, I have used the quote from Jerry Garcia (The Grateful Dead): ” You want to be considered the only ones who do what you do.”
In our family business….we were in a highly competitive market with 10+ competitors….a few larger….some smaller….with most of the others mid-size. We were selling primarily to a medium quality market. Most everyone was selling in the same price range with similar products.
We had to stand out from the bunch by doing different and unique promotions….having good prices with brand names and most importantly good people providing good service.
Did we know the other competitors….certainly….and some were friends who we often borrowed or bought from to fill an order.
While we knew the competition….we had to do our own thing….being the only ones doing that.