Competition is great and, in fact, it is wonderful. Our capitalistic economy is predicated on competition and competition is the vehicle that brings lower.
prices to customers and eliminates inefficient businesses. Additionally, competition makes businesses work harder. Sure most entrepreneurs would.
rather avoid competition, but competition is like taxes: Both are here to stay! .
Competition is something that should be welcomed. All are guilty of wanting to stay in a comfort zone. With competition retailers and store owners have to.
move out of this safe zone into a zone that is less secure and we have to take more risks. If one stay in the comfort zone, he/she can get complacent and lazy.
and that is a deadly error. By moving out of this safe area, you grow and your business flourishes. .
What would a collegiate or professional team be without competition? Competition in business is unlike an athletic event, however, as there is a.
beginning and an end to a sports event. With business, competition is a 24/7 event with no time at all for intermissions or rest periods. Entrepreneurs.
are all aware of how easy it would be for competition to come in and take over their market. Entrepreneurs need to be on guard at all times.
No one is exempt from competition. Competition will come to each and every entrepreneur. The question should be "When competition comes, what will I.
do?" not "If competition comes, then what will I do?" Researchers have noticed three ways entrepreneurs attempt to deal with this threat. Some entrepreneurs.
pretend that nothing will happen. Other entrepreneur complain to others (local community boards, local government) about these big boys coming in and wiping out the small business. The third strategy, which is the one that successful entrepreneurs use for dealing with competition, is to develop a strategic plan to enact if these firms propose to attract their customer base. With the development of Home Depot into the local market as a local hardware what steps must be taken to ensure continued survival.