Every entrepreneur wants to make profit,every entrepreneur wants to remain in the market and wants to have a long list of customers demanding for their products.
But we always have a quicken heart beat at the thought of competitors in our businesses and services we render.
Look on the bright side of having competitors and you will appreciate having them around you.
Last time I checked,for example we have various detergent producers and everyone has it's own customers depending on the customers taste,consumption and money.
Having competitors is healthy for your business because it gives you the room to think and ask if you want to remain in the business.
I followed a trend of a product of recent and was amazed at their recent product and price when competition sets in and the company had to go back to the drawing board.
Top Seven (7)reasons having competitors is healthy for your business.
1.Helps in strengthening your weakness and proffering solutions to it.
2.Makes you unique. Creative thinking sets in when everyone is producing or rending your kind of business.You will want to stand out.
3.Makes you stay focus on your customers wants,demand and keeping them.
4 . Helps your business to grow if you step up to the challenge.
5.A source of innovative for your business.
6.Makes you understand the consumers needs.Thereby,producing for their needs depending on your kind of customers.
7.Brings a new brand to your business because you think smartly and want to make more money.
Not forgetting it is a benefit to the consumers . There is opportunity to buy things according to ones taste because there is varieties in the market and at affordable prices.
Nafi's Random Musings@ www.nafisustain.com