Learning to Compete
American runner and Olympic Gold Medal winner, Frank Shorter, said “A good athlete always mentally replays a competition over and over, even in victory, to see what might be done to improve their performance the next time.”
Do you know what you can learn from your competitors to improve your performance?
Wal-Mart founder Sam Walton said “Even your weakest rival could have that one good idea you can use in your own business.”
The most successful marketers know themselves and their competition.
Do you and your sales people know what your competitors say about you when they are asked about you by a customer?
Do you know what they claim as their competitive advantage, often called their Unique Selling Proposition, and can you meet or beat that alleged advantage?
Do you know if they have a key player on their team that might be ready to jump to your team the next time you have an opening?
These are just some of the questions you need to answer to compete in business today. The toughest and most destructive blow against your business always comes when it’s unexpected. Knowing your competition is essential to preventing surprise assaults.
Business guru Jack Welch says “An organization’s ability to learn and translate that learning into action quickly, is the ultimate competitive advantage.”