How to Get Ahead of Your Competition – Tips for Small Businesses

cocoa importers

One to one business meeting

Starting a business is difficult. There is no other way to say it. It is downright one of the most difficult and toughest things to do on this planet. Just looking at the stats will make you realize the adversity in this particular activity. See, almost 40% of all the newly started businesses, fail in their first year. Long story short, almost 90% of all businesses fail within a decade.

Now, what does that tell you? If 10% of businesses are surviving more than a decade then this means that most startups are not doing things in the right manner. Even if by some miracle, these startups make some good decisions in the early years of their conception, they eventually fail and shut down, and it’s just a matter of 9 more years.

Now, ask yourself this question, would you jump off an airplane, if you knew that 90% of the parachutes don’t work? Would you go sea diving if you knew that 90% of the divers do not live to see another day? These stats are mind-blowing, if you think about it, starting and running a business is a task, which can well be categorized as something, which is close to impossible.

Yet, people still want to do it. And, yes you should do it as well. Yes, it is risky however, if you are amongst that 10% of entrepreneurs, who have managed to make their business thrive for more than a decade then you are quite simply doing something that most people on this planet cannot do that easily.

This is why most people are fine with doing jobs because having a steady job that pays decent money carries less risk of losing than starting a business. But that doesn’t mean that you should not try. If you look at things practically then as difficult as things may seem in the business world, there are 10% of businesses, which are making it work and if that 10% can do it then every other business organization can become successful as well. It’s just a matter of how you can achieve this.

So, if you are a small business owner, who is looking for tips, which can help you in making your business successful and leave your competition behind then you are at the right place.

Be Adaptable

If you are reading this then you already have a small business this is why it is pointless to tell you about the basic stuff such as finding your passion and creating the perfect product and things like that. See, you already have a product or a service, which you are already exchanging for some currency in return. Now, what you need is to adapt to the ever-changing world around you. Now, this world contains both, your customers and your competitors and you need to keep your eye on both of them if you wish to get ahead of the game.

If you learn to adapt to the ever-changing dynamics of the market then you will, not only appeal to your customers in the most effective manner but in fact, you will also be able to leave your competition behind as well. Having the capability to react to the changes in your surroundings in the most effective and efficient manner is the only way that you will be able to achieve what you have set your eyes on.

S.W.O.T

If you haven’t as yet heard about it then you need to go and search about it as soon as possible. S.W.O.T stands for strengths, weaknesses, opportunities, and threats. Analyzing yourself and your business organization will allow you to jot down the strengths, weaknesses, opportunities, and threats of your organization and yourself. It will provide you with a better understanding of who you are and of who your business organization is and what can be done. This analysis can also provide you with the right direction for your business organization as well.

For example, if your strength is that you have connections with hundreds of cocoa importers then you can turn this strength into an opportunity for your business organization and start looking for suppliers and easily make an astonishing amount of profit. Likewise, if you understand your weaknesses and know what threatens your business then you can work out a strategy, which can help you in covering all the areas where your business organization lacks and work on eliminating all the threats.

Copying isn’t always a bad thing to do

Yes, working on a unique idea is something that can take you places but walking a tried and tested path of success is not a bad thing to do. If you copy something, an idea, or a product, which is already doing wonders in the market then you can make money from someone else’s hard work.

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