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No matter in what industry or what business you are, the competition in the market is higher than ever. In the present circumstances, you cannot choose to loose in any front to your competitors. Thus, you need to be always one step ahead of others so that you can always outsmart them in every way possible.
Now, the process of outsmarting your competitors and gaining an advantage over them requires strategic planning and proper execution of that plan.
But are you aware of what you need to do to outpace your rival?
Hence, here are few steps that you can follow which will help you to gain a considerable advantage over your competitors:
Keep the atmosphere as friendly as possibly: Building up new start-ups is certainly not easy and the fear of being eaten up by other competitors is always on the list! Majority entrepreneurs see their rivals as their mortal enemy but aren’t it more fun to compete with your friends on the exam than strangers?
So, always be friendly. Do not take the competition in a rigid way and communicate with your competitors. Instead of getting jealous by your competitor’s new strategies, use it to improve your next move – always a better strategy to outpace your rival. Track down their moves to improve your own! Shake hand with your opponents by heart, not by mind.
Learn from your rivals: But always do not take your competitor’s move as competition and do not hurry in giving them a befitting reply with your move. Instead of that, learn silently. Learn to admire your rival’s great move, congratulate them. Your rival can be your biggest teacher ever, so do not lose that option of learning in the midst of hardcore competition.
Explore Abdul Vasi's Books on Amazon
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Bitcoinpreneur
A beginner's guide to understanding and investing in Bitcoin and cryptocurrencies. Do the verbal attacks really work on your competitors?
If your rival company is a much bigger company than yours, indeed, the direct attack will not work on them. In the first place, you will not be able to encounter them with your move. So, the best advice is, first learn from them, worship them as your teacher and afterwards turn them down using their own tricks.
Be open to alternate plans: Do you always have alternate plans for adverse conditions? The above two ways are surely two of the greatest ways to outpace your rival, but it does not work in all circumstances.
Sometimes the situation alters, and by the time you mark your opponents, they have already eaten you up. The death blows do not come from the above; it always comes from the below i.e. it comes from those companies whom you did not even consider as a fitted competitor.
So, always open for alternative plans. Just don’t look up for rivals; sometimes looking down helps too.
Is there any end to the challenges and competition in the business world?
No! Hence, you need to take this sportingly and try harder to make yourself better to outpace them.