How to Keep From Being Swallowed by New, Fresh Businesses

Posted on Thursday, October 17th, 2013 at 11:58 am by shauli

Planning for and executing a sustainable business model is the best way to ensure long term success as a business.  It is wise to remain unique and to stand out amongst the pack.  New businesses may try to copy your idea, strategy, or take your market.  It is your job to make sure this does not happen and that there are no holes in your system that will lead to weaknesses in your current and future plans.  It isn’t always easy because new companies may have fresh ideas and motivated employees.  Trying to out-trick someone that is trying to out-trick you can be tricky in itself.

You must plan for this or you will be run out of town.  Focus on your business and how you can better connect with current and potential customers.  Building trust and having loyal customers is vital to a business, especially a small one.  If the time is right, consider expanding your business to reach a new market that has not been tapped.  Building a bigger fan base will only expand the success of your business.  Also, think outside of the box.  Do not limit your expansion just to a new audience, but to a new product or service.  If you have had success in one field, find another where there is a need, and create a niche within that market.

Also, always be aware of your competitors, new and old.  Look into their marketing campaign and see if they are doing something different that happens to be successful.  It is wise to compare a successful plan to your own strategy to see if you may need to alter anything in the future.  By focusing on your own marketing campaign and always updated your advertising to remain relevant, you will see a return on your investment grow tenfold.

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