4 Key Advantages You Hold Over Your Competition
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Andrew Cox
Apr 27, 2013, 1:40:06 PM4/27/13
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Please consider this free-reprint article written by:
Andrew Cox
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Article Title: 4 Key Advantages You Hold Over Your Competition
Author: Andrew Cox
Word Count: 667
Article URL: http://www.isnare.com/?aid=201934&ca=Business+Management
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=201934
Easy Publish Tool: http://www.isnare.com/html.php?aid=201934
*********************** ARTICLE START ***********************
In today's frenetic operating environment it is difficult to know what to concentrate on in order to keep an edge over your competitors. Geographical, technological, legal, capital and labor advantages that once existed have all but disappeared (over the past 20 years) with international deregulation, free trade, privatization, venture capital and cheaper technology leading the charge.
In order to differentiate your business from your competitors, there are 4 key advantages that you should nurture and develop:
1. Knowledge
2. Systems
3. People
4. Marketing
Let's explore these advantages in more detail...
Knowledge
At the end of the day, it is your knowledge which truly distinguishes you from everybody else. Your knowledge influences all aspects of your business, especially your decision making. So how do you nurture and develop knowledge?
* Value learning and allow time for yourself and your staff to develop knowledge specifically related to your business
* Promote brainstorming and creative thinking processes
* Use your knowledge to create a clear set of values and a vision for your business
Systems
Systems are important because they guard your time against non-productive activities � allowing you to build your business rather than just keep it going. They move you from being paid for you labor to being paid for your ideas. This is an important distinction to keep in mind.
Business systems allow you to delegate activities with confidence because you have a clear checklist with which to test processes and outcomes. Consequently, you can provide constructive feedback to your people and customers regarding the core elements of your business. Furthermore, you can use the benefits of your systems to enhance your marketing message � as many successful companies have done � think of Fed Ex and Dominos Pizza.
People
People are the greatest asset you have in your business � more than your brand, systems, products etc. They give life to every aspect of your business from sales to product development. Why therefore, do the majority of business owners handle their people poorly? Because attracting and managing quality people is difficult � it takes time and effort, and the results are less tangible when compared to systems, marketing etc. There are also many aspects that can go wrong, so it pays to be prepared�
So what should you concentrate on?
* Hire people that have better skills and vision than you
* Develop a quality system to evaluate candidates based on both the skills required, and the values and vision of your business
* Make sure you are involved in the interviewing process, trust your instincts
* Avoid employing people because they are a similar personality style to you
Marketing
Marketing is the most important aspect of your business.
Why?
Effective marketing attracts people to your business who are keen and eager to buy your products and/or services. Many second-rate products have become market leaders as a result of effective marketing campaigns.
Consequently, as a small business owner it is imperative that you have a strong understanding of marketing � don�t just delegate it to someone else � they can do the leg work but you must drive the decisions in this area.
The key factor in effective marketing is TESTING � if you continually test your marketing campaigns then you can maximize your returns rather than wasting valuable funds.
Remember, effective marketing can multiply you profits and therefore your success over your competitors. Ensure that marketing is a priority in your business.
So, to re-cap�
In order to differentiate your business from your competitors, there are 4 key advantages that you should nurture and develop:
1. Knowledge
2. Systems
3. People
4. Marketing
If you can concentrate your efforts on these areas, then success and increased profits will follow as a natural consequence�
About The Author: Andrew Cox is the Co-founder of Business Boot Camp. We provide FREE resources and paid programs to help small businesses get their bottom lines into shape! Join a profit-driven web community today... http://www.businessbootcamp.net.au
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=201934
*********************** ARTICLE END ***********************
- To distribute your articles go to http://www.isnare.com/distribution.php
- For more free-reprint articles go to http://www.isnare.com
Message delivered directly to members of the group:
publish-the...@googlegroups.com
*****************************************************************
Please consider this free-reprint article written by:
Andrew Cox
*****************************
IMPORTANT - Publication/Reprint Terms
- You have permission to publish this article electronically in free-only publications such as a website or an ezine as long as the bylines are included.
- You are not allowed to use this article for commercial purposes. The article should only be reprinted in a publicly accessible website and not in a members-only commercial site.
- You are not allowed to post/reprint this article in any sites/publications that contains or supports hate, violence, porn and warez or any indecent and illegal sites/publications.
- You are not allowed to use this article in UCE (Unsolicited Commercial Email) or SPAM. This article MUST be distributed in an opt-in email list only.
- If you distribute this article in an ezine or newsletter, we ask that you send a copy of the newsletter or ezine that contains the article to http://www.isnare.com/eta.php?aid=201934
- If you post this article in a website/forum/blog, ALL links MUST be set to hyperlinks and we ask that you send a copy of the URL where the article is posted to http://www.isnare.com/eta.php?aid=201934
- We request that you ask permission from the author if you want to publish this article in print.
The role of iSnare.com is only to distribute this article as part of its Article Distribution feature ( http://www.isnare.com/distribution.php ). iSnare.com does NOT own this article, please respect the author's copyright and this publication/reprint terms. If you do not agree to any of these terms, please do not reprint or publish this article.
*****************************
Article Title: 4 Key Advantages You Hold Over Your Competition
Author: Andrew Cox
Word Count: 667
Article URL: http://www.isnare.com/?aid=201934&ca=Business+Management
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=201934
Easy Publish Tool: http://www.isnare.com/html.php?aid=201934
*********************** ARTICLE START ***********************
In today's frenetic operating environment it is difficult to know what to concentrate on in order to keep an edge over your competitors. Geographical, technological, legal, capital and labor advantages that once existed have all but disappeared (over the past 20 years) with international deregulation, free trade, privatization, venture capital and cheaper technology leading the charge.
In order to differentiate your business from your competitors, there are 4 key advantages that you should nurture and develop:
1. Knowledge
2. Systems
3. People
4. Marketing
Let's explore these advantages in more detail...
Knowledge
At the end of the day, it is your knowledge which truly distinguishes you from everybody else. Your knowledge influences all aspects of your business, especially your decision making. So how do you nurture and develop knowledge?
* Value learning and allow time for yourself and your staff to develop knowledge specifically related to your business
* Promote brainstorming and creative thinking processes
* Use your knowledge to create a clear set of values and a vision for your business
Systems
Systems are important because they guard your time against non-productive activities � allowing you to build your business rather than just keep it going. They move you from being paid for you labor to being paid for your ideas. This is an important distinction to keep in mind.
Business systems allow you to delegate activities with confidence because you have a clear checklist with which to test processes and outcomes. Consequently, you can provide constructive feedback to your people and customers regarding the core elements of your business. Furthermore, you can use the benefits of your systems to enhance your marketing message � as many successful companies have done � think of Fed Ex and Dominos Pizza.
People
People are the greatest asset you have in your business � more than your brand, systems, products etc. They give life to every aspect of your business from sales to product development. Why therefore, do the majority of business owners handle their people poorly? Because attracting and managing quality people is difficult � it takes time and effort, and the results are less tangible when compared to systems, marketing etc. There are also many aspects that can go wrong, so it pays to be prepared�
So what should you concentrate on?
* Hire people that have better skills and vision than you
* Develop a quality system to evaluate candidates based on both the skills required, and the values and vision of your business
* Make sure you are involved in the interviewing process, trust your instincts
* Avoid employing people because they are a similar personality style to you
Marketing
Marketing is the most important aspect of your business.
Why?
Effective marketing attracts people to your business who are keen and eager to buy your products and/or services. Many second-rate products have become market leaders as a result of effective marketing campaigns.
Consequently, as a small business owner it is imperative that you have a strong understanding of marketing � don�t just delegate it to someone else � they can do the leg work but you must drive the decisions in this area.
The key factor in effective marketing is TESTING � if you continually test your marketing campaigns then you can maximize your returns rather than wasting valuable funds.
Remember, effective marketing can multiply you profits and therefore your success over your competitors. Ensure that marketing is a priority in your business.
So, to re-cap�
In order to differentiate your business from your competitors, there are 4 key advantages that you should nurture and develop:
1. Knowledge
2. Systems
3. People
4. Marketing
If you can concentrate your efforts on these areas, then success and increased profits will follow as a natural consequence�
About The Author: Andrew Cox is the Co-founder of Business Boot Camp. We provide FREE resources and paid programs to help small businesses get their bottom lines into shape! Join a profit-driven web community today... http://www.businessbootcamp.net.au
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=201934
*********************** ARTICLE END ***********************
- To distribute your articles go to http://www.isnare.com/distribution.php
- For more free-reprint articles go to http://www.isnare.com
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