1. Money

One of our Management Tips tells you:
Your biggest business challenge is your competition
They have to take your customers to survive or grow. How are they going to do that? How can you stop them? How can you steal their customers? Don't wait for it to happen. Start preparing NOW.

If you want more details than the Management Tip provides, read "What's the Competition Doing?, Resources and Advice for Gathering Competitive Intelligence."

Comments
May 30, 2006 at 12:32 am
(1) Twain says:

Hi John,

I read the few lines you wrote about our competitors being our biggest challenge, and I beg to differ. I look at the way we keep innovating, learning, evolving from within as the biggest challenge, and taking care of that will automatically meet the challenge of competition. What do you think?

Twain

November 12, 2009 at 2:03 am
(2) Competitive Intelligence says:

Hi Twain,

If you consider innovating and evolving as your biggest challenge, you should ask yourself what lets you innovate and evolve. It is not really the customer. If none of your competitors would satisfy the changing needs of the customers you wouldn’t have to either. Or if you would, it would be your big chance. However it is the whole market which is responsible for your described challenges. Therefore it is crucial to know where the market and this includes your competitors are going to.

Marc

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