How You Can Beat Competition

1260 Words Nov 27th, 2016 6 Pages
There are a lot of techniques in ways you can beat competition, hopefully I’ll cover most of the methods in which you can. I’m going to bring a couple of corporations in the same business field how they bring in customers. It’s not the easiest thing to beat the competition in these days due to the poor economy, because if you lower your prices you’re not going to make enough money so you’re going to have to bring in customers a different way by making promotions, by having good services, and good return policies.

One of the best ways to beat competition is by franchising in which you buy the rights to own a store that franchises. There is a big startup cost and you have to pay a certain percentage of income but you’re buying a right in a well establish business which helps a lot, so it’s easy to make back your capital and then start making profit fairly quickly. Most of the times people go out of business is that costumers didn’t hear of the store but, when a franchise of Dunkin Dounuts opens everybody goes there right away because it’s well known and established. This gives you a tremendous competitive advantage.
A real competitive advantage is when your competitor can’t offer the same thing you can offer; if he can offer the same as you can offer it’s worthless. The best way to avoid competition is strategic planning and writing a business plan. Another reason for strategic planning and a business plan is, because costumers want to see your written plan, and in which…

More about How You Can Beat Competition

Open Document