That Pesky Competition

Being a strong core company will be your best defense against money-hungry competitors out there. They will always strike where the resistance is weakest and you should do the same. An offensive move by a competitor should bring out the best in you and your business strategy. Keep looking for ways to improve your basic business and never accept status quo for very long.

Things can change quickly and if you're not a part of it you're left behind. Your basic business needs to keep up with the changing times to stay profitable. So if you're in the mousetrap business, don't go off trying to sell luxury doghouses and assume no one will build a better mousetrap. By the time you find out that it happened, you'll have to play catch-up. And catch-up is more difficult and less profitable than being the leader or at least in the top three. Stay on top of your industry and watch your competitors.

More on competition in chapter 9 of the book "When the Shit Hits the Fan" Career Press Publ available at bookstores & amazon.com