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Hot Management Tips ...
More Competitors ...
Most businesses have too narrow a view on who their competitors are. Competitors are not just those who sell similar goods - they are anyone who competes for the same customer money. In other words, the competitors of a travel agency are not just other travel agencies, they include a company selling sailing craft, a caravan seller, or anyone selling goods to fill in those customers’ leisure hours.
The big advantage of defining your competition fairly widely is that it prevents you from becoming lazy by thinking you have no competition. If you recognise who these extra competitors are, you can then position yourself in the market to win sales away from them - or at least to prevent them winning sales away from you.
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