You might mistakenly believe that there is nothing to learn about business from ‘The Art of War’ by Sun Tzu, oh but there is!
Take the concept of ‘Avoid What is Strong and Attack What is Weak’. Might sounds a bit aggressive but think about it like this:
If you choose to go head to head with your competitors on the same point, like competing on delivery times or bring a product to market first, you better be the best because if not you will go out of business pretty quick.
If you chose to compete instead in an area your competitors are weak at, you will stand a far better chance of winning a share of the apple.
For example, if you own a deli near a big shopping center there is little point in selling the same products as Coles and attempting to compete on price because you’ll never win! Their buying power is waaayyy too big and they are too strong in this area.
So therefore you need to compete with them on something they are weak at, like for example selling local organic cheeses that you can’t buy in many stores. They are unlike to ever be able to compete with you in that area because the supplier simply couldn’t supply them in large enough amounts to make it worth their while.
Find your unique selling point (USP) that your clients love. Get known for something and get really good at it!
Time to put down your sword and pick your battles with your competitors wisely.
As well as being a Chartered Management Accountant (CIMA) and ex-CFO with over 20 years experience, she has also worked extensively with small and medium sized business owners to help them grow profitable businesses.
She's also a certified coach, NLP practitioner, Metadynamics TM Consultant and contributor for Kochie’s Business Builders.
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