How to Compete—Against Yourself

It's obvious that as a business owner, you need to always be on your toes and thinking of ways to compete with other companies in your niche. But what if you were to think of yourself as a competitor? This recent Tools and Tips article notes that some of the most successful small businesses often treat their own company as their competitor, and analyze it through the same eyes they use to size up their rivals. The article suggests:

• Define your weaknesses: Get together with your staff and pinpoint your business' top three to five weaknesses.


• Better your strengths: If you rest on your laurels, then your competitors will surely find ways to catch up with you.


• Don't fix what isn't broken: If you add a new service or product to your offering, make sure it's something that your customers really want and not just innovation for innovation's sake.


• Be open to criticism: If you're truly going to compete against yourself, you need to start viewing criticism as an opportunity.