Archive for June, 2009
There is competition in businesses and home businesses are not an exception. In fact, competition can be sometimes more intense in the home business setting. It's because there are more people aiming to carve a niche in home business so that they don't have to work the 9-5 anymore. They want to succeed because they have tasted what it's like to slave away the hours in the office while they could be working at home.
So what can you do to help beat your competition? Just like in any war, you have to know your enemy. This is how you're going to map the direction of your home business using the strategies that you're going to implement after you have gotten the information about your competitor. Here is a list of things you can check:
· Who are your competitors?
There is a saying that goes "keep your friends close but your enemies closer". You have to know who your competitors are. It can be direct or indirect competitors. The direct competitors are those who are offering basically the same product or service to the same market. Your indirect competitors don't directly compete with you but somehow takes a bite at your piece of the market's pie. Even if you've established a niche in home business, there will always be competitors and you should know who they are.
· What are their strengths?
You should know why you consider them a threat to your business. They usually have strengths that they use to their advantage as a home business. It could be they're offering lesser price or better products. You should know their strengths to see if you can compete with it. Know your own strengths to see how you can use this to go head to head with them. If you don't think that's possible, use your own strengths to work around their strengths.
· What are their weaknesses?
If you really want to succeed, you have to know your competitors' weaknesses so you can take advantage of it. This would depend on how bad you want to succeed. Most businesses would not care if they drive their competitors to the ground. So it's up to you on how you're going to utilize this information.
· Can you work with your competitors?
Sometimes, competition in home business is healthy and it's better to call a truce and work together for the common good. This is especially helpful if you are indirect competitors. You can try and work something out on how you can co-exist.
Competition in home business is unavoidable and can contribute to your failure. But that shouldn't discourage you from starting your own business from home. There are home businesses in the market that leaves its competition way behind with the way it revolutionized the home business idea. You can check it out at http://sixfigurespro.com to see what this business did to get ahead of the competition. Starting your own business from home has never been this easy.
XIII Int'l Tchaikovsky Competition: Nikita Borisoglebsky | Brahms: Violin Concerto | 2nd mvt.