Keeping An Eye On Competition

While you shouldn't necessarily refer to your competition as your enemies

, the same concept rings true if you are looking to improve the current standing of your business. Sure, you may have been successful in the past, but in order to take things to the next level, you have got to start looking around to see what other people are doing.

While it is not considered 'cheating' to snoop around for a little information, what you are really doing when you look at your competition, is you are sizing yourself up compared to them. You are trying to figure out what sorts of things they are doing in order to maintain their success. Why, look at a company like Apple. You don't think that there are at least a million people who are out there studying Apple's every move in order to see how a successful company operates? There is a reason why some companies succeed beyond belief while others flounder around and then ultimately fail.

In order to begin your quest for world domination in whatever market your business is in, you must first have some sort of a business goal or vision. Where do you see your business in two to three years? How about ten to twenty? What sorts of incentives do you offer to those who work for you? Believe it or not, the types of incentives that you offer to your employees will help you to recruit those who are at the top of their game. However, be prepared to pay out for employees like this. People won't work for pennies. While the current economy is in the gutter, this doesn't necessarily mean that you will be able to offer a meager salary without benefits yet still expect the work to be of the same quality and caliber as someone who is working with those things in place. Instead, you are often left to battle the you get what you pay for mentality.

Training is also key. Despite the fact that someone may have gone to college for 2+ years, this doesn't necessarily mean that they will come out with the required experience to get the job done right away. Rather, most companies find that they have to train their employees to do the job that they want, and this also costs money, so be prepared. For example, when I was in the police department, I went through an eight-month intensive police academy in which all of our equipment, books, licensure and training was paid for. All in all, the police department ended up spending around $40,000 on each of us that made it through the academy. They continue to do this despite the fact that they know that out of each graduating class, more than half of the class will wind up quitting the police department before three years is over. So, then why bother? They do it because it is an investment; it's a calculated risk that they are willing to take in order to have the best officers out there.

by: David Williams 2

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