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Running Your Business Article

   

Running Your Business

Updated: February 18th, 2009 10:57 AM EDT

Learning how the Competition Does Business

Ron Roberts

Of all the factors that affect your business' success, one of the most RANDOM ones is the quality and quantity of your competition. If you are unfortunately located in a town overloaded with quality competition, your income is going to be capped one way or another no matter how good you are.

If you are trying to build your business in a market saturated with quality competition, your margins will constantly be under great pressure. You will constantly be fighting for volume at the prices you wish to receive.

However, if you are lucky enough to be located in a town with poor quality or non-existent competition, you're probably going to do very well, no matter how good of a businessman you are. In a market without strong competition, you should be able to charge almost whatever you wish. Scheduling your work should be your biggest headache.

Life really isn't fair. Land in the right market and life is easy. Land in the wrong market and life is rough.

You probably are wondering whether we are suggesting that competition is one factor beyond your control. We are not. The intent of this article is to persuade you to put some effort into competitor research and adjust your business strategy accordingly.

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