Understanding what your customers want and reacting to their needs quicker than your competitors can give you a crucial advantage in a tough market.
To be competitive, you must ensure the main focus of your business is on your customers:
- Do you regularly compare your business performance with that of competitors?
- Can you use this information to grow your business and provide a competitive advantage to potential successors?
- Will you also potentially be competing for successors in the same market?
- Are you at risk of disgruntled staff leaving and establishing their own business in competition if your succession plan is not handled properly?
You must also understand your competitors’ strengths and weaknesses and how they will react to customer needs and changes in the industry, so you can stay one step ahead. At the same time you must make sure your business complies with relevant competition laws.
Good advice = more certain future
Are you a business owner wanting advice on:
- Growing sales, improving profit and cash flow
- Attracting, retaining and motivating staff
- Reducing key business risks and protecting assets
- Maximising your business value
- Effective management/ownership and succession planning
Not all business advisers specialise in improvement advice. OBT’s Business Solutions team in Gatton does and are value improvement specialists.
Ask our friendly team about the work we do as accredited Value Improvement Business Advisers on 07 5462 2277.