Should I Focus on Competitors? Or on Customers?
Certainly, all business owners need to know their competitors in the market and their prices, and also know how they market their products or the way they offer their products and services. But focusing heavily on competitors while forgetting customers harms your business. You have to focus on your customers and try to satisfy them before thinking about competitors. Give them what they want. More satisfied customers means more profits and growth.
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Should I Ignore My Employees? Or Take Care of Them?
Some people may wonder why it is important to care about company’s employees, given that they will do their job anyway. But what these people are not aware of is that employees are the basis in any business, and with satisfied who are enthusiastic and dedicated to work, productivity increases and you get better results. Every business owner must care about his employees just like his clients who are expected to purchase the products and services.
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Is it Good to Restrict Employees from Trying New Ideas?
When there is no opportunity for growth, employees feel paralyzed in their current positions, creating a weak work environment. Depriving employees of the opportunity to do things on their own, get new ideas, or try to do things in other ways may destroy any ingenuity that may exist in the workforce. On the other hand, when employees have the ability to try something new, or make decisions on their own in line with the company’s goals, they become more productive and confident, and this contributes to creating profitable business.
Also read: How to Attract New Customers to Your Online Store
Am I Similar to Other Business Owners? Or an Innovator?
Either you closely follow other companies in your field and imitate what they do, or be an innovator by having new ideas or offering new products and services. It may seem to be safer to follow other companies, but will this help you achieve your goals and objectives? Being an innovator in the field may mean having more risks, but the rewards can be much bigger.
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