Tip of the Week

June 13, 2007

Tip of the Week logo

Have you ever noticed that Home Depot locations are within a mile or two of a Lowe’s store? Or that when you see a McDonald's it’s usually within several blocks of a Burger King? These companies recognize that business success often results when you emulate your competitors’ best business practices. In a retail environment, this means location. Similarly, you need to determine what your competitors’ best practices are in your environment.

Start out by clearly identifying who your chief competition is in the marketplace. Ask your customers and prospects what they like about your competitors. Remember also to ask what your competitors need to do in order to improve their services. When you know how to evaluate the strengths and weaknesses of your competitors (regarding such issues as their pricing, product offerings and installation practices) then you will know how to sell against them when meeting with potential customers.

This week's tip contributed by Simonton Windows. Contact Kathy Ziprik, 304/428-1856 or kziprik@aol.com.