Imagine it’s a battle, yeah? How well do you know your competitors? In the fiercely competitive business world, achieving success requires more than just offering a great product or service. To truly stand out, you must master the art of competitor analysis—systematically studying and understanding their rivals. This strategy isn’t merely about staying informed; it’s about leveraging insights to outmanoeuvre the competition and secure a dominant market position. So, you see why I asked the question in the title.

While you ensure that you make profit, hope your prices aren’t above the industry standard.

1. While at that, hope your quality isn’t also below industry standard?
2. Are you putting yourself and/or your business out in the open by adopting the right advertising and marketing techniques?
3. Is your website or your mobile app up to date?
4. Is your LinkedIn, Instagram, X, and WhatsApp profile updated regularly?

Also check in and evaluate how your communication with your customers has been. Have you been responding to your customers promptly? Are they satisfied with your services? Even your most unruly customers.

Just a reminder to evaluate your service delivery, because one happy customer is sure to bring one extra customer who is very likely to bring one extra customer.