Identify and observe your competition. Find out about their strengths
Learn from your competitors.
Having competitors is no bad thing.
Their very existence proves that there is a market for your
products or services.
Observe how they run their business. Look for aspects of their
business that you could adopt and those that could be improved.
Don't assume that offering your products / services at a lower
price than them will automatically win their customers. Competitors
Try to predict how your competitors would respond to the birth
of your business.
Never 'bad mouth' your competition.
It is advisable to enlighten potential customers about the
positive differences between your products/ services and those
of your competitors.
However, one should never attempt to win custom by bad mouthing
your competition. The process of 'blowing out their candle to
make yours shine brighter' often backfires and loses the customer's
You can be sure that your competitors will find out if your
allegations make a serious dent in their sales and, unfounded
or not, retaliation can sometimes follow.