As the kids return to school and the business world begins to return to the new way of working, we hope our efforts will help start to lift the economy and that things will begin to look up. But does this mean that the gloves will be off and we’ll be going up against the…
By Ruby Edwards3 min read
As the kids return to school and the business world begins to return to the new way of working, we hope our efforts will help start to lift the economy and that things will begin to look up.
But does this mean that the gloves will be off and we’ll be going up against the competition? No more Mr Nice Guy? Is it time to take on the opposition and fight for your business? These are tough times, so it seems that a lot of businesses are out to prove themselves and make up for lost time.
Indeed, we’re already seeing calls to clients, pitching for the work we’ve been undertaking for years. Cold calls and non-GDPR compliant emails are spamming inboxes with unwanted enquiries. New LinkedIn connections with direct messages for ‘interesting collaborations’. Has the time come to take on the opposition and win back what’s yours?
For sure, these next few months will be crucial in determining the future success of your company and how your competitors will aim to slice off a bigger piece of the pie.
Analyse the numbers
From costings, sales, revenue, prices, and market shares, businesses are all about the figures, so it’s essential to monitor closely how you’ve coped throughout the pandemic, and how things are beginning to change. Start-ups especially may have to do some re-analysing on how they stand in the market and their position alongside their competitors.
However, this doesn’t mean that they’ll need to shy away and give others the chance to flourish. Can they use it as an opportunity to improve on their methods and try out new ways to reach customers perhaps?
Latest figures show that the average workweek has decreased by five hours in the past few months, most likely to enable businesses to keep costs down. As such, they’ll need to explore more flexible ways of working that focus on the activity that delivers the most return.
Play to your strengths
Instead of trying to play an opponent at their own game, could we focus on improving our own unique selling points and doubling down on what makes us great? That leverage is so crucial to finding your niche and making sure you don’t get lost in the shuffle.
Leaning into those strengths will show consumers that you are the better choice and that your competition doesn’t come close.
Keep competitors close
So keep your friends close but your competitors closer. As more and more businesses begin to reopen, it’s crucial to stay aware of what’s going on in your industry to help you stay ahead of the game.
It will be beneficial to keep an eye on their social media channels or any news coverage they might be receiving.
Their approach to post-lockdown life may have an impact on your work, so understanding more about their ploys to get a more significant market share will give you a chance to make your own moves proactively.
Use it as a learning experience
The past few months have been tough for many businesses. But, instead of feeling sorry for yourself, it is much more beneficial to dust yourself off and take it as a learning experience.
Many of us have made the move to at least do some of our working hours at home. In fact, the Office of National Statistics stated that in April 2020, nearly half (46.6%) of people in employment did some of their work from home.
So, what did you learn from working from home? Perhaps there are new ways of communicating that you can take on a full-time basis, or maybe you’ve discovered that the overheads of a full-time office space simply aren’t worth it. Take these new working concepts with you when returning to business as usual.
As seen in our regular business column in the local Pershore Times.
