Part 1 : How can you avoid losing out to your competitors? [BT broadband office]

Part 1 : How can you avoid losing out to your competitors?

Posted 19 February 2008 at 8:21AM by Graham Jarvis in Doing business online

As businesses and people we all have our strengths, our weaknesses our opportunities and threats. It's a tough world, but with the right attitude, technologies, planning and position we can all succeed.

Where is your business now? When you need to begin a journey, the first thing you need to know is your current location. Isn't the same true in business? Mapping out where you are within your commercial environment helps you to position yourself.

Traditional planning tools like a SWOT and PEST analysis are invaluable... perhaps communications and technology might be your main internal weakness? We know that staying ahead of political, economic, social and technological trends can gain you a competitive advantage. Lead rather than follow.

What do I mean by 'Lead rather than follow'? Well, consider this... do you buy a Ferrari just because your neighbour has had the fortune to be able to buy one? Many of us will perhaps aspire to own such a car as this, but that doesn't mean it's the right car for us. Or does it? At the other end of the scale, a Mini or a people carrier might be more appropriate.

The same applies to technology and communications. Implement the kinds of information communications technologies that are right for your business - not because your competitors have a particular kind of database, or whatever the case might be. Isn't it good to be different? I think it's a choice between standing out from the crowd or melding in with it. You could turn a weakness into a strength using the right ICT solutions; ones that deliver benefits to your organisation, your suppliers and your customers.

How about delivering a higher quality of customer service than your competitors, having a more informative website, or being easy to contact and more responsive to customer queries than they are? Innovation is often the key to staying ahead of the game.

Perhaps you could use a new or old technology in a way that your competitors aren't doing? You could use social networking sites like BT Tradespace, and other social networks, to promote your business; or allow customers to contact you anytime of the day, no matter where you are.

How are you avoiding losing out to your competitors? I'd like to hear your tips and views over on the BT Cisco community, on how the convergence of technology is making you more competitive. You can also read "Part 2" there as well!

Tags: bt, bt tradespace, bt tradespace communities, cisco, social networking

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Comments

1. At February 19, 2008 11:51 AM, Meriadoc Brandybuck wrote:

Eventually a good post by BT

2. At February 19, 2008 4:41 PM, J G Dawson wrote:

Anyone who believes that the 'covergence of technology' is going to make them more competitive must be under 16 and living on the planet Zog - Talking-up pointless technology aside - anyone over 30 knows full well that the best way to beat the competition is to become 'your own best competitor' - and if you don't understand what this means all the technology convergence in the world won't keep you out of clink...the little grey cells are still the best computer and the best businessmen in my experience don't rely on anything else - it's how they got their first Ferrari...

3. At February 22, 2008 10:14 AM, Anjanesh wrote:

Dawson ,
While technology is not a replacement for sound business practises built along traditional lines, anyone who does'nt believ in technology convergence is'nt going to be last long in this highly competitive world.

Being your best competitor is always a great thing and convergence can help this by bringing lower time scales at cheaper costs - isn't that what business is all about ?

Michael Dell brough his first Porchse (in cash )with this concept beating the traditional retail model of IBM using innovative business practise and technology. Toyota did that with its flexible production system.

Wal-Mart created history with just in time deliveries based on a supplier tie-in system.

Technology and convergence of technology does not substitute grey cells ,no - but it certainly provided better flexibility and reach in a highly competitive world. Those who do not realise this will eventually loose out.

And by the way most echnically innovative minds are aged 16.

BT broadband office