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Keep your eye on the ball
1.
2. The problem with complacency
When you’ve been in business for a long time
and have been fortunate to have had growth
and success, it’s easy to get complacent and
feel secure.
www.chroniclelive.co.uk
3. You should always be aware of your competition, no
matter how small fry they may seem.
The problem with complacency
4. The underdogs: Leicester City
FC
A year ago, their sporting rivals wouldn’t
have seen them as a threat but now they’re
champions of the Premier League.
www.thetelegraph.co.uk
5.
6. Learn from competitors
I have said time and time again that learning from
others is key in business development, and that
means learning from our competitors too.
7. • Many teams have
attempted to emulate
Barcelona’s unique ‘tiki-
taka’ style.
• This is not to say you
should copy your
competitors, but it is
useful to emulate certain
things they do.
Learn from competitors
8. • New businesses
may do things in a
way your business
hasn’t thought of.
• For example, they
may market their
business in a
different way to
yours.
Learn from competitors
See everything they do not as a
threat, but as a learning
opportunity.
9. Play to your strengths
A new business
will likely do
certain things
better than you,
but there are
some elements of
your business that
will be stronger.
Assess what your business’
strengths are and accelerate them.
10. Is your product knowledge better than your
competitors, for example? Expand that
knowledge and get even stronger.
Play to your strengths
11. Leicester used one of their biggest strengths to overtake their
competitors; teamwork. Many big teams rely on the skills of
individuals, such as Messi, but Leicester pooled all their team
members’ talents together.
Play to your strengths
12. • They knew each
other’s strengths and
worked with them.
• It’s the same in
business. Know what
team members are
good at what and
bring out the best in
them.
Play to your strengths
13. Work with competitors
Many businesses fail to see the value in partnering up
with a competitor.
Last year, I published a blog on strategic alliances where I
discussed the benefits of teaming up with another
business.
14. Work with competitors
By joining forces with
a like-minded
business, you will not
only immediately lose
them as a direct
competitor, but you
will also be creating a
competitive
advantage over other
similar businesses by
the pooling of both
businesses’ resources
and skills.
15. It sounds obvious but if your leadership isn’t effective,
you will fall behind competitors.
Be a good leader
16. A good leader will bring the best out in their team. Leicester
had a great leader in Ranieri. He encouraged them to believe
they could achieve the so-called impossible and ‘seek that fire’.
Any effective leader should believe in their employees and
push them to do their best.
Be a good leader
www.skysports.com
17. Don’t rest on your laurels;
keep an eye on your
competitors and the goals
you need your business to
achieve.
Twitter: @pathwaygroup LinkedIn: The Pathway Group (Workforce Solutions)
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