5 Ways You Can Stay Ahead in the Competition

3 min readJul 27, 2023

The business market is a highly competitive sector. Hundreds of startups are initiated every year, but only few make it successfully. Economic Times says, “Only 20% of startups can survive for more than five years, and only 8% manage to survive beyond the ten years.” So the odds are not that favorable. But that shouldn’t stop you from trying. You need the correct strategies and team to stay ahead of the curve. Because being successful is not just attaining the top position but also to stay there for a long time. Here are five ways to do so.

1. Be your strongest critic

Analyze your performance every quarter. If things are going better than expected, figure out what’s working for you. If not, identify what’s not working. The critical point is to focus on yourself and not on others. Refrain from thinking negatively about yourself because others are doing well. While competition can be healthy for growth, it can be stressful if not handled correctly. So, try to find out what you should do to reach your competitor’s position. Keep yourself under your scrutiny. Remember that you are here in the business world to serve your consumers.

2. Maintain the image of your company

We live in a time when making a good product or providing quality service is not enough. You need to set up an inclusive environment where people from all communities are welcome. And your clientele need to be aware that you are a brand that welcomes change and creates a safe, inclusive space where all voices are heard. You also need to consider the cause of the environment and work towards reducing carbon footprint. One problematic tweet even by an employee of your company can smudge the good name.

3. Step up your marketing game

The world lives on social media. So you cannot underutilize this opportunity and let it go to waste. No matter what your niche is, make sure you have a separate social media team who is working their best. That is how you find out your audience base and reach out to more people. Get on the latest trends on Instagram and Facebook. Use all formats to their optimum. Use the correct hashtags, follow the right people. Reach out to influencers with their own base and collaborate with them. Create a website of your own and make sure it attracts good traffic. Embrace the best of both worlds: enlist a popular face for your brand on billboards and TV ads to boost recognition and credibility, while integrating traditional methods like print ads and event sponsorships for a comprehensive and impactful marketing strategy.

4. Invest in getting the best team

A skilled and motivated workforce is a tremendous asset in outpacing the competition. Invest in talent acquisition and training programs to attract and retain top performers. Encourage a culture of learning and development, both personally and professionally. Empower your employees to take ownership of their roles and responsibilities, fostering a sense of ownership and dedication.

5. Rely on reviews

Trust your customers to give you the best advice on how to stay ahead in the game. Track what they are saying. Happy customers are likely to become loyal brand advocates and refer others to your business. To enhance customer experience, prioritize personalized interactions, active listening, and quick problem-solving. Leverage customer feedback and data analytics to gain insights into their preferences, pain points, and expectations. By continuously refining and tailoring your offerings to meet customer needs, you will stand out from competitors who may not prioritize customer satisfaction to the same degree.

Apart from these, try to draw a plan as to what you see as your company’s future. Give your loyal customers discounts and privileges that will work in your favor. Staying ahead of the competition requires an ardent and dynamic approach to business.

If you want more of such quick but useful tips, tap here.