How To Lose Competitive Edge And Destroy Your Business

The purpose of this article is to point out what are some of the most common traits for losing competitive edge over competitors and by doing so greatly reducing business success likelihoods. My intention is not to provide you with complex terminology but rather simple to understand behaviour characteristics that if let alone and inappropriately addressed could even destroy both your business and its reputation.

So let’s dive into this sensitive area:

Being Ignorant Vs. Being Curious

This is the early success trap that so many SMEs, entrepreneurs, business owners are struggling with. Pat Riley, the famous basketball coach, once said:

Excellence is the gradual result of always striving to do better.

I would feel free to add that being excellent in anything is a purely a mind game. Everything in life starts within your head, flows to attitude and ends with actions or inactions. Therefore, curiosity always triumphs over ignorance. When, curious, people tend to learn, apply, contribute more. By doing so they become more and produce greater impact. Put it simple, you as a leader, can’t afford ignorance. Your future depends on it!

Falling In Love With Your Own Methodology Vs. Continually Assessing Its Competitiveness And Appeal

You see, we all heard the old one from time to time. “This is how we do things here”. Seldom this is followed by “Why is this so? Or, “Is this the absolutely best way of doing it?” Critical to understand here is that no matter how things are working for you in your business at the moment, there is always something that could be done better. In addition, what would marketplace say about your improvement efforts? How would you know what they think?

Being A Follower Vs. Being Trend Setter

Today, more than ever before, organisations will struggle to differentiate themselves. Fierce competition, congested and saturated marketplace, lack of funding inability to preserve and capitalise on R&D efforts, inability to monetise on first mover attempts are just some of the main strategic questions that will need your full attention. However, being a leader in something doesn’t mean that you need to come up with the idea for a new Facebook. The truth is far from it. You need to establish a long term growth plan and stick to it. It is a journey not the event. If you do so, opportunity will present itself and you will leap your competitors and become a trend setter.

Failing To Invest in Continuous Improvement And Development Vs. Creating Resources And Future Positioning By Being Resourceful

If you are not getting better your are getting worse is another Pat Riley’s observation. And this is so true in this overly competitive environment. For your business to become better and more successful, you must become resourceful, strategic and devoted. Attitude towards development and growth is the only way to stay competitive and attractive to your prospects.

Being Tactical And Chasing Sometimes Wrong Objectives Vs Being Strategic And Visionary About Your Future Knowing What Really Matters

You must be absolutely clear with your most important objectives. When you are chasing one great lucky break that will solve all your problems your chances for success are very slim. The greatest business of modern era did not start big, however they built on strengths, leverage, scale it up and by doing so positioned themselves to exploit all technological advantages and market demands. They were clear about what is missing that if provided can and would make a difference. Where most people are getting it wrong is accurate reality assessment. They think they reality is much better or much worse than it is and by doing so either reduce their Vision or overwhelm themselves. This leads to procrastination or delays in project delivery. You probably heard about “It is not the right time”, “If I could have this that may force me into productive state”, ” I am not good enough, but after this program I am going to…”. You must brake this pattern. Remember always that every breakthrough is actually follow up on some important break-with.

Invest Safely With Gold Buffalo Proof Coins

Gold buffalo proof coins are pure 24 carat gold coins, which are 99.9999% pure. Starting this July, the American government will be releasing proof coins of such high purity for the first time for sale to public. These coins are very good investments. Mutual funds and shares may raise and fall with the ever fluctuating markets, banks may rise and fall at any time without a warning. But what remains constant and forever in demand is gold. Due to the fluctuations in the market every day, people are very unsure about where to invest. This has increased the demand and price of gold greatly.

Gold buffalo proof coins are called so because they bear a bison’s image on one side of the coin. The coin bears a face value of $50. Of course, its real value is presently around $1410 and it keeps appreciating. Gold is a very scarce resource and to polish it to the level of 99.9999% purity requires a lot of work. Thus, you can rest assured that any coins you purchase, they will never lose their value.
There are many sites selling these coins online. It is a bad idea to buy coins from individuals, who say they are giving it for low prices. Always go to trusted companies as the chances of getting cheated by them are much lower. Always demand for the papers and proofs indicating the authenticity of the coins. If possible, have it looked over by an expert.

Gold coins can be melted later, when the time is right to make jewellery. You could save a lot of money this way as you will have to pay only for the making charges. They are also incredible gifts – a sign of deep bondage and love. You could give it to your godchild, nephew or niece at their christening. They can also be given as gifts to any loved member of your family, to whom you would like to express your deep affection. Gold buffalo proof coins can always be tested for credibility – look for the “W” sign at the bottom.

A Talent for Speaking Is Essential for Business

It is a fact that no matter what type of business you are in, you will eventually have to deal with people personally. Speaking to clients, employees, and colleagues is essential to a successful business, but is not exactly easy when the subject is a difficult one. Things like having to fire an employee or bargaining for a contract with a supplier may be tougher than most average people realize. Such situations not only require tact, but also require a strong stance and sometimes even cunning and wit. Many people are too shy or timid to handle face to face speaking very well, and those types never make it far in the business world. To be a true leader one must have a commanding presence and the confidence to do whatever is needed of him or her. Being a talented speaker is something few of us are born with, and most of us have to hone such an ability through practice over time. Regardless of how one gains the ability to be a talented speaker, once it is attained it will help them in every facet of business. A talented orator can really motivate his employees when needed, and will do well when dealing with clients or contractors. The biggest part of any good business is the people involved in it, and if one can communicate well, they will find themselves richer for it.

It is a well known fact that all of the best business people in the world are also great motivators and talkers. They all have great public personalities, and exude a great deal of charisma whenever they speak. Most people like such people because of their positive appearance and their way with words. When in a corporate situation these leaders are strong in their convictions, and are able to motivate others to get the job done right. It is pretty easy to see why such a skill is essential to getting to the top, and staying there! As a business owner or operator, one should try their best to become comfortable with speaking with eloquence and tact, and hopefully speaking in public or to crowds. Those seemingly simple skills, are not easy to develop if one is unwilling or unsure. However, their worth for business and life is almost immeasurable.

If you were to look at the successful people throughout history and thoroughly analyze their best abilities, you would notice that at the top of the list of abilities that most of them possessed would be talented speaking. Speaking on the personal level is truly important, but most successful people will also be good at public speaking or speaking to large groups. As a business owner you will eventually need to motivate your staff, whether you are a small business of less than ten employees or the owner of a huge company with over a hundred employees. Motivational speaking is something that should be a skill in your arsenal as a business person, but if you do not possess the ability yourself, you will need to seek out others who do. Hiring such a person will allow you to focus more on the other aspects of your business, while still keeping your employees motivated and sure of themselves. It is a very good idea to have a company seminar at least once a year where everyone in your company can get together and talk about the state of the business, and where there will be motivational speaking for the year ahead. While it is best if you the owner can handle this to at least some extent, hiring out a paid motivational speaker can be a good investment in the success of the following years.