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The Theory Of Pointing Your Rival's Loop-Holes

The Theory Of Figuring Out Your Rivals Loop-Holes

 

Business is the best profession i know in this world.Nothing is more satisfactory than having your own business.The best thing you know about a business is that,"You will never get bored,as there is always a cut-throat competition."Ever in the history when a businessman felt that his company is at the top,then at that moment another rival surpasses him with the reminder that,'It is not the game of winning,it is the game of continuing'.

Charles Darwin said that,''It is not the strongest of the species that survives,nor the most intelligent that survives.It is the one that is most adaptable to change". The same applies to business as well.

It is not that a wealthy person or a smarter person will always lead in the business,but the person who continues and updates his business in all odd situations leads.

Why Business's Fails?

The Theory Of Figuring Out Your Rivals Loop-Holes

 

Though business is the most satisfactory profession in the world,but haven't you seen business's going down?-Yes,many times we come across such news in our friend or family circle that their business failed due to tough competition.
What is the solution for such situation?-The answer is very simple"Carry on and update your business and never stop".
Hey, what does "Updating a business means?"-Business is just like a system software that needs changes as users(in business customers)demands.Updating a business means meeting the needs and demands of our customers,providing them the best price and maintaining the quality of our products that we produce or sell.
Actually a business fail not because it has no scope in the market,but because it has many similar or exact rival's or a few rival's with tough competition.

Business With Many rival's.

The Theory Of Figuring Out Your Rivals Loop-Holes

 

If you are in a business with many rivals in it;do not worry you can easily get yourself a successful business in that field by just keeping your business updated and as customer friendly as possible.
Basically,in such business's with many small and scattered rivals all around,the best thing you could do to attract customer's attraction towards your shop/farm is to increase the quality and if possible quantity too at the same price that your rival's are maintaining.
However,if you are in such a business where you can neither decrease the price,nor increase the quantity then the best thing you could do is to provide the best customer service in terms of meeting their demands or queries.
The above two rules are sufficient for any business with many rival's to succeed and carry on in the market.

Business With Few But Strong Rival's.

The Theory Of Figuring Out Your Rivals Loop-Holes

 

 Hey now here come's the concept of "The Theory Of Figuring Out Your Rivals Loop-Holes".
Now the biggest question is that,"What does it means?".
If you are in a business with few but strong rivals,then it clearly means that the product or service you give is really very important and not everyone can afford to start such a business.So,in one hand you are safe from getting a bunch of rivals(which is really very annoying,as you have to keep an eye on each and every rivals),but at the same time on the other hand you now have only few rivals which are either very giant or at your level and they keep on updating themselves and attracting the customers towards them.
The first conclusion in such a business with less competitor is that it requires huge investment,means if you are there then you are rich enough and the same goes with your rivals.So,here money does not matter.You can invest on your showroom or company and give it a 5 star look,but this would not decrease the competition because the similar response will come from the other side too.
So,now the only thing you could do is to figure-out the loop-holes in your rivals business and make it your strength(and it will surely defame your rivals business).

For example: If you have a business of Event Management,then you can't afford to give an extraordinary from the client's given budget,as you can't and will surely not put anything from your pocket and if you do so,then it would be a non-sense act.So,here what you can do is to provide such facilities or service that your rivals aren't providing.
Suppose your rival is not providing video recording facility(through drone or whatever) for the event from their side..grab this point and make it an opportunity and include this service in your list and highlight it as much as possible.This would surely attract a lot of customers towards you.

What if our rivals update themselves from the pointed loop-hole?

Hmmm.the question is very genuine and comes in every mind.Suppose in the previous situation where you were the owner of a company thet provides the service of event management and you have a few but strong rivals.But,you followed the strategy of "The Theory Of Figuring Out Your Rivals Loop-Holes"and figured out a loop-hole that your rival do not include video recording facility in their event and you very smartly included this service and highlighted it too.
But now as your video recording service made a huge engagement then your rivals too updated themselves with this service.So,now what to do?
See if you are in a business then you must know the basic nature of  market and your customers.The very first and most important thing is that 'never a market settles nor the demands and requirements of your customers'. So,each time you think you are updated with every single need of the customer,a new need comes in the market.
So,go on never settle,keep on updating your business and surely you would have a very successful business in the market.

The Successful Market Exit Rule.