Know our business enemies

in #steemiteducation5 years ago (edited)

Many businessmen believe in the ancient art of war by Sun Tzu and they find many successful results after applying the strategies stated.

In the art of war by Sun Tzu, it was stated that ‘Know your enemy and know yourself and you can fight a hundred battles without disaster’.


Image Source

The strategies in the art of war can be used in many areas in our lives to experience greater success in business or our career.

This article will share some ideas of knowing our business enemies.

Direct business competitors

There are usually many companies who may offer similar products or services.

It is important to know what are the strengths of our competitors so that we can decide our percentage of winning in direct competitions.


Image Source

When our business opponents are too strong for us, we must therefore avoid direct competitions and find alternative ways to market our products or services in other ways.

It also gives us great advantage when we know the weaknesses of our competitors.

We can easily penetrate the specific areas of their weaknesses and consolidate our business ground.

A giant competitor

When we are faced with a giant competitor that we can never defeat on our own.

Some companies may join forces with the other competitors to get that giant down first.

By joining forces, companies can consolidate their resources and manpower.


Image Source

Very often, this may just be temporary partnership unless there are greater benefits that they reap in the process of working together.

A merger is therefore a possible option where smaller companies merge together to survive the fierce market competitions.

In the past, we know of banks or companies that merged to form a greater corporation.

Change of business law

There are times when the greatest impact to our business is due to the change of business law in the country.

Government may decide the need for greater taxations or make certain operations to become illegal.


Image Source

Decisions of government in its building projects can often affect the future plans of companies.

Businessmen must always find ways to know future directions of government in advance so that they can make adjustment to their future plans or channel their local businesses elsewhere.

This ensures that their businesses can stay profitable with awareness of future changes.

Suppliers

Good businessmen must never rely on only one supplier for the raw product that they need.

There are many cases where the sole supplier raises the price of the raw product or decides to stop their supply resulting in serious business crisis.

We need to know our supplier well and we must constantly find alternatives so that we have a backup plan.


Image Source

Just like many steemit members felt the threat when steemit corporation decided to have a downsize of its staff.

As a result, many of them like us decide to join new platforms like whaleshares and weku.

Nevertheless, there are some who choose to stay faithful but diversify does ensure greater chance of survival regardless of possible outcomes.

In conclusion

The importance of knowing our enemies to know the possible threats to our business. In the business world, there is little mercy as everyone wants profit.

There can be many selfish exploitations to survive the cruel competitions.

Some even plant business spies into other companies to ensure that they can always be one step ahead of their competitors.

It is therefore crucial to know every possible enemy that we may have outside and inside our companies.

 




Disclaimer: This is my personal reflection and I am not in any position to instruct anyone what they should do. I am not responsible for any action taken as a result of this post. My post can only be a reference for your further research and growth. By reading this post, you acknowledge and accept that. All images and pictures were taken from google images that are free from copyright under labelled for reuse.

This article was first published on my blog at Whaleshares


Posted from my blog with SteemPress : http://fun2learn.vornix.blog/2019/01/10/know-our-business-enemies/

Coin Marketplace

STEEM 0.28
TRX 0.12
JST 0.034
BTC 63463.10
ETH 3243.17
USDT 1.00
SBD 4.45