Some of the characters that make a business stay competitive

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1) Consistency
What ever business you’re involved in, your product and service should meet a certain standard and stay consistent. Hence, you have to supervise your business minute by minute to make sure that things are done accordingly as always.

2) Do not mess with ad expenses
When your business starts picking up and people start using it at large, don’t think avoiding expenses on advertisement will not change anything. It certainly does! Surely other entrepreneurs who see your success duplicate your service and compete with you in the market. You have to always remind people your service exists and it’s consistent as always

3) Innovation
You have to be always open to improvement and innovation. Come up with a better way to conduct your business and be consistent executing them. Facebook is a good example. The daily operation is consistent and customers do not encounter unusual malfunction. But you see them changing layouts according to surveys they conduct to better serve their customers.

4) Stick to what works
You might enjoy doing some portion of your business but hate the other. Regardless, stick to the business model that works well. If you have a cafe and the highest selling product is tea, do not waste your time pushing other products on people while the tea is the gold pot. You might introduce others products just to try which one works in parallel with your winning product, which is the tea but do not be a hero and disregard what’s pulling tons of cash.

By: Gedi Yitbarek