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Time For A Facts Audit.(A)(IBD 10 SECRETS TO SUCCESS)
Byline: Cord Cooper
1To expand your market niche, ask the tough questions. Then fine-tune strategy and product lines based on honest answers.
Gather your team's best and brightest, Brian Tracy suggests in "Victory," and home in on the following:
** Differentiation. How is your product or service superior to rivals? Do you have an ad campaign that sells that difference consistently, with clear and powerful comparisons? Or do you advertise sporadically, with cryptic, unclear messages?
"What is your competitive advantage? What will it be in the future if you don't make any changes? What should it be if you want to dominate your market or another market?" Tracy asked.
** Competition and strategy. Tracy quoted this military axiom: "No strategy ever survives first contact with the enemy."
If you make a move that one-ups rivals, sooner or later they'll copy you. When they do, how will you stay a step ahead? Anticipate competitors' moves, have plans in place to deal with them and be ready to strike at a moment's notice.
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