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Your goal as a successful business owner is to develop a unique concept that sets you apart from the competition, that is, other companies that do the same thing. What can you provide that they don't? Find your specialty and ask yourself these questions:
- Is my idea practical?
- What other companies are in the same business?
- How do my competitors get and keep customers?
- What can I do better than others with the same product/service?
- How can I make people want to use my product/service?
Your competitors may not always be who you think they are. If you bake and sell cookies, your direct competitors are other brands of cookies. But what about candy bars, cakes, pies, popcorn, peanuts, and other snacks? The person looking for something sweet to eat may choose ice cream over your cookies when hunger strikes.
Do what some other Brooklyn-based business owners have done: Visit competitors' stores and see first-hand what they're doing. Perhaps light bulbs will go off in your head with just the spin you need to make your business unique.
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©2005 Brooklyn Public Library
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