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6 ways to stay ahead of the crowd

As more and more people seek to get out of the corporate world and starting their own small businesses, we see a great desire for these entrepreneurs to stand out above their competitors.This can pose quite a challenge to those who have a limited budget.However, by taking the time necessary to research your market, knowing your customers, and following a strategic plan, you can successfully outdistance your competition.Here are six ways that you can stay above the crowd in your niche market:

1.Know what your competition is doing.
You will want to keep yourself updated on what the current industry trends are.You will also want to know what plans your competition has for the future.This type of information is found in business models, online newsrooms, marketing materials and annual reports.Review this information carefully and then consider strategic activities to pursue what the competition has missed.
By constantly being aware of your competition's activities and projections, you can put yourself in a position to develop unique ideas and services that will keep your business two steps ahead.

2. Know what your customers want.
Get regular feedback from your customers so that you can better serve their interests.They can tell you exactly what they want now and how you can make improvements for future offerings.Some ideas for getting feedback from customers include:
- Set up an online chat room or group discussion
- Create a survey
- Develop a contest
As you continually get feedback from your customers, you will be able to offer valuable goods and services that will increase sales now and in the future.Track the feedback that you receive and share these ideas with your team to make appropriate changes.

3.Know what technology is available to help you perform efficiently
Educate yourself on what is available for your particular business.Technology that may be useful to many businesses include new software tools to help with accounting, customer relations, marketing, and more are affordable ways to increase productivity.
To keep current on what is available to small business owners, read business, marketing and industry-related publications to constantly hone your skills.Also, be aware of your surroundings.You can often see things on television commercials, print advertisements, news announcements, and current events that trigger creative, innovative ideas and solutions to problems in your industry.

4.Know who can help you.
Hire a team of energetic people who care about the growth of your business. Constantly motivate them to do well and reward excellence.Your team can include employees, investors, your attorney, your accountant, and any other professional services that you may need based on your industry, or people that have a genuine interest in the success of your company.

5.Develop an action plan
Review all of the information and figure out regular activities that will keep your team on top of the market and to spark creativity.Develop some activities that can be done on a daily, weekly, monthly and annual basis to stay ahead of the competition.Write down specific actions to determine what steps are necessary to reach goals.Consider having regular employee brainstorming sessions, attend various tradeshows, participate in online seminars, provide customer-appreciation events, or give presentations to targeted audiences.

6.Be aggressive
Have a good work ethic and be willing to do whatever it takes to promote your business.If you want to stay ahead of the crowd, there is no room for slacking off, because that is when your competition will seize the opportunity to move ahead quickly and steal potential customers.

In summary, by conducting research, knowing what your customers want and following a strategic plan, you can stay ahead of the crowd.

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