Keeping up with the trends

Discussion in 'Business and Economy' started by tulip, Feb 7, 2017.

  1. tulip

    tulip Kenya Member

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    You'll agree with me that a lot has changed over the years and new things keep coming up. How do you keep track of new developments in the business world? I try to read as much as I can. Does checking out what a competitor is doing, help?
     
  2. Simone

    Simone South Africa Member

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    I think that helps very much! The fact is that we do need to keep informed on what our competitors are doing so that we know we're not far off track as far as our business or niche goes.
     
  3. marsh

    marsh Kenya Member

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    As a business or company, there must be a deliberate attempt to be updated so as to remain relevant. Benchmarking is a concept that many organizations indulge in and it helps when we are keenly staying abreast of what the competitors are doing.
     
  4. ritchie

    ritchie Kenya Member

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    I think it reaches a point where you have to delegate some of the roles like staying updated with new developments. You can't be a business owner and still expect to do all these things alone. Above all, you have to capitalise on mistakes or lapses in a competitor's business.
     
  5. Britney

    Britney South Africa Member

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    There is a vast difference between working on your business and working in your business. If you want to grow then you have to work on your business and stop wasting time doing stuff that you can delegate easily and use your time to keep up to date with other developments in your industry.
     
  6. Swisslist

    Swisslist United States Member

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    There is a saying in the American military that applies here: "Keep your friends close and your enemies closer". The "enemy" here being the competition. Keeping daily tabs on what they are doing should be the first thing you do.
     
  7. prasanna kumar

    prasanna kumar India Member

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    Yes it would be very wise to keep track of your competitors,this is the strategy of all big businesses, they place a high priority on collecting information about their competitors. some times instead of wasting time on developing new marketing strategies it would be effective to move in the counter direction of your competitors.
     
  8. tulip

    tulip Kenya Member

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    The irony is that every time you'll be keeping a close eye on your competitors, they'll most probably be doing the same on you. In light of this, there's a need to outsmart their every move and make sure that you are on top of things.
     
  9. Saki

    Saki United States Member

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    I think that yes, looking at what your competitors are doing is a way to keep up with trends. However, I'm also sure that there are forums that you can find.