In the business world, minimizing the competition may seem like a good idea. Yet research and reality have found that competition actually may strengthen a market for the competing business owners. Studies have found that as competing businesses move closer together, both increase their returns. Think about it: Wal-Mart and Target often will be closer […]
Don’t Panic When a Competitor Comes to Town
You have heard that a competitor is coming to your community. Now what do you do? This is the typical response of most business owners. And, of course, the bigger the competitor, the greater the fear of the new competition. When such rumors start circulating, and after the initial shock, business owners start to wonder […]
