Everyone has heard the old proverb: “All's fair in love and war.” For this quick idea, we add a third term: “All's fair in love, war, and competition for customers.” If you are going to compete in the marketplace, you must know what your competition is doing. There are three kinds of people who compete: the active, the reactive, and the inactive. Only the active will win the competitive wars in the days ahead.
ACTION ITEM
Be active! Ask all your friends, employees, sales reps, colleagues, and industry contacts to bring you materials and keep you up to date on what the competition is doing.
If you ask Dorothy what is going on with her competitors, not only can she tell you, she can show you. She has a file on each competitor, and she makes a daily effort to keep up with what they are doing. She has a network of informants who keep her advised and bring her catalogues, price sheets, promotional information, and the kinds of details she needs. There is no way you can have a good strategic program to get new customers unless you know what your competition is doing. If you are inactive or reactive, make a decision today to become active.
TAKEAWAY
Fairness is in the eye of the beholder. Do whatever
it takes to learn what your competition is
doing—as long as it's honest and morally right.