Every company has enemies. We’re not just talking about your direct competition, but the companies that have it out for you. Perhaps you have a corner of the market they want, or they want to steal your clients.
Knowing how to identify business enemies is an important part of staying in business. You’ll need to recognize those enemies in order to stop them from stealing your clients or suppliers. Here is how you can identify your business enemies:
Look for Aggression
If there is a new company on the market, they will likely work hard to promote their services in your area. However, if they are aggressively going out of their way to take your clients or undercut your prices, it’s a sign that they’re out to get you. A certain amount of underselling is normal, but steep discounts ONLY for your clients is bad business practice.
Find those Who are Too Friendly
If your business competitor is being too friendly, particularly to your face, it’s a sign that they’re preparing to stab you in the back. You can expect a certain amount of professional courtesy from the competition, but too much friendliness is a bad sign. They are the "smiling assassin" that will steal your clients or market share when you trust them.
Watch for Empty Promises
A smooth con-man knows how to promise the world in exchange for favors or compensation, and then steal your hard-earned valuables. If a company offers to exchange client lists, offer mutually beneficial services, or do something that seems too good to be true, it almost always is!
Keep an Eye out for Open Hostility
Some companies make no secret of the fact that they are out to get you. They may bash you online or on social media, or they may produce advertisements and marketing campaigns that slander you. Open hostility is a sure sign that you have a business enemy.
Beware of Being Your Own Worst Enemy
Sometimes, companies make choices that set them up for failure. Producing poor-quality products, raising prices too high, or providing poor customer service are just a few of the mistakes that will make it all too easy for your enemies to swoop in and steal your clients. Make sure that you are delivering the best quality product at the best price and be certain that your customers are happy with your services. It’s the only way to ensure that your enemies have no ground to stand on.
It may be hard to tell legitimate competition apart from your business enemies, but you need to be smart as you assess a company’s threat. Examine their products and services to see if they are in direct competition with yours, and take a look at how they go about promoting/marketing their offerings. A smart professional stays abreast of the competition’s moves, so keep an ear to the ground and follow what’s going on with those who could one day become your business enemies!