From the course: Leading a Small Business through a Crisis
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Analyze the competition and your strategies during uncertain times
From the course: Leading a Small Business through a Crisis
Analyze the competition and your strategies during uncertain times
- As scary as uncertain times can be in business, remember someone has been exactly where you are before. This might not be the time to come up with new solutions to age-old problems. A great way to solve problems during a time of crisis is to study what other people are doing. You're going to want to identify close competitors or like-minded companies. A great way to do this is using social media. You can use hashtags on Instagram or Facebook to find other companies that are just like yours. And remember, they don't have to be anywhere near you. They can be anywhere in the world as long as they're offering a product or service that is very similar to yours. You're going to want to study everything that they're doing, communications, product offerings, study it all. Sign up for their email list. Follow them on socials. Look at each and every piece of communication that they're putting out. You're going to want to look for…
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