Charlie . 19th Dec, 2024 7:06 AM
What happens when businesses compete? Is apart of the Lets Talk Business Revenue Series.
Lets get it started with saying competition is natural. There will be a winner and looser daily, weekly, monthly, quarterly, and annually when business compete with each other. An example is NBA vs NFL on Christmas Day. It has been reports that the NBA viewership is down and the NFL is up. On Christmas Day a business owner I know whose business is primarily basketball is attending a NFL Game. In the past the business owner attention would of been on basketball not football. The NFL has over took the NBA on Christmas Day. These two organizations compete for eye balls to satisfy their advertisers and media partners. Loosing to your competition in business can have an negative effect on your revenue. How long can your business sustain being the looser? What will you do as a business owner to keep the doors from closing? If those doors close on your business will you be okay will your stakeholders be okay like your employees? Did you prepare for a down cycle? Will your business survive a daily, weekly, monthly, quarterly, or annually revenue decline because of your competitor? Thanks for your time. Power-Up!
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