5 Ways Competition Is Good For Business

While there isn’t a magic formula to outpace a competitor here are 5 ways you can benefit from your competition and at the same time give your business a boost.

It’s no surprise that customer service is #1.

Customer Service

Home inspectors offer very similar services – they compete for customers. Improved customer service leads to loyal followers and leads to the best marketing available – word of mouth.

Innovation

Competition leads to innovation. If you’re the only inspector in your area it’ll be difficult to improve. And if you’re working in a crowded market, you won’t succeed by doing what everyone else does. Healthy competition encourages change.

Complacency

Competition shakes off complacency. If your inspection company is consistently trying to innovate and better itself, you’ll be encouraged to push yourself – leave complacency to a rock.

Understanding Your Market

Competition forces you to focus on your core audience. Inspectors target local markets and your competition will encourage you to better understand that setting.

Education

Watching your competitors do well can teach you things about your business. Their practices will provide you with valuable insight into the state of the market, and help show you what works – and – more importantly – if pay attention – what doesn’t.