These seven Strategies for beating your business competitors will help keep you ahead of the game in business
Any business adviser worth their salt will tell you that the key to entrepreneurial success lies in how well you understand your customer.
But perhaps even more critical to this for a business-owner, says Kobus Engelbrecht, Head of Marketing for Sanlam Business Market, is understanding your competitive landscape and how your target market responds to other businesses that provide similar services.
Understanding what your competitors are doing will enable you to position your unique selling proposition to plug gaps in the market.
Identify your main competitors: There is no one-fit formula for this; it is a case of knowing your industry and using all possible resources to extract information.
2. Find out everything you can about the competition: Understand each
competitor’s offering, benefits and USPs.
3. Don’t underestimate industry newcomers: You run the risk of being blindsided if you have the mistaken belief that new players can’t and won’t disrupt your business.4.
4. Take every opportunity to network: Networking is as much about identifying your competitors as it is about finding complementary ways to leverage off other people’s strengths and connections.
5. If your competitor is outperforming your business, ask why: If you’re losing customers to the competition, take a deep look at your business strategy from a client’s perspective and ask what barriers are preventing your growth.
6. Make decisions that make sense for your business: While it is all very well to copy the competition, the decisions you make need to benefit your business. For example, a competitor’s pricing model may not work for you.
7. Consider the industry: Your industry plays a part in determining your competitive edge, but there are some general ways to boost all companies’ market visibility, including social media, a user-friendly, modern website and SEO strategy for improved Google rankings.
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I receive Google Alerts daily so I have decided to share with those who are registered as Subscribers on my site. I urge you to do so. Once done I will check the veracity of the registration as I am being plagued by persons who attack my site with unsuitable comments.
South African power utility Eskom has on Friday, been welcomed back to the … on November 9 and 10 , to garner investor support and trust for the company. … Mohale said that business believes in South Africa’sfuture and wants to …
With the support of the China-Africa Development Fund, the FAW Group has set up an assembly plant in Coega, South Africa, with its first commercial …
Now for something completely different.
At last! A Simple Step By Step Sales And Marketing System That Anyone Can Apply To Their Business – No Matter What Your Experience, No Matter What Product Or Service You Sell, And No Matter How Fierce The Competition Is…
Maybe you’ve always wanted to live on the moon but didn’t think it was possible. Well, think again. Although NASA has placed astronauts on the surface of the moon on six occasions, they didn’t stay there for more than three days because of the dangers .
More on the Xtreme Business program.
“How To EXPLODE Your Sales And Profits, Get Customers By The Bucketful, And Keep Them Coming Back For More” The Xtreme Business Program ™ is the first program of its kind that acts like your personal mentor and fast tracks you and your business to reach your goals and aspirations. You, yes you, can do it when you follow this ‘paint-by-numbers’ Program…
Appoint one of our experienced advisors to mentor you through this 3-month program and see how your turnover and profits climb drastically.
The 10 Most Valuable Global Brands; Click on the graphic to see the full article.
If you require assistance in your branding efforts please contact Gloria to set up an appointment for the New Year
So what is a Global Brand?In a recent newsletter from Lehigh University
In a recent newsletter from Lehigh University, the question was posed to Professor David Griffith.
So, what is a global brand? Is Coca Cola a global brand, U.S. brand or a local brand? Would a consumer in the U.S. relate to it the same as a consumer in India?
The 10 Most Valuable Global Brands in 2017
David A. Griffith, a professor of marketing, recently joined Lehigh’s College of Business and Economics as the Chair of the Department of Marketing. Made the following comments:
“Brands have become increasingly curious and confusing. What we have been discovering is that consumers relate in very different ways to brands. While one consumer may view a brand as being global, another may view that same brand as being local (or domestic). We’re seeing a great deal of research working to understand how consumers relate to brands. Much of this research has focused on the issue of global vs. local, “glocal” brands and regional brands. “Glocal” brands can be considered a global brand that has worked to localize themselves by creating a strong connection to the local markets that they serve. In essence, they have worked toward the “think global, act local” philosophy.” says Griffith.
If you need a consultant to work with you to develop your brand please contact us.
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The MJF GROUP.
The MJF GROUP provides Business Advisory Services and Support to the CEO, under the banner of MJF Group (Business Support to the CEO).
Our Group solves problems, being experienced by CEO’s, across a range of demanding and complex disciplines and industry sectors,
We bring a unique, cross-disciplinary approach to clients’ challenges, ensuring the right balance of ability and real-world experience, which includes; strategy, marketing, sales, business planning, accounting services and funding applications, health information management, organisational ability, executive talent development and performance and digital strategy.
Who We are.
A Sole proprietary business was started by Dr M J Freestone in 2004. It included a JV with an accounting service business called Riverstone Accounting Payroll and Statutory Services (RAPSS). By end 2016 RAPSS services were brought under the banner of The MJF Group.
In 2014 the sole proprietor, which was now a Group of companies added to its list of professional services by opening an Australian Branch, which incorporates Executive Recruitment and Leadership profiling,
This broadened our services to include Information Management to the Health sector by amalgamating with DataProComms (Pty) Ltd Australia; run by Dr D Freestone Doctor of Philosophy (Public Health).
We created a UK Company; Interco Training and Development Limited, run by Mr RB Freestone. This company provides soft skill training for micro to small business in Hull and offers them access to a funding portal run in conjunction with Sterling Capital Limited.
The adoption of Australia and the United Kingdom into the MJF Group brings together 85 years of senior executive knowledge and experience in the Freestone family with 38 years joint management consulting experience across three continents.
Industry Sectors Served
This enables us to offer clients a complete suite of consulting and advisory services into key industry and services sectors such as:
textiles specifically under manufacturing
Companies in Group
M J Freestone Business Consulting Services cc trading as MJF GROUP.
Interco Training and Development Ltd
South African Mining and Exploration Company (SAMEC)cc
Business and Advisory Soft Skills cc t/a as BASS cc.
DataproComms (Pty) Ltd Melbourne Australia (Pty) Ltd
The company is incorporated in South Africa as a Close Corporation; In Australia as a (Pty) Ltd; In the UK as a PLC.
What Methods Do We Use?
Business Support Program
Created as a Business Advisory Service, offering Strategy, Marketing, Sales, Operational, Business Planning and Funding Applications support to the busy CEO leaving him to focus on the key issues affecting their businesses today. We have done this for the past 14 years and have worked with CEO’s to Improve Productivity, increase their Sales, by as much as 179% and bottoms lines by over 50%.
Utilizing our proprietary tools assists in understanding the condition of the business and what needs to be done to uncover hidden profits.
AQL Business Diagnostics
7 Step Diagnostic for the CEO.
DISC for our registered Clients.
Primary Business Health Check
Performance Toolkit V2.
GE Matrix Chart (Modified)
Sales Forecasting 5 years.
Our professional consulting services to CEO’s (Chief Executive Officers) in both Corporate Business and Health/Medical Services sectors have been tried and tested
Marketing and Sales Plans
Whether we are working on mapping your new strategy, crafting your funding plan, growing sales by using our 133 Marketing and Sales tactics or searching for your new executive you can rely on us getting the job done thoroughly.
Our funding division makes application for Grants in the Production Incentive Program (PIP) designed for the Clothing, Textile, Leather and General Goods Sector (CTFL) as well as the Manufacturers Competitiveness Enhancement Program (MCEP) for manufacturers other than those in the CTFL.
We successfully negotiate the various protocols in IDC, SEFA, NEF and DTI to get funds for companies who have a great product, excellent staff, much innovation but no cash. Dr Freestone is a Senior IDC Expert and sources Plant and Equipment funding as well as working capital funding to ensure that cash flow is not a limiting factor.
The division works hand in hand with Business Support. It has been our experience that unless the client changes his business behaviour there is not enough funding in the world. So once a workable Business Plan has been completed, it will require change management, which is offered by Business Support.
Our Softskills division; Interco Training and Development UK, provides training solutions with courses designed to increase business and leadership knowledge.
The 97 practical courses that we offer can be held at the Company premises, making it very convenient and cost-effective.
Our normal courses, held in very upmarket premises in HULL, United Kingdom are conducted weekly, 4 courses per month. They change the following month and depending on popularity may come back sooner than every 2 months.
The courses are monitored by an invigilator and score results are given to management a week after training, which gives the Company, sending the trainee, a subjective evaluation of how they have done.
Interco has a Joint Venture with Sterling Capital to provide funding to SME’s through our Funding Lines suite of products.
Problems we solve for the Business CEOs include:
Poor inventory controls
Old fashioned accounting systems
Not using accounting systems correctly
Poor marketing or no marketing
Poor marketing tactics as no marketing strategy exists
Too much marketing causing space and order backs leading to low customer satisfaction
Extremely low customer satisfaction score
Productivity in tatters
Low On-Time In-full statistics.
No staff training
High employment changes
Over-employment adding to lack of productivity
Poor systems and procedures
Lack of control in the organisation causing chaos.
No Mechanisms to check and control the organisation.
No tracking of executives progress to planned objectives.
No Leadership profiling
No executive training
Poor Executive recruitment using the DISC Tools.
Poor management practices
Professional Services we offer the Health Service CEO’s
Conducting quality audits of clinical coding
Project management of clinical and administrative information systems implementation
General Practice Accreditation Readiness.
Services for Education & Professional Development in the Health Care Sector
Professional development and staff training for;
Activity Based Funding
Clinical Coding readiness. ICD10
Education & Training;
People entering or re-entering the Clinical Coding profession.
Overseas organisations looking to set up Health Information Management systems
Management expertise focused on two specialities – strategic positioning to support and grow market share; development and implementation of working plans to meet strategic outcomes:
Boutique consulting services provided include;
Providing due diligence services and contract negotiations for the acquisition of:
healthcare manufacturing facilities for major UK and South African based Industries.
Project to integrate multiple mining facilities into one plant, ensuring uninterrupted supply to the market.
Change management and the negotiation of a purchase of a South African owned Transport business to get mining product from the DRC to South Africa.
Project to transition a trading entity into a copper cable manufacturing entity with a world-class a new range of copper cable manufacturing plant in South Africa.
Engaged in working with a telecommunications provider in Tanzania for 2 years.
Engaged by a South African company to craft a business plan which had a complete design and construction to build electrical and telecommunications projects in East Africa. The scope involved designing and costing the project to connect with the Middle East from Tanzania to South Africa.
Taking a low-cost mass distributor textile provider to becoming a multi-faceted high cost “Made to Order” Clothing and Uniforms Fashion House and provider of Premium Gifts to a Corporate Niche Market.
Membership and Affiliations
The MJF GROUP holds Membership with:
The Institute of Directors (IOD)
Institute for Independent Business (IIB);
The South Africa Institute of Tax Practitioners (SAIT),
Commissioner of Oaths
SARS Tax Practitioner.
Full Member of the HIMAA (Health Information Management Association of Australia). Certified Health Information Manager.
I have been asked by many of my Linked in members to give some background on SEFA, The Small Enterprise Finance Agency.
THe easiest thing to do is to make a few reference cuts from SEFA and then give you a full URL to go and have a look for your self.
I have quite a bit of experience in making SEFA application so just remember if you feel that the process is a bit difficult please contact me. Use the contact form below.
Disclaimer: The following is extractedfrom the SEFA site. I am not employed by SEFA and do not in any way give any such impression.
I am not employed by SEFA and do not in any way give any such impression. I am an Independent Business Advisor. Dr. Michael J Freestone
The Small Enterprise Finance Agency
The Small Enterprise Finance Agency (SOC) Ltd (sefa) was established on 1st April 2012 as a result of the merger of the South African Micro Apex Fund (samaf), Khula Enterprise Finance Ltd and the small business activities of the Industrial Development Corporation (IDC). The agency operates as a development finance institution (DFI) and reports to the Department of Small Business Development (DSBD). In line with its mandate, sefa provides financial products and services to qualifying SMMEs and Co-operatives as defined in the National Small Business Act of 1996 and amended in 2004. This sefa accomplishes through a range of wholesale and direct lending channels.
sefa has a national presence with its Head Office located in Centurion, Gauteng.
sefa Direct Lending Products
These are loans that sefa provides directly to Small and Medium-sized Enterprises as well as Co-operatives operating in all sectors of the economy. The facilities range from a minimum of R50 000 to a maximum of R5 million.