Maintaining Your Position – Tlou Mathatho

9In the world of business almost all companies have a compelling desire to be the market leader in their field. And they all invest both time and resources to be the market leader. What I have seen companies struggling with is the inability to lead and maintain that leadership position on the market. Thus being a market leader requires much more than coming with an invention that takes the market by storm. It requires a more sustainable business model that will position you to lead at all times.

Here are some nuggets how a business can maintain their position on the market.

Some of the products and service offerings that are offered by some companies have been offered in the same way without any improvements. It is therefore vital that your product development model be revisited from time to time to find out if your offerings are still relevant to the market.

  1. People development

Companies that do not develop their people find themselves having to trail behind because what makes or breaks companies is its people. People can take the business to the next level and they can also keep it at the same level until it becomes irrelevant to the market. so get your people capacitated to tackle new challenges that the market presents.

  1. Market intelligence.

Businesses that are well informed about market trends have an added advantage as they know in which direction they should channel their inventions. Thus they are able to develop products and service offerings that match the current needs of the market.

 

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