Maintaining your edge against stiff competition is increasingly becoming a tough proposition for entrepreneurs. In most cases, allocating the proper resources, in the form of both capital and intellectual assets, are key to maintaining leads in any form of business. Attending seminars, keeping in step with the latest industry trends, and updating your working knowledge can go a long way in helping you remain on the cutting edge.
In this week\\\'s mail bag, readers Jojo Ligon and Sandy Orquillas want to know what other entrepreneurs are doing to keep their businesses afloat amidst a competitive field.
"I started running an internet cafe 8 years ago, with its ups and downs, right now, the business is going OK though a lot of competitors and other Intenet cafes are opening. Three years ago, we started going into computer dealership, catering to offices, schools and government agencies. Sales are somehow OK though we want to make sure that what were doing is right and we want to look forward to a stable and sure business. Kindly help us by giving us more ideas on how to be on top of our competitors and what trainings we can join to further enhance our knowledge. Please help me."
-Jojo P. Ligon
"I started my water refilling business four years ago, and it has been doing steady business until recently, when we were forced to cut prices to remain competitive. Just last week, one of our competitors again slashed his prices, and although I am tempted to follow suit, I\\\'m afraid that my finances won\\\'t be able to handle the lower income. On the other hand, I worry that they will be able to price us out of the market if we don\\\'t cut our prices too. Is there a way for me to remain competitive without sacrificing my bottom line?"
Please input your comments and suggestions on the feedback section below. Have questions of your own? Kindly email them to: firstname.lastname@example.org, and we\\\'ll help you get the right answers from fellow entrepreneurs.