Know Your Competition
Here's how to get the goods on your competitors and stay one step ahead.
Cindy Rice clearly remembers the first time she realized International Brownie, her mail order gourmet brownie business, had competition. Walking through Boston's Faneuil Hall, a restored historic area and shopping district, she noticed a retail store selling trays of gourmet brownies. "I said, `Oh my Gosh! This is exactly what I'm doing!' " recalls Rice.
Now, two years later, Rice says she realizes that competition is a fact of business life. "Actually, competition is good for me," she says. "It keeps me on my toes and reminds me that I can't slack off. I have to provide really good customer service and a unique product." To make sure she's ahead of her competition, Rice periodically orders from her competitors and compares their packaging, service and quality to her own.
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