Identify the real competition.
Fortune 500 companies and championship football teams have at least one thing in common: their competitors want to win as much as they do. It is always clear who the competition is in a football game: the competition is the team on the other side of the ball. It’s not quite so clear in the business world. You probably won’t ever meet the competition face-to-face. Instead, you’ll both compete for a portion of the market share. The score won’t be displayed on a huge scoreboard, but it will show up in sales, revenue, expenses, and ultimately profitability. In football, the competition sometimes becomes so tough that a clear winner only emerges during the play-offs. In business, the competition might knock other companies ...
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