Leapfrog your CompetitionLoosing a client or customer may feel weird sometimes and then you start wondering…”What did I do wrong? What company will they be using now? What does my competitors have that I don’t?”. When developing your pet business strategy it is very important to identify what your competition is offering. You can then identify an opportunity to leapfrog over your competitors.

Despite the bad economy, the pet industry in the United States is growing at a steady pace. With this industry booming, it is very important to evaluate your competition, especially prices. I’ll leave you with a very interesting quote by Professor Oliver Chatain from the University of Pennsylvania: “The more friction there is, the harder it is to leapfrog. If you’re much less efficient than your competitor, it’s going to be very hard to leapfrog. However, if you’re not too far [behind], and if a new technology comes up, you… might be able to leapfrog over your competitor. But you will have to carefully manage competitors’ and customers’ expectations to pull that off.”

As a pet business owner, do you evaluate your competition on a regular basis?  I know I do!


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