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When considering starting a business, do you look at the competition carefully?

WRITTEN BY STEVE MARR
WEDNESDAY, 13 NOVEMBER 2019

An example from Scripture states, "When Micah saw that they were too strong for him, he turned and went back" (Judges 18:26 NASB).

When beginning a new business we must understand the current competition and establish a plan to overcome existing firms in the marketplace. Learn what existing companies do well and not so well. Then determine how you can exploit any weaknesses and gain enough business to survive and prosper. If competition is stiff and you can't find any good openings, consider backing off and looking for better opportunities elsewhere.

In the Word

An example from Scripture states, "When Micah saw that they were too strong for him, he turned and went back" (Judges 18:26 NASB).

Workplace Resources

Jesus said, "For which one of you, when he wants to build a tower, does not first sit down and count the cost, to see if he has enough to complete it?" (Luke 14:28 NASB) Download your Free Guide to Growing Your Business God's Way

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