In nearly every industry, there is so much competition. Businesses have to fight ruthlessly for the attention of just a few customers.
I don’t think this problem is going away any time soon: As access to the web becomes easier and cheaper all around the world, the barrier to start a business will become increasingly minimal and businesses will face even more competition.
Unfortunately, for many businesses, increasing competition means a downward pressure on prices. But it doesn’t have to be that way. In this excellent article at Harvard Business Review, David Aaker talks about innovating in your brand to make your competition irrelevant.
After reading this article, think about what you can do in your business to innovate your way ahead of the pack.