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201 GREAT IDEAS for Your SMALL BUSINESS, Third Edition by Jane Applegate

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GREAT 124 IDEA: Know Your Competition

Entrepreneurs love to brag about beating their competition, but the truth is that most small business owners are too busy to know what their competition is up to. But remember, operating your business in a vacuum can lead to its demise.

“You need to know what your competition is doing,” said Guy Kawasaki, author of Reality Check (Portfolio, 2008) and Enchantment (Portfolio, 2011), among many other best-selling books.

“You need to shut off the phone, close the door, and figure out what you stand for, what your competition is doing, and what they stand for.”

Kawasaki, who founded www.alltop.com, a popular and innovative site for news junkies, says there's no excuse not to know everything about your competitors. ...

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