Before you business suffers from this, checking out your competitors is a worthwhile activity. You'll see what they're up to and it gives you an opportunity to step up your game and do what needs to be done to compete well with them.

What do I mean by stepping up your game? Its about making improvements to your business. For example, are they offering a combination of products or services that you had considered but not committed the time to getting it done.

This isn't about following exactly what they've done, its about taking a closer look at your competitors and using this information to decide what you want to change. Ultimately I want for you to come up with ideas so that you beat your competitors and gain any extra business thats available.

I suggest that you pick say your top 3 competitors and first of all decide what it is specifically that you want to learn about them. Then go and start researching.

Here's some areas that you may want to consider:

What are they doing that encourages people to choose them as a business? i.e. opening hours, friendly staff, payment options, easy accessibility, contact details found easily.

In what ways have they streamlined their operations for more efficiency?

How are they reaching their target market and how can you do this more effectively?

How easy can their business and website be found when searching in Google? If you're a local business, this is one area that you could beat them so that when potential clients are searching for a specific business they find you first.

With all the ideas you now have, prioritize them, write out a plan of action and here comes the important part, take action. Remember you don't have to do everything at once, just consistently work through your plan. If you need help putting this plan together, brainstorming ideas and ensuring that you take the necessary actions, then a business coach can help you.