The temptation may be to act quickly so your company doesn’t lose too much money. But hold on. Before you react, you may need to check your information to make sure it is accurate. This is probably a good time to hire someone or get someone from a special government program to review your work.
If you do determine that your initial research is correct, make sure you develop a strategy that will help your company become even more successful. Also determine your different options and choose strategies that make sense for your company and its resources.
To do this, you may need to establish a team or committee to help you through the process. When there are major changes that need to be made, it is best to leave all the brainstorming and decision making to one small, trusted group of people. Have people do additional research to make sure that your potential changes are good ones.
You will also need to revise your business plan or create a new one that will include the new information and your strategy to become more competitive. You can either write the plan with your team or outsource the project to a qualified expert. Many freelance copywriters have experience with business plan writing.
Competitive Intelligence