How Do I Maintain My Competitive Advantage?

Consumer loyalty has declined sharply in recent years. Today, customers go where they can find the best products and services, even if that means breaking off long-term business relationships.

• Monitor your competitors, and don't be ashamed to copy their best ideas (assuming that doesn't mean violating patent law).
• Attend trade shows to learn more about your customers and competitors.
• Devote some time each week or month to devising new methods, products, or services for your firm.