Watching your competitors can give you clues about what you can do to grow your business. Seeing what works for others (and what doesn’t work) will give you the knowledge you need to make changes that will make your business more profitable.
Although you should never copy exactly what your competitors are doing, you can certainly learn from it and adapt some of their good ideas to fit your business. Here are some of the things to look at:
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One of the questions I get a lot goes something like this, “How do I get customers for my business? I don’t have an email list, a popular web site or any other way to reach an audience. How can I start making money without those things?”