11/05/2023
Creative competition
Business competition is the contest between organizations that provide similar products or services or that target the same audience of consumers. Businesses compete to convert and retain customers, increase revenue, and gain more market share.
When u look at the competition in other parts of the world, it's healthy… sadly in most parts of Africa, there’s no creativity in competition……
Don’t get me wrong, there’s no harm in competition, but at the same time don’t get into a saturated business niche or market or idea...
A perfect example is four or five fashion shops on the same line, of which 3-5 of the shops may sell similar products…This is not how top business economies like Asia, Europe, America, etc. They hardly build the same business. They create inter-related businesses
But in most cases, once we someone succeeding in a particular venture, we just dive in and want to do the exact same thing, that’s a lazy approach geared toward failure. The competition we have in Africa at times is a crab mentality.
This is a collaborative effort ensuring the money stays within the ecosystem of hospitality and all companies benefit from each other
But in most cases, once we someone succeeding in a particular venture, we just dive in and want to do the exact same thing, that’s a lazy approach geared towards failure. The competition we have in Africa at times is a crab mentality.
Let’s think of creative competition and creative collaboration. Let us build enterprises within the same ecosystem but not necessarily the same business... and we all will swim in constant generational wealth
NB: we may or may not agree!!!!
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