If you haven’t read my book “Avoiding the Continuous Appearance Trap,” then you might not know the title of this article is the last “sub-question” from the first chapter question: Are You Content?

Part of not being content must include assessing the competition on some regular frequency. When we assess our competition, I want to challenge all of us to consider two very important competitors: First, the known competitor: other companies with similar product/service offerings. Second, the competitor many of us don’t consider: the “status quo.”

Let’s tackle ‘the known’ competitor first…whether we want to think about it or not, there are real companies out there with similar product/services who are actively competing for our customers. Remember, the world is moving forward. Technology and our competition is moving forward with improvements. Our customers and suppliers are moving forward. Therefore, if we are not moving forward as well, inevitably, we are moving backwards.

We must continually assess not only our competition, but the industry we operate in. Lucky for us, social media is a great place to start keeping an eye on the pulse of our trade. We can use Twitter, Facebook, and LinkedIn to not only learn about other companies, but to learn about ourselves as well.

Another way to make assessments and look for opportunities is to ask our current customers. For small companies, this is easy. However, for larger companies, you may need to solicit your sales and marketing team to help conduct a Voice-of-the-Customer survey. Speaking to your customers can be one of the best, and certainly cheap ways, of gathering valuable information. Ask about the products or services you are providing. Are they happy? What would they change if they could? Ask them if they were to purchase from anyone else, who would it be? and why? If they are a new customer, ask them about the products or services from their previous supplier. While it can be after the fact, and often too late when a customer decides to take their business elsewhere, don’t let that valuable information go out the door with them. Ask for the reason they were not satisfied with you, and what makes their new choice of supplier more attractive to them.

While it’s not just our competitors that we should keep an eye on, the industry as a whole provides valuable indications as to what’s next. You, or someone from your team, should attend a conference or trade show. These events can be a great way to learn who your competitors are, what they would like to see, and what they offer. You can also glean information from your suppliers. Are they having a hard time keeping certain items in stock? Is your competition ordering excessive amounts of certain types of material? While some of this information can be hard to find, it’s certain that someone needs to take on this responsibility.

Ok, now for the competitor we don’t always think about: The Status Quo.

Its easy to allow acceptance of the status quo to take away your customers. Sometimes, we feel like we just don’t have the time to consider moving away from what we feel most comfortable with. We must help our leaders and our team members understand the danger of staying with the status quo. Sometimes, companies get stuck in the status quo because they feel “safe.” It is important the teams understand that it is no longer safe to hover within the status quo. Consider this: Team members will continually ask themselves if the pain of change is worse than the pain of staying with their current problems. If the solutions being presented or created are more painful to them, they will stick with status quo. Be sure your messages and conversations enable your team members to see a clear and easy path from unsafe to a new safe.

Do not allow your company and your team to become content with the status quo and get stuck moving backwards. Keep an eye on the competition and continue to communicate the need for improvement and the right kind of change.

Next week, we will be moving into the second chapter from my book “Avoiding the Continuous Appearance Trap.” The second question is ‘Where are Your Leaders Spending Their Time?’.