I guess the earlier days were better as in the feeling of competition was not that strong as compared to the present days. Today more than yourself you need to take into account what your competitor. So what preparations you need to do to fight hard against your competitor and win the race.
Possess a Real-time search for the social web
Research why do they even exist?
Where do they add 'will-pay-for' value for customers?
Which of our customers are of most interest to them?
Are they less exposed with their suppliers than you are?
What do they intend to do in the future?
How will their activity affect our strategies?
Are there any new competitors or new ways of doing things which will appear in the next few years?
How much better than them do we have to be to win their customers?
If I were a customer would I choose our product over those offered by competitors?
Assess Your Competitors' Corporate Culture too.
Well these and many such questions can be thought and analyzed to keep yourself updated!
Possess a Real-time search for the social web
Research why do they even exist?
Where do they add 'will-pay-for' value for customers?
Which of our customers are of most interest to them?
Are they less exposed with their suppliers than you are?
What do they intend to do in the future?
How will their activity affect our strategies?
Are there any new competitors or new ways of doing things which will appear in the next few years?
How much better than them do we have to be to win their customers?
If I were a customer would I choose our product over those offered by competitors?
Assess Your Competitors' Corporate Culture too.
Well these and many such questions can be thought and analyzed to keep yourself updated!