Navigating Industry Challenges- Competition

In today’s competitive business landscape, small business leaders face the ongoing challenge of staying ahead in their industries while maintaining a commitment to ethical practices.  Our August topic this month was, “Navigating Industry Challenges- Competition.  We asked ourselves, “What competitive strategies have you employed to gain an edge over competitors in your industry?  Or, “How do you ensure that your small business maintains a strong ethical stance and stands out as a reputable player in the industry?”

These challenges are not just about profit margins but about living out our values and serving our communities. We have gathered some insightful advice from fellow leaders on how to compete effectively without compromising integrity.

1. Insist on Integrity

One business leader from Birmingham shares his experience working in an industry where unethical practices are common. He oversees a sales team that often faces the temptation to make false promises to potential customers in order to close deals. However, he makes it clear to his employees that honesty must always come first. He reminds them that their company’s reputation as an ethical provider is far more valuable than any short-term gains achieved through deception.

He emphasizes, “If you are in a competitive situation, your reputation will carry you across the finish line. You don’t need to bash the other provider or be tempted to deceive. Do the right thing, and trust that integrity will win in the end.”

2. Find Your Niche

This same leader recalls a situation where a salesperson on his team had a great conversation with a potential client who was currently being serviced by a large and reputable accounting and tax firm. The salesperson initially hesitated to compete, assuming that their smaller firm couldn’t match the other companies’ prestige.  However, he quickly realized that their smaller size was actually a strength. “This accounting and tax firm typically represents very large companies,” he noted, “but some of their smaller clients may not get the attention and service they need. That’s our sweet spot.” He encouraged his team to recognize their unique value proposition and to avoid feeling like imposters in the face of larger competitors.  By focusing on their niche—offering personalized service to clients who might feel overlooked by bigger firms—they were able to carve out a space where they could thrive.

3. Embrace the Power of Truth

A business leader from Rochester shared a story about how honesty and transparency helped him maintain his integrity, even when it meant losing a potential client. His company was introduced to a major Christian media organization that was looking for a developer to create a streaming app similar to those used by Angel Studios. Although his company had the knowledge to develop the app, they had never completed such a project before. Instead of overpromising, he connected the media company with a friend who had the right experience.

“We lost the job, but I felt good about being of service to my friend,” he reflected. “The truth helps in so many ways. Sometimes it hurts, sometimes it blesses, but it always seems to work out well.”

In the long run, truth builds trust and solidifies your reputation as a business that values integrity over profit.

4. Build Genuine Relationships

Finally, a business leader from Troy shared how his commitment to building genuine relationships with clients has led to both personal and professional growth. He recounted his 15-year effort to invite an insurance client to his Bible study group. This summer, while on vacation, that client—who is not a Christian—called him in great pain due to a kidney stone and asked for prayer. The leader assured him that not only would he pray, but he would also have his men’s Bible study group pray for him.

Two weeks later, the client called to thank him for the prayers and expressed interest in discussing his investments with him. What’s more, he expressed a desire to attend the Bible study. The leader noted, “The point was that I didn’t care about his investments; I cared about him as a friend. Now I may have an opportunity to have his investment business also.  It’s good to share Christ.”

By genuinely caring for clients as individuals, this leader not only strengthened his business relationships but also opened doors to share his faith.

Upcoming Events
Please mark your calendar for our Detroit Leadership Breakfast with Pieter D. Winne, EOS Implementer.   Our event is on Friday, September 20 from 7:30– 9:30 am at the Bloomfield Open Hunt Club.

Please join us for our Grand Rapids Leadership Event on Friday, October 18 from 7:30 – 9:30 am at Grand Valley State University.  Dave Nemmers, Author & Former President/CEO Midstate Security Company is our keynote speaker.