Competition Drives Black Friday Sales and Can Enhance Your Business Too!

For American retailers, Black Friday is the biggest and most competitive day on the shopping calendar. Consumers reap the rewards of all of this competition by taking advantage of deep discounts on their favorite items. Competition like this is a win-win for both parties! Can your business benefit like this from an infusion of friendly competition?

Businesses often focus their marketing efforts on outdoing their local competition, but they fail to instill the same competitive spirit inside the office. Little do they know that a little bit of friendly competition can boost employee’s work performance, and at the same time inspire them to do their best to beat out the rest of your competition.

The only problem with this idea is that some business owners don’t know how to induce just the right amount of competition amongst their employees. Too much competition, such as distinct battles over bonuses or raises might cause too much chaos and instill resentment to those who don’t succeed. Instead, here are a couple of tips that will foster competitive collaboration amongst your different teams.

Centralized Competition
Perhaps the most common way of exploiting your team’s competitive spirit is to put it there yourself. Craft a vision that people can rally behind, and inspire them to rise above and beyond your business’s competition. As a leader and a business owner, you have to inspire others to do their best and outdo the others.

Another way that you can foster a competitive spirit in your workplace is to let your employees build it into your company culture for you. This is typically a more hands-off method, and requires that you trust in your team a little bit to be successful. Let them compete with each other in a friendly, constructive manner, and you’ll be impressed by their increased resolve to better your themselves.

In-House Competitions Create Competitive Culture
Employee-led contests can be a spectacular way of fostering competitive culture in the workplace. These challenges can range from work-related contests, such as meeting quotas or satisfying clients, or coming up with new ideas and concepts, all the way to simple Halloween costume contests. The idea of a prize (perhaps extra vacation days, some new tech, gift certificates, etc) may also add to their competitive spirit, and give them just the kick they need to jumpstart the competition.

A competitive spirit can bring out the best of your employees, and can inspire them to be the best that they can be. For more tips and tricks on how to best your own competition, contact Ferrum Technology Services at (847) 697-3282. We’ll do what we can to make sure your business stays at the head of the pack.