Classifieds Business Directory Jobs Real Estate Autos Legal Notices ePubs Subscribe Archives
Today is October 6, 2015
home newssports feature opinion fyi society obits multimedia

Front Page » May 20, 2014 » Carbon County News » Chamber of Commerce roundup
Published 504 days ago

Chamber of Commerce roundup

Print PageEmail PageShareGet Reprints

Sun Advocate publisher

Luncheon speaker takes on subject of competition

Ryan Murray, the Dirctor of the Small Business Development and Custom Fit program took on the subject of competition during his talk at the May Carbon Chamber of Commerce luncheon at the Carbon Country Club last Thursdsy and he proved to most everyone in the room that sometimes the most competition businesses have is themselves.

"Competition is anything that eats into your revenue," said Murray who just moved to Carbon from Tooele County a couple of months ago. "You need to understand your competition."

He went on to talk about the kinds of competition and that they weren't all direct competition, that being another business that provides the same service or sells the same product in a certain market.

"Almost everyone knows about that," he said. "But what about indirect competition?"

Indirect competition may be a service or a product someone sells that impacts the bottom line of another business, by offering a different alternative that may satisfy the needs of the customer

He also talked about open markets. An open market is someone who should be buying a product or service, but isn't. That fact is competition in of itself, even if they are not buying the product or service from anyone else either.

Finally there is the competition a business faces from itself. If a business should be selling more of something, but isn't then they are creating their own competition. Failure to take market share when it is available is a problem may businesses have.

Murray then talked about what Carbon County could do to get the competitive edge on the Wasatch Front. In many cases "over the mountain" seems to be the competition most people in business in the area face.

"We need to find those things that we are the best at and provide them," he said. He then asked what the area has that the Wasatch Front doesn't have.

After some discussion about good lifestyle characteristics of the area he asked that people think about it, and come up with some ideas of what Carbon has that other places don't. That, in itself, could be a competitive edge.

Print PageEmail PageShareGet Reprints

Top of Page

Article Photos  
Browse / enlarge – (2 total)
Print photo(s) with article
Get photo reprints on CD
NOTE: To print only the article and included photos, use the print photo(s) with article link above.
Carbon County News  
May 20, 2014
Recent Local News
Quick Links
Subscribe via RSS
Related Articles  
Related Stories

Best viewed with Firefox
Get Firefox

© Sun Advocate, 2000-2013. All rights reserved. All material found on this website, unless otherwise specified, is copyright and may not be reproduced without the explicit written permission from the publisher of the Sun Advocate.
Legal Notices & Terms of Use    Privacy Policy    Advertising Info    FAQ    Contact Us
  RSS Feeds    News on Your Site    Staff Information    Submitting Content    About Us