Are you doing what it takes to make your business as competitive as possible? Take this quiz to find out.

(Score your answers as follows: 1 = Yes, 0 = No)

1. Do you consistently track your competitors' activities?
   


2. Do you ask your clients who they see as your main competition?
   


3. Have you asked your employees or friends who they perceive your competition to be?
   


4. Do you know what differentiates your business from your competitors'?
   


5. Do you rank higher than your main competition in terms of sales, product differentiation, etc.?
   


6. Do you know how well your products and services are priced in the marketplace?
   


7. Do you know why your competitors are sometimes selected over you for business?
   


8. Do you ever ‘shop' your competition to learn how they behave?
   


9. Do you have a plan to address any competitive weaknesses you've identified?
   


10. Have you tracked your progress vs. your ‘beat the competition' plan?
    

8-10: You're on top: You've got one eye on the prize, and the other on the competition. You keep up with your competitors and strategize to make sure your company stays ahead of the game. Stay informed and you will continue to reap the rewards.

4-7:  Middle of the road: You've made an effort toward knowing your competition, but you haven't given it all you've got. Take the extra time necessary to stay informed. Find out what your competitors are up to and make plans for countermeasures. Know your competition better and then take action to get ahead.

1-3: Kick-off your Competitive Plan: You're not really sure what your competition is up to or how it relates to your business, and it's time to do some digging. Step up your efforts and take a close look at how your business matches up to the competition. If you don't act soon, your competitors are going to leave you in their dust. In terms of your competitive positioning, you have nowhere to go but up.