Most business owners start their businesses with dreams of becoming financially independent, spending lots of free time on tropical islands, and being their own boss. However, unexpected business problems and fierce competition are challenges that must be overcome to make your dreams a reality. But how do you successfully dominate the competition and achieve the results necessary to live the life you’ve dreamed of?

Sure, you have a great team, and you work hard—but so does the competition. Yes, you have great ideas—wonderful, so do most of your competitors. To truly dominate the competition, you want to put distance between you and them, with you firmly in the lead. Here’s your three-step guide to do just that.

Step 1. Take Stock of Your Business

The first step to dominate the competition is to do an analysis of your business, your competition, your budget and potential opportunities.

Your Target Market

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At Xero we strive to do better every day and we know that the only way we’ll achieve our business goals is by ensuring everyone who works at Xero feels they have all the support they need to do the best work of their lives. 

We are very pleased to announce some changes to our parental leave benefits. 

Parental leave payments: All primary carers, regardless of how they become a parent, are entitled to parental leave payments that are equivalent to 26 weeks. Over that time Xero will ‘top-up’ to 100 percent of their base salary any government allowance or other regional support. 

Partner’s leave: If a Xero employee’s partner has a child, or together they adopt a child or bring a child into their permanent care, they will be entitled to up to six weeks of paid partner’s leave. This can be taken in up to two blocks

If there’s one important message that’s come out of Xero On Air, it’s that cloud technology can make a real difference for small businesses and their advisors. Our Xero Small Business Insights special report: Pandemic Insights: Small Business Experience shows that small businesses using apps lost less revenue, and suffered fewer staff losses, compared to those not using apps during the peak of the pandemic’s impact. The benefits that apps can have are clear, but how can you see these same benefits in your practice?

During Xero On Air, Kaye Harding, GM Ecosystem Partner Experience, and Patrick Frigo, Practice App Specialist, joined me in our episode – The App Stack for Practice Success. Together we explored apps you can get started using to unlock greater success in your practice.

Our app marketplace has over 800 apps to choose from, and in this session we’ve taken out the guesswork

As a business owner, there are few things more unsettling than a high churn rate. Growth represents one of the most important metrics when it comes to success in business. So losing customers at a high rate is never something you want your company to be known for. That’s why customer retention is such a vital strategy to employ.

While acquiring customers was traditionally the primary means by which businesses sought success, the tides have changed in recent years. Retention marketing becoming the go-to strategy in most industries. Seeking to retain customers, rather than exclusively acquire them, has been shown to be more affordable and more lucrative. And it’s generally a more effective means of building a solid customer base.

So how can you go about retaining customers and lowering your high churn rate? Take a look at a few strategies below to revamp your strategy when it comes to

During Xero On Air, we aired Top tips: Digital marketing on a budget, exploring the power of using digital marketing to promote your business. Together, with TRIBE, Google and Mailchimp, our experts explain how marketing your business just got a whole lot easier.

The internet is a busy place and with the rise of digital devices, people are looking online to buy and research services and products. The good news is, there has never been a better time to consider promoting your small business online. This is why learning the basics of digital marketing is a savvy move for any small business owner. 

You may be wondering why digital marketing is important for your small business. There are currently over 4.33 billion active internet users worldwide and to reach them, you’ll need to be able to connect with them online.

What is digital marketing? 

Digital marketing is the

The posts in this series have been drawn from Xero’s Stronger and smarter: a small business handbook. Designed to help small businesses determine which steps to take next, this practical guide uncovers the 10 trends shaping the future – so you can come back stronger and smarter than ever.

Responding to fluctuating buying patterns all comes down to understanding your customers’ mindsets.

As the government restrictions to protect our health eventually ease, people will adapt to the changes at different speeds. Those variations will, in turn, have big impacts on sales for small businesses.

For those supplying household basics, spikes of panic buying are still happening at times – and threaten to reemerge whenever lockdown restrictions return. In contrast, if you’re a small business owner helping people plan their international travel, things are likely to be quiet for some time to come.

When customers purchase can fluctuate and change