Cunning Method to Spy on Your Competitors
Published: Tue, 01/12/16
We often run help wanted ads on Craigslist for Managers, Assistant Managers… we receive 10+ applicants… weed out those who don't meet our needs... meet the candidates at a Starbucks… and “interview” them for the “job.”
We learn a lot about the biz, the local competitive environment, loan rates and volumes, marketing tactics that work, profitability, employee pay rates and bonus programs, etc.
Some we hire. Others, we pay them $50 - $100 for an hour of their time plus the coffee. Maybe throw in a scone :-)
Don't overly complicate things. Simple works! You can learn a LOT about payday, installment, car title... whatever business you're in.
Got a question? What are you struggling with RIGHT NOW? Need a vendor, a bank, an ACH processor, a call center, loan management software, got an idea? Jer@TrihouseConsulting.com
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