Why business competition should be music to your ears.
✨ Embrace business competition instead of fearing it.
✨ Learn How To Turn Business Competition Into Money!
Sometimes we feel intimidated by the competition out there. We come up with an idea that we feel has merit and the potential to succeed and then we realize that this idea of ours is not unique. Not only that… There are plenty of people out there who have made their business out of this very idea. And so, fear comes to the fore and we let self doubt replace our initial enthusiasm.
We can’t be intimidated by the competition. It’s important to remember that you are not alone in your endeavors. If you are working on a business idea, there are hundreds if not thousands of others who are doing the same thing as you. The fact that there are so many other people out there doing what you are trying to do, means that your idea for a business does have potential. Even huge potential. The key is harness that potential and make it work for you. It is a good idea to share your ideas with people who can help you to make them work.
✨ I am not saying that any business idea we have should not undergo a thorough analysis, be put through a business plan and whatever else entrepreneurs do to take an original idea from concept to reality.
✨ What I am saying is that competition should not be the determining factor in our decision to proceed or not.
How to you cope with the fear of competition?
In the world of business, competition is the name of the game. But, you can’t afford to fear it. If you do, you’re going to miss out on opportunities to make money. You need to embrace the competition. Instead of being afraid of it, you need to learn how to turn business competition into money. And if you’re a small business owner, you know that business competition is a part of life. You have to fight for your place in the marketplace. And if you don’t fight for it, someone else will.
So, why should competition be music to your ears? It is because competition helps you to grow and develop as a business person. You can learn from your mistakes and failures and avoid making them in the future. If you don’t compete, you are just sitting back and watching others do all the work. You are not learning anything new. You are just repeating what they are doing. The key is to be different and to do things your own way. You can’t do that if you don’t compete.
In this reel, I have used as an example a conversation I had the other day with a student of mine.
She has a music podcast and even though she is doing very well for herself, she doesn’t feel like she is ready to take her podcast to the next level.
Her objection? Fear of her competition! “There are so many people out there who do what I do. Why would listeners come to me when they already listen to them?”
The answer to that riddle is in the reel.
Make sure you watch it till the end!
Marketing secrets for small business owner in a competitive market.
When you own a small business, it is important to always be up-to-date with the latest marketing trends and techniques. Here are some tips that can help your business grow.
The success of any business depends on the ability to capture the attention of consumers. In the competitive business world, the ability to attract new customers and convert them into loyal customers is critical. The goal of this post is to show you how to grow your business and increase your customer base.
How do you grow your small business in a competitive market.
Whether you’re starting a business from scratch or working to improve on an existing one, it’s important to understand the basics of how to grow a business.
Here are the primary elements to include in your marketing efforts:
- Find a profitable niche
One of the first things you need to do if you want to create a successful online business is to find a profitable niche. A niche is simply a specific segment of your target audience. For example, if you run a website for dog lovers, your niche could be dog owners. As a small business owner, you have a lot to worry about. You have a website to build, a product to sell and customers to contact. However, not everything is as important as finding a profitable niche.
The best way to determine which products will be most profitable is to find a niche that is already in demand. This makes your job easier, since it will be easier to find people who want what you are selling. It’s also likely that the products in this niche are already made, so there’s no need to develop new products or invent new marketing strategies. So, if you want to grow your business, start by determining which niche is the most profitable.
2. Find out who your ideal customer is. (aka your avatar)
After you’ve determined the niche that you want to focus on, you need to figure out who your ideal customer is. In other words, who are the people who will buy the products or services that you offer?
To find out, you can do some research about the demographics of your target audience. You can also do some market research. Do online searches to see what people are looking for and how much they are willing to pay for the product or service that you offer.
3. Discover how to present an irresistible offer to your ideal customer
A great product or service is only half the battle. You need a compelling offer, one that’s worth your customer’s time and effort. That means it has to be unique, different, and more valuable than anything else they can find. What makes an offer irresistible?
How can we help?
According to a study by the Journal of Consumer Psychology, when compared to their competitors, products with “low price/high quality” combinations outcompete all others. As a marketer, you will need to know the importance of creating a marketing strategy that fits your business goals and audience. You will also have to put in place a plan of action that also involves the design and delivery of the message itsel.
Establishing a brand, finding a niche, discovering the identity of your ideal customer, transforming your online presence from a two dimensional wesbite to a money making three multi-dimensional hug drawing on social media, seo and blogging are all areas we can help you with.