1.Create your own lane. Do YOU. Create your own culture. Dont try to be a carbon copy of your competition. Coca-Cola is not Pepsi, Burger King is not McDonalds. Showcase your differences, and embed them in the minds of your customers. 2. Know YOUR strengths and THEIR Weaknesses. The first Commandment of Business: Know Thyself -- and thy Competition. Study their weaknesses, then capitalize on them. In any competition, its the key to victory. 3. Do what they WONT do. Find out what they DONT do, THEN DO IT. This strategy will differentiate you from your customers, and keep you a step ahead. Remember, SUBWAY does what QUIZNOs doesnt, and vice-versa. 4. Your competition is your best advertising. When your competition tells their customers how they are superior to you, thats free advertising for your business. It will also endear new customers to you because you are now in the conversation. 5. Dont hate. You can showcase your competitive edge without looking like you are drinking Haterade. Show your potential customers how your product or service is superior through competitive analysis, statistics, or testimonies from your customers who have used the product/service previously. Example: Weve had customers come to us from Acme, and they said that our product arrived quicker, and the service was just better. 6. Adjust to market changes swiftly. As the market changes, so must your business. Respond to economic changes quickly. Adjust your business plan on a dime. Scrap old plans and create new ones. 7. Stay in the trenches. Be accessible and approachable. Return calls promptly. Stay connected to your customers. 8. Outwork them and Out-think them. Be where they are not. Find new markets to serve. Reach new customers. Carve out new niches. MAKE IT HAPPEN!
Written by Mark J. Mayberry, JD.
Posted on April 28, 2013 by SpeakerMatch Speakers Bureau