Does your competition pose a threat?

Could a well funded competitor take market share from you?.

Could your competitors copy, replicate or steal your IP and methods?

Companies disappear all the time because they could not keep up with the competition.

However, as experts, we should rarely be afraid of the competition, here are several reasons why:

#1 Competition means your market is educated

Selling requires communicating a solution in a way that is understood.

If there are many competitors solving a similar problem, we can be assured that the market understands the solution and has a felt need.

We just have to solve the problem in a superior way.

We escape the competition by tapping into our unique specialty.

A major reason for start-up failure can be launching too soon, creating a product before prospects are ready.

If there are no competitors we should be worried, not delighted.

#2 Being an expert means you have a unique selling proposition that is not copyable – you

Companies that fail simply cease to listen to their customers.

Nokia didn’t take note of the smartphone revolution and Blockbuster didn’t take note of the streaming revolution.

Failure comes from not seeing change.

As an expert listening to your clients and customers is a daily reality otherwise you would not be an expert.

Continual sharpening of your unique value in the market is essential.

This is literally irreplaceable.

if someone is copying your methods and taking your clients, you can just push deeper into your expertise, charge more money for a more premium market and escape competition by doubling down on your unique speciality

And this is why an expert does not fear competition.

Our Latest Blog Posts

All Posts