Your competitor's customers leave reviews and that is a beautiful thing! It allows you to understand what is and is not working for them and this is majorly beneficial for you! You see, business is like a game of chess and if you are consistently strategizing (AKA... thinking) about your next move, you will ultimately have the upper hand and will then greatly increase your chances of winning! However, if you are not paying attention and thinking constructively, there is a significant chance that you will lose! If a person would only be willing to do the required research and ask questions like... what does the market look like, what are the competitors doing and not doing, what is the buy rate for this type of product or service, what is the age of the target market that's being targeted, is this business model scalable, is this business duplicatable, can this business be set on autopilot as a passive income generator and most importantly, what is the exit strategy for this business! Many more questions should be asked, but we have provided a few above to get your thinking process started! For other’s opinions and more information on this topic, check out Googles #1 top-ranked website @... https://www.entrepreneur.com/article/239043 and see what they are saying!
By watching your competitors, you can learn and grow from their mistakes and win at an accelerated rate! Depending on the type of business you are pursuing, there are many free online seminars and webinars you can attend, which is typically set up in a sales funnel method! However, inside of seminars and webinars, the speakers tend to have a value section, and this is where free training can come into place! Take what you want from it, discard the rest, and be on your way or if you like what they are selling... stick around for the sales pitch! Another method is to simply type into Google, your competitor's name, and read some reviews left by their customers, concerning the service or product which they have provided! This is a solid way of getting the info you need, which will give you that competitive edge of what is working in your particular market! The easiest way for you to identify what is working (selling) and what's not, is by typing a specific question into google! Here is an example you can try now... Example: type dog tag review into Google, and it will provide you with the best reviews to date or type in whatever product or service you wish, then type review at the end of that product or service... Example again: camera review, and it will provide you with the best results to date! Knowing your stats will help you in your business... TREMENDOUSLY! For other’s opinions and more information on this topic, check out Googles #1 top-ranked website @... https://www.forbes.com/sites/forbesfinancecouncil/2017/05/18/lessons-you-can-learn-from-your-competitors/#349b5bf7205a and see what they are saying!
A mentor's job is not only to ensure that you learn, hit your targeted goals, and succeed but their job is to also challenge you in new ways that you have never attempted before! A good mentor will walk you through the gauntlets of personal and business development and have you focus in a completely different way! When it comes to competition, think about this for a moment... if you have been in the business game for 3 years going through all the trials and hardships and a brand new business opens up in your field, do they pose a threat of you losing your cut of the cake or do they cause you to think more constructively to remain on the top? When you switch shoes, you can see the way others are looking at you and not just you looking at them! The best part about having competition is that they will always keep you on your toes, just like a good mentor will, and most of all, they will set the barriers for you to supersede! For other’s opinions and more information on this topic, check out Googles #1 top-ranked website @... https://www.entrepreneur.com/article/245375 and see what they are saying!
When it comes to operating your business, the chances of you utilizing the good old traditional methods, such as consistency, focus, and time are high! However, with that being said, many beneficial factors come in place by doing so and that's fantastic! Although your competition from time to time, may have completely different plans for your business ventures, and they may even want to run you out of business, and that could ultimately result in destroying your livelihood as you know it! If this is the case and you are experiencing difficulties, don't worry about it... we have you covered! You see, we are not going to provide you with the information you need, to bounce back and break even with your competition... NO! We are going to give you some strategic approaches here, that will COMPLETELY ANNIHILATE THEM, by beating them at their own game! You will want to focus on relentlessly striving for an extreme competitive advantage! You can do this by devastating your rival's profit sanctuaries and by being prepared for dirty play! Your first stage of the attack is to know the 7 differences, and they are… product differences, service differences, distribution differences, relationship differences, image differences, reputation differences, and price differences! When it comes to price differences, There’s a fine, but a real line, between aggressive pricing (AKA… finding the threshold cap of low cost, while still receiving profit) and predatory pricing (AKA… dropping far below profit level, to destroy the competitors and hope for enough customer volume to earn a profit)! Although, this is where you want to avoid directly attacking AKA... predatory pricing! The second stage will be to deconstruct your competition's business by way of research… LEARN EVERYTHING YOU CAN ABOUT THEM! You will want to know the exact blueprinted steps of your competitor’s business model! Now, into the third stage, you go! This is where you will want to compare your competitor’s offers to yours, make competitive analysis, make a better offer than them, differentiate your business from your competitors, be the first in more things then your competition, improve your customer service, make innovation your best friend, get your pricing correct, learn how to use analytical software and automated systems, build your own niche to have more room for your business, identify and solve the pain points of your customers, let customers tell you how your business can be better by issuing bonus surveys that offer rewards, discounts or free products and services, personalize your marketing messages with your customers, know your target markets demographic analysis well, be creative, be inspiring, be educational, be motivational, be empowering, always try to be where you and your competitions customers are, create your brand as a promise to your customers, understand your competitors marketing strategies, read the reviews left by customers, operate with the highest level of integrity, and all around… lookout for your customer's best interest, care for them, create strong values to give to your customers for free, and finally… spend as much free time as you can, focused on constructive thinking, when it comes to how you will expand your business, in a more efficient, productive, and effectively meaningful way! This can simply be done by asking the question… HOW! Ensure that you ask your customers targeted questions, that start with how, what, when, why, where, and who... Example: How would this work best for you or what will happen if you don't or where do you anticipate this will work best, etc.! When you involve your customer, engage in a 2-way dialog and ultimately give full control and power up to them by asking those specific, self persuading questions...