10 Ways: To Beat Your Competition in Business
10 Ways: To Beat Your Competition in Business
10 Ways: To Beat Your Competition in Business
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1
Positioning
It is essential to identify your primary target audience. List out the kind of
people that are and are not your customers. Once you do that, YOU MUST
CLEARLY ESTABLISH WHAT YOU DO AND WHAT YOU DON'T DO AND
COMMUNICATE IT TO THEM THROUGH YOUR MARKETING AND SALES
COMMUNICATIONS. In some cases, when the customer is not of your liking or
does not fit the criteria, saying no is important. This way you will be able to
clearly differentiate yourself from your competition and attract only those
that resonate with you and your values. This will make sure you achieve a
competitive edge over your target customers in the minds of your customers.
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2
Increasing
your customer satisfaction
levels and quality
There are 2 parameters to be considered when it comes to what the customer wants:
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3
Hybrid Business
Model
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4
Marketing
proactively and
not reactively
Marketing helps you reach your target customer even before they looking
out to buy your products and services. This way YOU ESTABLISH THE
AUTHORITY EVEN BEFORE CUSTOMER REACHES OUT TO YOU and
because they reached out first you have an upper hand in selling. Most
businesses are struggling to generate leads and their first approach when
they generate a lead is to start selling from the first step even before
qualifying them. So take advantage of the fact that your competitors are
desperate where you have an upper hand with the leads that you have
generated.
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5
Take your
weaknesses
and turn them into your
strengths
When it comes to an individual, you can have strengths and weakness and
you can build your strengths and ignore your weakness to become an
expert. But when it comes to a business you can always hire experts where
your business is weak. Your customers are depending on you, so you can’t
be weak in any part of your business. So, focus on your strengths but focus
more on your weaknesses. IDENTIFY THE WEAKNESSES AND TAKE THE
NECESSARY STEPS TO LEARN AND ACE IT. Make that weakness your
strength. Make yourself and your business stronger than your competition.
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6
Adopt automation
in your business
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7
Ask for feedback
proactively
Make sure you have regular conversations with your customer and take their detailed
feedback. ANALYSE WHAT THEY ARE HAPPY ABOUT AND WHAT UPSET THEM.
Fix that and continue doing what has been working. Make sure to implement the
feedback in your operations and update them on the same. This will help you achieve
more happy customers which increases the chances of them returning to avail your
services and most importantly not to even change the vendor when they want to.
This is how you develop your customer experience and quality of service.
Remember- it is not a complaint, it is the feedback that you should be open to and
are willing to work on. This will help you generate case studies for Marketing as well
where you showcase your problem-solving abilities for the said customer.
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8
Networking
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9
Be grateful and
practice gratitude
Implementing the above 8 strategies will help you plenty, but it's important to take a
breath and look around you and be grateful for what you have achieved. Competition
takes a toll on you and your ability to remain calm when you have so many things you
need to do. Be patient, play long term. Do not be in a haste to beat your competition.
Take a moment every day and show some gratitude for what you have, BE GRATEFUL
FOR WHAT YOU'VE BUILT, and be thankful for how far you've come. Only after that
can you plan your next steps objectively. Set goals and make progress silently.
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10
Invest in your
learning
Entrepreneurs give up on learning the moment they start their business and they put
in every single penny they have in to their business and struggle. Steve Jobs said,
“Learning continually – there’s always “one more thing” to learn”. ALLOCATE A
PART OF YOUR FUNDS OR BUDGET OR EARNING towards your and your team’s
learning. Trust me when I say this, I have trained more than 5 lakh people and have
coached more than 1700 entrepreneurs in our system and their business is never
going to remain the same and each and every entrepreneur thank themselves for
investing in learning and growing their acumen. Let your competitors focus on
running while you sharpen your knife to play a bigger game.
99.3% 99.3%
attended it said it is said that it is important
applicable for their for other entrepreneurs
industry. to learn what this
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