Thursday, March 19, 2015

Out Think Your Competition

People always want to know what the secret to success is. I often get asked how to beat one's competition. It is simple. Have a great product. Products and services that are loved by consumers will sell themselves. That is why you always hear of these bootstrap businesses that started with nothing and made it to multi-million dollar sales status.
Here are my top steps to beat your competition.

First, don't buy into a competitor who is stealing your thunder. Maybe you did have the first idea on a specific service. Months after launching you then notice a new company pops up and is copying your idea. Don't freak out. In fact, don't even worry about your competition. Getting caught up in what the other company is doing, even with your idea, will distract you from moving forward.

Next, stand besides your product or services. Don't discount to meet a competitor's pricing. If you stand by the quality of your products or services, customers will remain or still buy. Why? People prefer quality over a discounted price. Even in this economy women are still buying $20 lipsticks from Macy's. Quality and reputation do mean something to consumers.

Last, love what you do. Some people start businesses to make money, not create a lifestyle or career. Your competition probably is in it for the money. You stay in it because you love what you offer. If you remain passionate, people will pick-up on your enthusiasm. This passion will drive sales, increase customers and allow you to be admired as a leader in the business community!

Have you ever had a business idea stolen by a competitor? Let's talk.

Twyla N. Garrett

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