Quit running from competition!

It drives me crazy.   So many times I’ve spoken with people who tell me they’ve found the perfect market for them, but they can’t go into it because one of the competitors is too strong.

Instead of taking this as a challenge of how they can beat the competition, they run from them.

Would a winning basketball coach just not show up if they heard they were going to have some tough competition this week?

Notice I said a “winning” basketball coach.  They wouldn’t run from the competition.  Instead they’d study them.  They’d watch videos.  They’d figure out their weaknesses. 

They might even change up the practices to focus on the key opponents.   They would establish a strategy to win the game.

Even if they did everything and still lost against this competitor, they’d make a good showing…and it would be a game to watch!

No matter how good the coach and the team is, they’re going to have to go up against some premier competition sooner or later.

The concept of zero competition and a wide open market online is dead.  RIP.

If you find a market today that has no competition in it, then the vast likelihood is nobody is buying in that market.

If they were buying, someone would be taking advantage of the opportunity.

So to succeed today isn’t about finding an empty market.  It’s about thoroughly analyzing the competition…and figuring out how to whip them at their own game.

It’s about studying what they do right and what they do wrong.

And it’s about getting to know the customer better than they do.

Remember this rule…

Some benefits are required to play the game, while point of difference benefits are what WIN the game.

This means there is a selection of basic benefits you need to even have a chance to make the sale.

Obviously you have to solve the problem the customer wants solved.

If you’re in weight loss, then this means your product really does have to help people lose weight…and you’ve got to be able to back up and prove that promise.

But doing the above isn’t really a unique promise.  It’s not a point of difference from the competition.  They can do that also.

This means you need to find a point of difference the competition is missing, some element that causes customers to continue looking and continue to be frustrated because they can’t fully solve the problem.

How do you find it?

A couple of the free ways to start hunting down this information is by visiting discussion boards and watching the chat on social media in your subject.  What frustrations and questions continually come up ,especially as it relates to products in the market.

Go over and visit Amazon.com.  Read reviews of all the top products in your category.  What problems do they keep mentioning with the current products in the market?

And then finally…ASK your target market.  Run a survey on your website or to your list.  Get on the phone with some potential prospects and customers.  ASK them.

The more passionate they are about the subject and the more difficulty they’ve had in finding the answer, the more likely they’re telling you about something unique you can capitalize on.

In other words, as my friend Glenn Livingston would say, do your fricking research.   Spend enough time with your customers that it changes you as a person until you experience real empathy with them and their problem. 

Do that…and you’ll find competition isn’t the problem.  All they do is elevate the game and require everyone to play at a higher level. 

The real issue is with building a business model that works in your market.  And many times in depth research of the competition will provide answers here (what are they doing to profit right now). 

So quit running from competition.  Instead confront them head on and beat them at their own game. 

The Total Conversion Code with Glenn Livingston and I has been a work of love…it’s the most detailed and systematic method I’ve ever seen at researching a market and not just converting visitors into sales, but building your full business model online.

There is nothing like it.

And it’s coming soon in February.

If you want to get on the pre-notification list so you can know the moment it’s ready…click there now.

Terry Dean
Terry Dean

Terry Dean has been in full-time internet business since 1996 and has helped thousands of entrepreneurs get started online through his articles and products. He lives in Ocala, Florida with his wife and 2 dogs. Find out more about how his step-by-step courses can help you today.