How to compete with competitors

“If you’re playing your competitor’s game, you’re going to lose.”

– David Yoffie

Follow the leader is a fine game to play – if you are a child. It is, however, a losing strategy in life and in business.

In my experience, I have found it easier to compete when I have been the under-dog. Less was expected of me. My goals were sharper. I looked for every opportunity to take advantage of the weaknesses of my competitors. An under-dog can do several things to gain market share:

  • If your competitor processes orders in two days, strive to turn orders around in one day.
  • If they open late and close early, do the opposite – open early and close late
  • If they offer a wide selection of products, do the opposite – find a niche market and carry a deep selection. And hire staff who care deeply about your niche and passionately serve your customers.
  • Find out what your customers value the most – and fill it for them.

Don’t play your competitors game. Play your game! Find your competitive advantage. Give your customers lots of reasons to do business with you.

Worry about your customer – not about your competitor.

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