Everyone has competitors.
Everyone. Yet whenever discussing target markets and competitors with clients, a surprisingly frequent comment is, “We don’t have any competitors.” . . . Really? No, you really do.
It’s the “can’t-see-the-forest-for-the-trees” syndrome.
Too often business owners focus on a single unique differentiation about their product or service, and believe that particular “selling point” means they don’t have any competition because no-one else offers it.
No matter how unique your service or widget “enhancement” is, that is not the only aspect of your offering. Consumers are looking at the entirety of your offering (the forest), and comparing all aspects of it with other similar products or services (other trees in the forest). Yes, your unique differentiation might be enough to convince consumers that yours is better than someone else’s, but all those “someone else’s” are still your competitors.
Read our related article to learn about the 3 Types Of Competitors Every Business Shares
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