3 Ways To Deal With Business Competition
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Published 2019-11-25
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Do you also feel like the competition in your industry is massive? It’s not just your imagination. As more and more businesses come into your industry, your customers are getting more skeptical than ever. And that can drastically hurt your clientbase and damage your bottom line. So in today’s video, Dan Lok wants to share 3 ways to deal with business competition with you, so that you can dominate your niche and scale rapidly & profitably.
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#Advice #Competition #Business #BusinessAdvice #Entrepreneur
This video is about 3 Ways To Deal With Business Competition
• 3 Ways To Deal With Business Competition
All Comments (21)
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Here’s how: 1. Study your competitors inside out. Your competition is not just from the same business, but other businesses too 2. Focus on how you can add value to your customer 3. Think long term, not short term. “I could wait 10 years to win this war” mindset can alter the way you think to last longer in this game 4. Bonus: why not profit from the competition? Partner up or collaboration?
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I love that word, profit from your competition. You can also make your competition go down, so you get their customers and stay on the edge
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One more thing I can add: "Avoid What is STRONG and Strike at What is weak" - Art of War Lets say you Compete with Walmart. What Walmart is strong at? low Price right? Avoid Competing at price! Compete at something Walmart is weak at. like they use under paid workers for long hours or compete at High Quality.
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"Competition challenge you to be better" , totally agree with this.
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I like competitors... somewhere to send customers I don't wanna deal with. They become their problem.
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"If Someone Can Easily Copy What You Do Then You're Not Very Good At What You Do" Thanks Sifu Dan. I have followed you more than a year from now and I watched your very single video that you uploaded. I'm watching this one as well and I use your idea and it works.
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I run a very small mowing business, so obviously, I have a lottttttt of competition. Best thing I can say is if you’re going to do something a lot of people are doing all you can do is try to do it better than everybody else. Customers will go with you rather than them because you do it better.
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"If someone can copy what you do, then you are not very good at what you do..and study to your competitors inside out. Thanks allot Dan Lok I ve learnt allot and now I need to put it into action..
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Hey Mr Dan. I have been watching you for over a month now and in all honesty, watching you has been life changing on so many levels. In many videos you speak about how many mistakes you used to make but when I look at you and watch your videos I get the sense that you are actually a kind person and a very genuine person it is almost tangible even on camera. Thanks for being honest always.
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Thank you for the motivation Dan! It keeps me going. I wish you the best! :)
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I agree! We can always learn from the competition. Learn how we can improve our skills based on what they do
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"Smart Work" is better than "Hard Work" to became a Millionair 💰
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I'm just a student of the game. Dealing with competition is a plus. Thanks Dan!
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I have three big gyms and two rehabilitation centers... i can say i am good at my job... BUT I MUST TELL YOU DAN... YOUR ADVISES ARE VERY VERY GOOD!!!! PERFECT!!!! THANKS FOR WONDERFULL ADVICES!!!!!! Best of luck from Dan😉💪
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Competition has been causing me anxiety this weekend; this is just what I needed to watch today. Thank you Dan Lok 🙏
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This is like so much what I needed to listen to. Thanks Dan
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we learn a lot from you, thank you very much 🙏🏻
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Just love your advice. And i get inspiration!!!
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Dan fire info man I will totally be implementing these tactics in my current business for sure man thank you so much
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Be the best at what you do! And you will never be worried about competition🔥
