Starting a new business and having a lot of competitors to beat in the market to grow is the biggest challenge for any new business owner. In today’s internet era, even if you launch a unique product, you will get to see a competition in just a period of 2 days with the exact similar product.
To sustain in the market and to beat the competition is one of the most significant task a business man has to perform in order to get the desired revenue and run a profitable business.
Here are the few points every business man must keep in mind to beat the competition or to stand apart from the crowd.
Avoid Competition :
In today’s era even if you launch a unique product, you will see your competition launching the same product in next 2 days with same feature with just a different outlook or user interface. The only thing which definitely gives you an edge over your competitor is that your are a fist mover and the first mover always have an edge over others who started late or started after copying the product.
For example, There are many messaging apps released after WhatsApp, but because WhatsApp is the first mover, we all use it.
Try to swim in the blue ocean instead of hitting an axe while moving into the red sea.
Think differently :
Do you know why amazon became the best ecommerce company and Jeff Bezos became the richest man in the world ? The answer is, because he thinks differently.
There are thousands of ecommerce sites across the world but the way amazon beat them all with their own unique products is the lesson which everyone should learn.
The introduction of kindle device, kdp publishing platform, amazon prime, One day express fast delivery are just few of the products which are outcome of thinking differently and that helps amazon to stand apart from the crowd.
You have to think differently in order to achieve exponential growth in your business. See what new you can develop, what new marketing strategies you implement.
You will definitely see yourself grow as a businessman even if you have so many competitors in the market by setting up your own identity by thinking differently.
Don’t copy others :
If you are copying others, it means your are pushing yourself and your ship i.e. your business into the red sea where there is already a lot of competition. Moving into the red sea will kill your business or will not give you the desired outcome.
Copying anything is harmful, even if you are copying the exact same marketing strategy implemented by your competitor which gives him fantabulous sales doesn’t guarantee you the same results. So don’t copy anyone, be unique with everything you do.
Analyze the competition :
Analysis of what your competitor is doing, what strategies he is implementing, what work ethics he is following gives you a lot of help.
Don’t copy the exact thing, try to learn and then implement the new strategies, new ideas that will help you grow and your brand.
Modify your strategies :
In this modern era, where even an app needs an update just after few days you just can’t grow your business by using the same marketing strategies which you were using 10 years back, you have to update your product and strategies with certain period of time and by doing that only you get to see rise in your business and advantage in front of your competitor.