Can’t Sleep Thinking About My Business Competitors
Is this a nightmare or a blessing?
In marketing there is a popular phrase that goes, “Competition means there’s a market”, No matter how true this is…
Can’t help but think, What the *Fanta do I have a chance?
To understand where I’m coming from, let me fill you in…
A while a go, I started a marketing business. More like an advertising and marketing agency. And inside our industry there are plenty of competitors leveraging the same channels as each.
That means, even though the marketing is there. The huge companies can spend more on ads without filling a pinch in their profits account.
But what about emerging businesses like me going against huge companies like this in the same channel?
Here’s my first take…
Find the gap
Like the story about David and Goliath,
May not be able to hold up the shield, the armor too heavy and the spear unbearable because of size. I just come in, the way I am. All the things I’ve learnt in my journey, experience and an open mind to do whatever it takes.
Yeah that doesn’t sound like a strategy. But you can argue it’s the basis of strategy formation.
Understanding from first hand what the market wants and the difference in understanding between myself and these companies is key. With what makes me unique from them, then I can,
Every dreamer has one fear in life. Of not doing something to make their dreams come to life despite these fears from competitors, road blocks and other considerations.
To cure it all. I got to gather good momentum. This is the only thing that will tell how wrong or right the approach is.
If the approach was right, Heck!
Scale using this same strategy that made it possible. If it’s wrong however,
Yaiks! that’s gonna hurt. It will be like falling to the mud on your face. Which is a life long lesson.
But all in all I’m crossing figures to hoping for the best.
Becoming a big competitor
Yeah, just like me having sleepless nights. it’s gonna be crazy to think that some day, God-willing I might be giving others the same chills at night. Hope you understand.
But all in all. This is not gonna be possible without tow things..
Developing the momentum and speeding up things by doing more of what’s working out for me while doing less of what’s pulling back.
Momentum means, spending more in reaching consumers of my services with a unique approach than other companies at a much quicker pace.
Thanks for reading my debate on the subject. If you’re growing a business and facing competition. I hope this resonated with you.
And if you’re are my future competitor. I hope we’ll have fun competing in the right way. LOL