Starting out in a new market can be scary. It’s natural to look around at the competition and be discouraged. What if I told you that you can outperform your competition as an underdog? All it takes is hard work and strategizing. You can niche down and corner your market.
It’s up to you to stand up for yourself and prove that you can make it. Today I’m going to share five tips to overcome that competitive anxiety.
The first piece of advice I have is to make your biggest weakness your biggest strength. If you’re a small business, capitalize on that. Position yourself as different and unique. Chances are you can dedicate yourself to the client experience more than a big company that’s just looking for results.
Secondly, you want to niche down. Hone your specialities. Sell your differences and make yourself the biggest fish in the smallest pond. Once you have a solid foundation, you can expand.
The third point is to use story. Relate your truths and identity to your audience. Build your community and your bonds with your audience. Show them who you are.
My fourth tip is to build a competitive moat. Look at what others in your market aren’t willing to do because it will be a long process or it’s expensive. Then, do it. Customers are looking for these problems to be solved, and big companies often won’t take the time to do it.
Finally, the fifth piece of advice I have is to outlast the competition. All the previous tips I have given you will help you to stay the course and build that solid reputation. It will take time.
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