Knowing Your Competition

Not only should you know about your own business, but you should know about your competition. Who is your competition first off, and how far are they located from where you’ll be? Do you offer something different or unique, or have something that makes you stand apart? How do you compare?

Let’s say that there are 3 similar stores within a 10 mile radius of my house. If store A and store B offer the same product, and you don’t offer a difference in price, value or selection…why do I need a store C? It’s those things that make you stand apart that will gain you new clients. If a customer or client is happy where they are, they won’t feel the need to try the new business in town. How are you different? Why should they try your business instead of where they’ve been going?

How can you become more valuable to that potential client or customer? If you’re just a little bit farther, what will get them to come to you? If you’re new, why should they trust you over the loyalty they have to the other business?

These are all questions to ask yourself…what makes you stand apart? Would you choose going to your business over the other ones nearby?