Barriers to Entry – How do you create barriers entry?

how do you create barriers to entry it’s
a great question one that came in from
one of my newsletter readers nazzer ki
hope I pronounced that properly and it’s
great because you need to have something
different about your business right you
gotta have some way to send out if
you’re doing something different then
everybody copies you if everybody’s
doing the same thing then then it’s
again hard to stand out it’s hard to get
people talking about it’s hard to drive
more traffic to your store to your
website you has hard to get people to
buy from you so the zhurqis wrote in
saying you know he’s making a new
product and besides licensing how can
you create unfair competitive advantage
for other companies not to copy you what
barriers can we create for competitors
into the market thanks a lot so there’s
a couple main ways to create barriers to
entry for your business and a lot of
them are not as easy to achieve as
others so let me go through them the
first is a monopoly okay you own
everything so if you own all the trees
then somebody wants to buy trees they
have to go from you right they have to
buy from you that model is super hard to
do nowadays right if you’re if you’re
creating you know apps and smartphones
and iPad apps how do you own the market
you can’t the second thing is to have a
patent so you’ve created some new
technology and you patent it so that
nobody else can copy it patents are
great but it’s so easy especially with
the technology patent it’s so easy to
change one little thing and companies
can skirt their way around the patent so
they can still steal your ideas they can
still copy and put it into their
business it’s still great to have
especially if you’re going for funding
or such as you’re trying to get acquired
with your business the patent can be
really helpful for you it makes you look
like you have some momentum with your
company but at the end of the day
competitors are still going to get in
cup what you’re doing the best way the
third way in my opinion to the create
this art affaire advantage is to pour
yourself into your business you think
about what makes you different think
about why you’re starting this business
so the business here is apps for
disabled kids to make their studies
simple and fun
why do you want to do this do you have a
disabled kid were you disabled when you
were a child what is driving this
passion to help disabled kids I think
it’s noble cause I think it’s great I
think there’s a lot of opportunity but
why are you doing this you need to pour
yourself into your business you need to
make people want to buy from you and the
experience that they get buying from
your business what’s the reason behind
this thing how can you make your
creativity shine through and what you’re
doing that’s something nobody else can
copy because nobody else is you nobody
else can make it personal the way you
can because that’s your unique
experience that’s the way to send out
especially in a competitive market right
how many iPad iPhone apps are out there
tons is get it’s growing by the second
it’s crazy how do you stand out most of
the apps are coming out or me – they’re
copycats are not unique they’re not
creative they’re not original and as a
result nobody downloads them nobody buys
it nobody upgrades on them the way to be
unique be different have a sustainable
competitive advantage is to pour
yourself your heart your passion into
your business because nobody can copy
you for those you’re watching if you’re
in a competitive business and most
people are if you’re real estate agent
if you’re a life insurance agent if
you’re a technology developer you have
tons of competition your real estate
agent think how many real estate agents
are out there why should I hire you
versus somebody else you have to pour
yourself into it what do you stand for
what do you believe why are you doing
this because it’s not to make money
money comes but there’s something else
that some reason that’s driving you and
that’s got to come through think about
my business help entrepreneurs how many
people help entrepreneurs tons of people
help entrepreneurs what’s different
about me why do you guys come and watch
my videos why do you subscribe to my
newsletter subscribe to my youtube
channel on Twitter on Facebook
buy my worksheets why are you involved
in what I’m doing because it’s me you’d
like what I share I share my personal
stories
I add my Evan touch to everything that
I’m doing if I tried to be exactly like
somebody else it’s not going to work
somebody can’t be me if you wanted to
help entrepreneurs you couldn’t do
exactly what I do you could
be ever you have to be you you’d have to
find your own way to do it that’s where
your success will come I have a
long-term sustainable competitive
advantage unfair advantage huge barriers
to entry because nobody else can be Evan
Carmichael and that’s the same thing you
need to bring to your business you’re
not just making apps you’re throwing
yourself into it and nobody else can be
you that’s your long term advantage
believe those you’re watching liked the
video please give a thumbs up below it
always makes me want to do more for you
and please leave a comment below let me
know what you think your comments drive
me every day to want to do more to help
entrepreneurs you get me motivated every
day when I wake up and read so please
leave it below leave a question let me
know below – I make a video response
thank you so much and I’ll see you soon
you