how do you respond to the competition
look whatever business you’re in there’s
going to be tons of competition if
there’s no direct competition you have
indirect competition you look at
something that’s brand-new you look at
you look at the the Tesla electric
roadsters maybe nobody’s done that
before but what our people are buying
they’re buying other cars but you always
have competition and they’re always
going to be aggressive everybody wants
to win you’re going to have constantly
aggressive competition so how do you
respond when they reduce their prices
should you reduce your prices to what do
you do as a result the most important
thing here is with your business you
have to have something that sets you
apart ok it’s not just whatever product
or service you’re selling there’s has to
be something unique about your business
how you offer it so that when people
come to you they’re not you’ll have a
direct competition that they’re going up
against they’re buying you for a
specific reason
because nobody can offer the quality of
service or the line of product that you
have you have to give them a reason to
want to buy from you over somebody else
this comes as a result from a question
of my newsletter list Taiyo who wrote in
to say I have a question what’s the best
thing to do when a direct competitor
reduces their prices do you reduce your
prices offer discounts have promotions
what do you do I look forward to hearing
from you tie a great question and the
loser is game is to start reducing your
prices because you’re just kind of race
to the bottom and you’re going to end up
undercutting each other
undercutting each other undercutting
each other and end up with no money left
right entrepreneurs we don’t charge
enough and it’s because we’re not
bringing enough value you’ve got to
figure out a way to not work such a
competition and bring more value to your
customers because there’s always a
cheaper option whether it’s your store
down the street whether it’s a guy
online whether it’s your high school you
know nephew there’s always competition
is always a cheaper option going with
you and you don’t want to be the
cheapest option that is never the path
to long-term success you can’t compete
on price you have to add more value and
here’s an example comers will hire me to
create content for their website okay
you want me to write a blog post for
your site it’s gonna cost you twenty
five hundred bucks twenty five hundred
bucks maybe that takes me half an hour
to write that’s gonna be the best blog
post that’s ever gone up on your site
you’re gonna have more shares you’re
gonna have more life you’re gonna have
more engagement you’ve ever seen on your
website and companies will come to me
and say 2,500 bucks you’re like half an
hour of work I could get somebody to do
it for 500 bucks I get somebody do it
for 100 bucks you can get people to do
it for free
I don’t care it’s not going to be as
good you’re coming to me because you
want me because I’ve separated myself
I’ve differentiated myself and I’m
working with ideal clients if you don’t
have the budget to Ford that twenty five
hundred bucks
then I’m not working with you I’m
working with different clients and
you’re gonna have the guys who come to
you only for price you cut your price
you’re gonna have new clients you raise
your prices those super price conscious
customers are gonna go those aren’t the
guys you want you want the people who
see the value in your business and it
starts with you adding value so whatever
product it is that you’re selling you’ve
got to figure out a way to add more
value to it to either create your own
new line to add something to that
products it’s not being sold the exact
same product by your competition you add
a level of service on top of it that
nobody can match something you’ve got to
figure out a way to add more value and
then only work with the clients who are
ideal clients who love this stuff who
eat the stuff up people who value the
service people who value the extra work
you’re putting in and don’t worry about
the rest of the guys let your
competition
fight to the bottom of the barrel for
the low price guys there’s always room
at the top for quality go to the top be
the best of what you do attract the
loyal following and you can charge them
more for whatever you’re selling stop
worrying about the competition and focus
on adding value to your customer belief
so those are you watching like the video
please give it a thumbs up below makes
you want to do more and leave a comment
below leave a comment please let me know
what you think you have a question put
it below make a video response thank you
so much and I’ll see you soon
you
look whatever business you’re in there’s
going to be tons of competition if
there’s no direct competition you have
indirect competition you look at
something that’s brand-new you look at
you look at the the Tesla electric
roadsters maybe nobody’s done that
before but what our people are buying
they’re buying other cars but you always
have competition and they’re always
going to be aggressive everybody wants
to win you’re going to have constantly
aggressive competition so how do you
respond when they reduce their prices
should you reduce your prices to what do
you do as a result the most important
thing here is with your business you
have to have something that sets you
apart ok it’s not just whatever product
or service you’re selling there’s has to
be something unique about your business
how you offer it so that when people
come to you they’re not you’ll have a
direct competition that they’re going up
against they’re buying you for a
specific reason
because nobody can offer the quality of
service or the line of product that you
have you have to give them a reason to
want to buy from you over somebody else
this comes as a result from a question
of my newsletter list Taiyo who wrote in
to say I have a question what’s the best
thing to do when a direct competitor
reduces their prices do you reduce your
prices offer discounts have promotions
what do you do I look forward to hearing
from you tie a great question and the
loser is game is to start reducing your
prices because you’re just kind of race
to the bottom and you’re going to end up
undercutting each other
undercutting each other undercutting
each other and end up with no money left
right entrepreneurs we don’t charge
enough and it’s because we’re not
bringing enough value you’ve got to
figure out a way to not work such a
competition and bring more value to your
customers because there’s always a
cheaper option whether it’s your store
down the street whether it’s a guy
online whether it’s your high school you
know nephew there’s always competition
is always a cheaper option going with
you and you don’t want to be the
cheapest option that is never the path
to long-term success you can’t compete
on price you have to add more value and
here’s an example comers will hire me to
create content for their website okay
you want me to write a blog post for
your site it’s gonna cost you twenty
five hundred bucks twenty five hundred
bucks maybe that takes me half an hour
to write that’s gonna be the best blog
post that’s ever gone up on your site
you’re gonna have more shares you’re
gonna have more life you’re gonna have
more engagement you’ve ever seen on your
website and companies will come to me
and say 2,500 bucks you’re like half an
hour of work I could get somebody to do
it for 500 bucks I get somebody do it
for 100 bucks you can get people to do
it for free
I don’t care it’s not going to be as
good you’re coming to me because you
want me because I’ve separated myself
I’ve differentiated myself and I’m
working with ideal clients if you don’t
have the budget to Ford that twenty five
hundred bucks
then I’m not working with you I’m
working with different clients and
you’re gonna have the guys who come to
you only for price you cut your price
you’re gonna have new clients you raise
your prices those super price conscious
customers are gonna go those aren’t the
guys you want you want the people who
see the value in your business and it
starts with you adding value so whatever
product it is that you’re selling you’ve
got to figure out a way to add more
value to it to either create your own
new line to add something to that
products it’s not being sold the exact
same product by your competition you add
a level of service on top of it that
nobody can match something you’ve got to
figure out a way to add more value and
then only work with the clients who are
ideal clients who love this stuff who
eat the stuff up people who value the
service people who value the extra work
you’re putting in and don’t worry about
the rest of the guys let your
competition
fight to the bottom of the barrel for
the low price guys there’s always room
at the top for quality go to the top be
the best of what you do attract the
loyal following and you can charge them
more for whatever you’re selling stop
worrying about the competition and focus
on adding value to your customer belief
so those are you watching like the video
please give it a thumbs up below makes
you want to do more and leave a comment
below leave a comment please let me know
what you think you have a question put
it below make a video response thank you
so much and I’ll see you soon
you
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