Category Archives: CEO
Eliminating your competition is the easiest way to increase your chances of business success. When I say eliminate, I mean … take them out of your prospect’s consideration, so your prospects ONLY think of your business, product or service when they are contemplating making a purchase.
This is pretty easy to do if your business is not in a competitive industry. But let’s suppose you are in an industry where there’s a slew of compitition, like coaching, consulting, or speaking.
How can you make sure your prospects ONLY think of you — and therefore only BUY from you — and not all those other coaches, consultants, and speakers?
Here are 3 easy ways to elimate your competition.
(1) Find a position in the category that none of your competitors focus on that you can own (a Niche).
This will separate you from all the other businesses and will make you uniquely qualified in the eyes of your prospect to fill their specific need. It puts you in a class of your own and virtually eliminates the competition.
(2) By joining forces with your competitors
What the heck? Yep you heard me right! You can turn your competitors into a partners and prosper. Are there businesses or individuals with whom you could partner, with the idea of referring business to each other?
For example, a wellness coach could partner with a weight watchers clinic or a health club or a massage therapist. All of these practitioners are selling improved health and well being, but they can also be positioned as complementary services.
Or, let’s say you are a web site designer and you decide to focus primarily on working with small businesses (a market niche). You could create a partnership with another web site designer who has decided to focus on large corporations.
If you both agree to only take on business that fits your identified niche, and to refer business outside your niche to the partner, you both win.
(3) Being YOU
Remember this: No one does exactly what you do. Or in the quite the way you do it. When you are your authentic self…You will attract those who naturally connect with your personality and stye of doing business. Develop your own signature system and process. Name it and Rock It!
Check out this quote from a well known superstar that rocked his own style:
“My mother said to me, ‘If you become a soldier, you’ll be a general; if you become a monk you’ll end up as the Pope.” Instead I became a painter, and wound up as Picasso.”~ Pablo Picasso. Just be you, and share your Light with the world. You really are more than enough.
There is not a business out there that cannot effectively use one of these two strategies to significantly reduce their competition. So figure out which strategy fits your business best, and make it a priority to eliminate your competition this year.
Here’s the deal. Wealthy individuals, and many who have plans to build wealth, hire financial planners. What is a financial planner’s job? They manage assets. One of the most common problems that business owners face is not in management of their assets but in managing their debt. The more wealth people have the more debt they usually inccur and in order for the business to grow they must have access to capital (aka Mulah, Money, Cash). Access to capital usually means creating more debt. The key is to properly structue or create the debt. To do this successfuly requires strategies that most business owners are not trained or prepared to do.
Managing Business Debt is not just about paying your bills on time. When done properly you can create a well oiled machine that turns your company into a widly successful thriving enterprise.
Manage Business Debt Effectively
Leverage ALL of Your Companies Resources
Create Assets an Increase Cashflow