Competition-What you are really competing with

Businesses think of competition in a very 'Limited' scope . They think that only those who are competing for their products or services are their competitors; direct competitors who are after their customers.

It's not that way now. Things have changed.

I tell my consulting clients that it's crucial to understand your competition on a broader scale.

Here's how I define competition - "You compete with EVERY Product, EVERY Business & EVERY Service which is trying to take money from your customers."

Read it Again. & Again.

Let's say you are a Doctor to A Real Estate company. You are NOT only competing with other Doctors in your field to make your patient accept your recommended treatment.

Or as a Builder, you are NOT only competing with other builders who are selling flats to your customers.

Both of you are competing with other businesses & services. Infact, with everyone who wants money from your customers.

That's the reason we hear things like "No, Doctor. We'll do the surgery after 6 months. We have just purchased a new flat."

& That's why you hear: "No Mr Builder. We need to postpone our decision because all the money we kept aside for Down Payment went into my father's surgery."

In a way, you both are competing with each other, & so are hundreds of others.

When you keep your view Limited only to your field or industry, you don't plan accordingly. You don't prepare accordingly. & So you don't market accordingly.

By now, you must be thinking that either this thing is ridiculous on this thing is profound! The fact remains that you are actually competing for the money in your customer's pocket. The money that has so many outlets that it can vanish in no time at all.

Either way, the best part is you are aware now of how your customers set their priorities.

Now it's time to set yours so that you can fight with this newly discovered competition!