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TopicBusiness Competitors - 3 Differentiation Techniques For Your Small Business

  • Tue 26th Feb 2019 - 11:55am

    With the boom of information over the past few years, aspiring entrepreneurs and small business  Woodprofits  owners can easily start a business. Although this creates a healthy business environment, the space is becoming more competitive than ever. In this article about business competitors for small business owners, I am going to highlight 3 differentiation techniques that you can apply to set yourself apart from competitors within your niche or sector.

    Sometimes, business competition may create the false impression that the only way to survive is to completely give up your business. This is not true, especially nowadays where the costs of exiting a business is very high. With that, let us get started with the 3 differentiation techniques that will literally make your business competitors totally irrelevant.

    Stop Following Your Competitors

    A lot of business owners nowadays are sucked into the euphoria of copying what their competitors are doing, especially the market leaders. What they fail to realize is that what the competitors are doing publicly might not be the ultimate weapon that they use to win the race. Copying pushes your business deeper into the red bloody sea of competition, which you are already losing ground.To be different, you need to stop copying what your competitors are doing. Start to find reasons why customers return to you and broadcast the reasons as your unique selling point. It might be the quality of products that you offer or the shopping experience that you provide which your competitors are unable to offer. This also means that if one of your competitors start to slash their price, you don't need to cut your margins and get into a price war.

     

     

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  • Sat 20th Apr 2019 - 9:02am
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  • Tue 14th May 2019 - 9:29am

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  • Thu 11th Jul 2019 - 2:47pm

     

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