Are you frustrated with the competition of established competitors and the resources they have at their disposal? In this video, I share 5 best practices on how to compete, because there's no one that cares more about your business than you.
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Related Video: 3 Stories You NEED To Perfect As An Entrepreneur https://youtu.be/ujU67JMH0wQ
Google Article: https://techcrunch.com/2013/11/04/google-launches-helpouts-paid-video-chats-with-experts-to-address-whatever-is-bothering-you-right-now/
I LOVE competition.
It fires me up.
A few years ago while I was building Clarity.fm, Google suddenly announced that they were launching a competing product. (read till the end to see what happened)
I can’t tell you how many friends messaged me with the link sharing their condolences...
... as if it was game over???
Umm.. not so fast.
Here’s the question I ask myself every time I discover competition in my space:
“Do they care more about solving my customers problems than I do?”
If the answer is no, then who cares.
No one at Google really, truly, DEEPLY gave a damn about helping entrepreneurs connect with other experts over the phone to solve their problems faster.
Still to this day, very few others share my level of enthusiasm.
Because entrepreneurship literally saved my life.
That being said, other than “caring more” there are a few key strategic ways to compete against the big dogs.
In today’s video, I cover the The 5 deadliest “slingshots” you get to aim between the eyes of the Goliaths of your industry.
For me, competing comes down to making smart strategic moves... here are the 5 that I go deep into:
1) Pick a Niche
2) Great Story
3) Product Hook
4) Customer Service
5) Transcending Vehicles
Many founders forget how powerful stories are.
“Whoever tells the best story wins.” ~ John Quincy Jones
That’s why it’s the second strategy.
What I would love to hear is how you’ve fended off bigger, better-funded competition?
Did you work backwards from the customer?
Did you double down on a niche?
Did you steal their employees? :)
I’m just curious ... leave a comment below with your top tips for the community and I’ll be sure to read / respond to everyone.
Have an incredible week!
Don't forget to share this entrepreneurial advice with your friends, so they can learn too: https://youtu.be/cOgFWHpIK7w
ABOUT DAN MARTELL
“You can only keep what you give away.” That’s the mantra that’s shaped Dan Martell from a struggling 20-something business owner in the Canadian Maritimes (which is waaay out east) to a successful startup founder who’s raised more than $3 million in venture funding and exited not one... not two... but three tech businesses: Clarity.fm, Spheric and Flowtown.
You can only keep what you give away. That philosophy has led Dan to invest in 33+ early stage startups such as Udemy, Intercom, Unbounce and Foodspotting. It’s also helped him shape the future of Hootsuite as an advisor to the social media tour de force.
An activator, a tech geek, an adrenaline junkie and, yes, a romantic (ask his wife Renee), Dan has recently turned his attention to teaching startups a fundamental, little-discussed lesson that directly impacts their growth: how to scale. You’ll find not only incredible insights in every moment of every talk Dan gives - but also highly actionable takeaways that will propel your business forward. Because Dan gives freely of all that he knows. After all, you can only keep what you give away.
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