The first type of competition that can very easily and efficiently steal your sales is often competition that most sellers don’t even think about.
Your first competition is you and the first sale you ever need to make is to yourself.
Think about it. If you don’t have a strong belief in yourself, in your services and your products, how can you ever sell them effectively?
Make sure that your mindset, your resilience, your self-esteem and the faith you have in your own offerings are unwavering. Without this fundamental key, you’re going to have a hard time instilling belief in anyone else.
The second competition type, which in some cases, is potentially even more surprising than the first, is the status quo. Why?
Today’s marketplace is risk-averse. It’s so easy for your customers and buyers to simply “tread on” in their businesses and continue with “business as usual” rather than invest in products and services that can take them to the next level or solve problems that aren’t immediately posing a visible threat to their business.
The best way to deal with this kind of competition is to get crystal clear on your strongest unique value propositions. You want to highlight to your customers the elements of your offerings that might make them do a double take. It’s the best way to stand above the noise and get your buyers to reconsider their state of status quo and encourage them to take action.
Everyone thinks about other businesses as their competition. Sure, your competitors are surely thinking of ways to snatch up the marketplace for themselves and you can’t afford to not consider other companies when thinking of competition.
Yet, the most insidious competition could be the two above that most sellers may not be currently recognizing. Don’t let them fly under your radar.