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Your Business Mindset

Call Allan Smith on 07789 077571 or email allan@yourbusinessmindset.com

Who are your true competitors?

This week, I was working with a small business that provides services to golf courses. We were honing their sales proposition to align with their ambitious growth targets for the next three years. Naturally, we discussed their competitors. Typically, business owners focus only on other companies offering similar products or services to the same target market. They craft their sales pitches around these direct competitors.

Rule #1: Identify the real competition

In my experience, most businesses have three far more formidable competitors that need addressing before considering other companies. From a prospect’s perspective, these competitors are:

1. I’ll do nothing
2. I’ll do it myself
3. I’ll do it later

Rule #2: Craft compelling arguments

After a lively discussion, we developed powerful arguments to counter these three alternatives. We emphasised:

– The cost of doing nothing: Highlighting the risks and missed opportunities.
– Their expertise: Demonstrating the value and efficiency they bring compared to doing it oneself.
– The dangers of delaying action: Showing how procrastination can exacerbate problems and increase costs.

Rule #3: Address traditional competitors last

Once we tackled these core competitors, addressing their identified industry competitors was straightforward. Honestly, that was the easy part.

The Real Lesson Here

Sometimes, it’s essential to return to the basics. By understanding and overcoming these fundamental competitors, businesses can create a more compelling and effective sales proposition.

Next Steps: Unlocking Your Team’s Potential

At Your Business Mindset, we focus on uncovering the root causes of performance issues. We won’t inundate your team with new techniques; instead, we identify what’s holding them back. Each person will then create their own system to meet the business’s needs. When people devise their own solutions, they take ownership and drive their own performance.

Want to learn more about how we can help your business? Call or WhatsApp me on 07789 077 571 to discover our approach and see how your business can benefit from our expertise and experience.

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