Our competition isn’t just there to beat. They can also teach us how to get better at what we are doing so that we can beat them at their own game. I see my competition as a bar set for me to jump over.
In the business world, anything goes. While some people like to think of scoping out and spying on the competition as a bad thing, I love looking at everything they are doing through a spy glass. This gives me insights into what’s working and I should focus my time on and what isn’t working and I shouldn’t waste my time.
Here’s what my competition is teaching me about productivity across various aspects of their company that’s helping change my business for the better:
While I never copy my competition’s content, I read what they have, if they use a call to action, how they approach what is shared and how often they update their content.
Look to see if your competition is using video, infographics or some other type of content that resonates with your shared audience. It’s also good to know where they are sharing this content to see if there are any places I’m missing opportunities to add or
As our society moves further into the digital age, more of the income from businesses will come from sales online. Every year, we see sales shift from physical stores to the websites of companies, and online business. There is a tremendous opportunity.
While the opportunity is there, so is the competition from many other entrepreneurs who are trying to reach the same people. There’s a lot of noise online from self-appointed experts claiming they know how to write copy that converts. You’ve probably seen a Facebook ad or two that makes crazy claims of success.
There is a way to grow and build a thriving online business despite the competition. It starts with making smart choices. There are four dumb mistakes even those who are smart make without even realizing it. These mistakes could be keeping you from growing your business and reaching your goals.
1. Focusing too much on the “busy work.”
There are many components and things that need to be done to build an online business, or the online part of your business. It’s easy to get stuck on what I call the “busy work.” The busy work can be things like:
If you were to track the rise of ecommerce in today’s business landscape, you’d have to go back to the dot com crash of 2000. Despite a tanking economy, the businesses that survived the crash quickly started adapting their selling methods, because, even with an economy going down the drain, it was clear that the Internet would hold the key to the future of sales.
Fast forward to 2015 and the U.S. Census Bureau releasing a report on the dollar amount of ecommerce sales that took place within the first quarter of the year — the total amount was 80.3 Billion — and it’s clear to see that ecommerce is only getting stronger. Today’s consumer has time management and convenience on their mind when it comes to purchasing those sweet luxury or necessity items that you’re marketing to them. But, to be on your A-game, you have to be using the right platform to maximize your sales potential.
Related: The Top 5 Reasons You Should Start an Ecommerce Business
Whether you’re struggling to create a pre-ordering option within your current ecommerce marketplace, or you’re anxious to find out how your warehousing setup will interact with your online store, there
As you’re reading this, customers all over the world are spending millions of dollars online. It’s estimated that 2.5 billion people log onto the Internet every day. We live in the Information Age, which has created new opportunities to start or build a business using the power and reach of the Internet.
While the opportunity is there, so is the competition. You can Google any topic and find at least a few entrepreneurs who are serving the market related to that topic. Whether you are growing an existing business through the Internet or starting an online business, you will have to stand out to thrive.
The Internet offers you the opportunity to create a business you love around the lifestyle you want. Operating a business that generates income from anywhere in the world no longer a fantasy. In fact, I’m writing this article on a flight from Maui to Panama. My business is making money as I fly. Here are five steps to create a profitable and successful online business.
1. Pick a profitable topic.
Choosing a topic is a hard enough task on its own. Making sure it’s profitable is where some entrepreneurs sabotage their chances. To create a business your customers have to
Branding is what differentiates a company from the rest of the pack. From the logo design to the message and marketing tactics, companies need to create an identity that attracts customers and gives them visibility within their market. But coming up with a branding strategy isn’t easy. Fortunately, we have Laura Ries to provide some insight.
Ries is a leading marketing strategist, bestselling author and television personality, frequently appearing on shows including O’Reilly Factor and Squawk Box. The books she has authored, or co-authored, include The 22 Immutable Laws of Branding, The Origin of Brand, Visual Hammer and her latest, Battlecry, which outlines five tactics for increasing the effectiveness of a company’s logo or tagline.
For her day-to-day work, she, along with her father Al, are the co-founders of Atlanta-based focus-consultancy firm Ries & Ries, where they help brands find and define their focus. The duo have worked with companies across industries, including Microsoft, Ford, Disney and Frito-Lay, among others.
Because of her achievements, Ries has received a number of accolades including the Atlanta Business Chronicle giving her a spot on its “40 Under 40” list, and in 2009, readers of Advertising Age named her book The 22 Immutable Laws of Branding the third most important
I once knew a marketing guy who always thought he could shape-shift the numbers and make them look good. That guy got fired from his job and cost his company hundreds of thousands of dollars. I once knew a company who was afraid to try anything new. Well, that company’s competition blew them out of the water over the next three years with a series of creative campaigns. They had to lay off half their staff.
Businesses live and die by their marketing strategies. Here are seven core marketing mistakes that could put your company six feet under.
Related: 9 Marketing Mistakes That Cost Your Business Money
1. Not taking the time to hear what’s new
The marketing landscape is always changing, part of the job of a good marketer is to stay on the cutting edge of new industry trends. While it might be easier to simply stay focused on what you already know and disregard the latest research and tools, that’s not a recipe for success. Simply put, part of your job is to innovate.
First, make sure you begin each quarter with fresh competitive analysis. What are your competitors doing successfully that you’re not? Do
Entrepreneurship involves a lot of planning, writing, calculating, paper-filing, marketing and more. Each of these eight moms did it all — with a kid on her hip.
But how did they do it? Caring for family is a major and time-consuming commitment that leaves little physical and emotional energy behind for business ventures. What’s more, most of these mompreneurs had full-time jobs when they began considering starting a business, compelling them to make major life decisions that couldn’t have been easy on the mind or the heart.
Related: 10 Single Mom Entrepreneurs Share Their Best Business Advice
Against all odds, however, all eight mastered the art of balancing business, family and self — and in a way that, from the outside, looks totally effortless. Here’s how they did it.
By recognizing opportunity
Doctor Shannon Davis PT, DPT understood the need for a carpet-, tile-, and wood flooring-compatible balance device that would allow children to move independently one night when she noticed her baby struggling to chase a family pet around the house. After a slew of prototype tests and instances of trial and error, Shannon devised the perfect product: the Little Balance Box, which safely helps babies