3 Ways To Deal With Business Competition
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- Опубликовано: 3 окт 2024
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Do you also feel like the competition in your industry is massive? It’s not just your imagination. As more and more businesses come into your industry, your customers are getting more skeptical than ever. And that can drastically hurt your clientbase and damage your bottom line. So in today’s video, Dan Lok wants to share 3 ways to deal with business competition with you, so that you can dominate your niche and scale rapidly & profitably.
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#Advice #Competition #Business #BusinessAdvice #Entrepreneur
This video is about 3 Ways To Deal With Business Competition
• 3 Ways To Deal With Bu...
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"Competition challenge you to be better" , totally agree with this.
Be there when others give up.
Here’s how:
1. Study your competitors inside out. Your competition is not just from the same business, but other businesses too
2. Focus on how you can add value to your customer
3. Think long term, not short term. “I could wait 10 years to win this war” mindset can alter the way you think to last longer in this game
4. Bonus: why not profit from the competition? Partner up or collaboration?
😊😊😊😊
I love that word, profit from your competition. You can also make your competition go down, so you get their customers and stay on the edge
"If Someone Can Easily Copy What You Do Then You're Not Very Good At What You Do" Thanks Sifu Dan. I have followed you more than a year from now and I watched your very single video that you uploaded.
I'm watching this one as well and I use your idea and it works.
Very valuable lesson I needed
I like competitors... somewhere to send customers I don't wanna deal with. They become their problem.
I run a very small mowing business, so obviously, I have a lottttttt of competition. Best thing I can say is if you’re going to do something a lot of people are doing all you can do is try to do it better than everybody else. Customers will go with you rather than them because you do it better.
One more thing I can add:
"Avoid What is STRONG and Strike at What is weak"
- Art of War
Lets say you Compete with Walmart.
What Walmart is strong at? low Price right?
Avoid Competing at price!
Compete at something Walmart is weak at.
like they use under paid workers for long hours
or compete at High Quality.
I agree, but if you never challenge stronger/better competetors you'll never improve enogh to become the best at what you do, never! "Challenge the stronger ones if you wanna belong to the strongest ones"
its actually a lot stronger to tackle the strongest assests in a biz, because then the total percieved value decreases and customers have a worse outlook on the brand
well said
"If someone can copy what you do, then you are not very good at what you do..and study to your competitors inside out. Thanks allot Dan Lok I ve learnt allot and now I need to put it into action..
Competition has been causing me anxiety this weekend; this is just what I needed to watch today. Thank you Dan Lok 🙏
Same! He helps reassure us many times 😁
Did you get past the anxiety? If so, how?
Hey Mr Dan. I have been watching you for over a month now and in all honesty, watching you has been life changing on so many levels.
In many videos you speak about how many mistakes you used to make but when I look at you and watch your videos I get the sense that you are actually a kind person and a very genuine person it is almost tangible even on camera. Thanks for being honest always.
I agree! We can always learn from the competition. Learn how we can improve our skills based on what they do
This guy is my Mentor, i listen to him and he always makes so much sense
I'm just a student of the game. Dealing with competition is a plus. Thanks Dan!
The main reason that competition is good is that it keeps everyone on their toes. Most of us are willing to admit that if we have the option to be lazy, we’re likely to be at least a little bit lazy. With no competition, our mindset very quickly becomes that the business owns the customers, and they have no place else to go. Most of us remember what taxi companies were like before Uber and Lyft came along now taxi services are offering a new experience.
Be the best at what you do!
And you will never be worried about competition🔥
And how will you know that u r best..?
@@deepakbisht6471 if you learn everyday and every clients is happy, and your business is growing you're doing great
@@nicola-socialmediasuccess8687
That doesn't make you the best.
Your clients decide if you're the best at what you do!
we learn a lot from you, thank you very much 🙏🏻
Quality is the best marketing strategy
This is like so much what I needed to listen to. Thanks Dan
*Competitive business environments can have the paradoxical effect of discouraging would-be formidable competitors. Slowing down new entrants* 💪🌚
True! Thanks for pointkng that out
@@kericwu no problem!
Thank you sir.... you are the best mentor
I have three big gyms and two rehabilitation centers... i can say i am good at my job... BUT I MUST TELL YOU DAN... YOUR ADVISES ARE VERY VERY GOOD!!!! PERFECT!!!! THANKS FOR WONDERFULL ADVICES!!!!!! Best of luck from Dan😉💪
"Smart Work" is better than "Hard Work" to became a Millionair 💰
x- hubz amen
What if both smart and hard work running concurrently ?
I Liked The Part Loose The Battle But Make Sure You Win The War That Is superb
Print Right I liked that too
Right now, I'm very stress with my competitor and this video helps me a lot.thank u so much.
Thank you for the motivation Dan! It keeps me going. I wish you the best! :)
That moment""" i can wait..I got time""....I hit the like button with a smile after days...
Thanks Dan..
Just love your advice. And i get inspiration!!!
Amazing value Sifu! I remember you teaching us number 1 in HTC.
It's okay to lose battle because the most important is to win war. Nice quote Dan Lok.
Here's a question: what is the best method of rating employee performance so that good talent gets promoted?
💥The best way to deal with competition and be better than them is do what they are most afraid to do. How do you know what they are afraid of?
Answer: Exactly what you are afraid to do. You have been taught to copy from your competition. You spend a lot of time learning your competition that you become them, you are afraid to try what they haven't tried yet. Here is what you do, spend time unlearning them,you will become your own stronger self, you will go where they haven't yet gone and they will start to learn from you. Thats how you defeat the GIANTS in the market.
Super content. The last point is super deep and assuring.
Great video! Could you do a video on whether or not you currently keep a journal and how you use a journal for business, productivity, etc.
Maybe track KPIs ?
Stay consistent with your work
Competition challenge you to be better, totally agree with this
Dan you are my motivation
Superb One Dan Sir. Keep that in mind.. Will work on the same.. Thanks for making this video
Such awesome insights, thank you. I apply these same learnings to anything -- whether its growing a RUclips channel or its a hobby or its etc. Know everything about them and their customers.. And then use that knowledge and internal drive to add even more value to your customers and potential customers. Thinking long term applies to any long term goals you have.. Investing is a key focus of mine (in quality dividend companies), and the people who have the right longterm mindset are who have the best odds of success.
Hi Dan. I am in Portugal Real Estate and you are daily helping my team.
Thanks great mentor
That first statement made me think in corleone's fam.
Cheers Lok
I have friends that I tell about the ideas that I have for my business and they go and do it b4 me without i even knowing it so I learned a lot from this video
Same thing was happening to me.
Thanks Sir
Dan Lok, you are good at wat you do.
Am into some business but have learnt that competition helps you get new ideas, build you, etc so do it da healthy way. Like the food industry am in, even the simple things like cleanliness, speaking good to customers, listening to their missatisfactions could make bring u more customers. Jesus is Lord remember
Slow progress is the big thing, where planning and techniques are being built and founded. Endurance, staying power and right focus.
Ohh! You are just amazing. Your knowledge and experience throughout your videos represent a lot many things. Keep sharing it. Best wishes to you and your team.
We need part 2 of this videos dan
Dan fire info man I will totally be implementing these tactics in my current business for sure man thank you so much
Dan makes a great point. This explains why Huawei CEO was seen with iPad MacBook etc before the U.S shut them down
clear explanation!!
You are doing an awesome work by helping many people around the world. Thank you ❤️
There are many tips you have shared. Can you please guide us what are the steps we should be taking while we are starting a new business. Some people may be lost and some may not be sure where to start from. Something that will help us to think constructively. I will be very grateful 🙏
I love competition! But I love cooperation more. Clarity is my power.
superbbbbb videos!! thank you so much!
Thank you for these great tips!!! Very helpful!
AUTHENTIC..BEATS COPY..ANYONE WHO IS FOCUSED ON A RIVAL IS AT A LOSS,KEEP YOUR MODEL SAFE UNTIL REVEAL AND HAVE ATTORNEY BACK UP SET UP IN ADVANCE..ITS YOUR PROPERTY SO PROTECT IT..
Thanks for sharing your perspective Dan. I find it very useful and strategic 👍🏻😊
Relatively with time is also resources... I think there's a balance and trade off to play as well bc time is relative and resources are never enough
Thank you my master
I am glad I came across your content,I sell textile/fabrics in kenya,I am surrounded by people just want to see what I bring so they copy,it's gets to my nerves at times coz I risk to bring unique fabrics but this women when they see am selling they lack sleep looking for my product..
Thanks Dan, I love your content. When delivering a presentation or in a meeting, shall you mention or talk about your competitors and their products or no? Thanks in advance
Friends teach you what you want to know
Enemies teach you what you need to know
Sir I give full efforts we give best product to costomer and also appreciate satisfied but still not getting succes
Absolutely true...
true .thsnks . they are useful to me
Stay blessed!!!
Nice!!! I can learn so much from you.
Give your opinion on bitcoin? What do you think? Will succeed ? I wish it will.
Thank you very very much ..Dan Lok🥳
I like the jeff Bezos quote "DONT FOCUS ON COMPETITION, FOCUS ON CUSTOMER"
6:48 i love this part
Another great video!
Excellent advice teacher Dan...!
Nice teaching
Very true and powerful
thanks for your contents 💖
Thanks for extra tip!
Dan it is about price competition
Sifu Dan talks about art of war. Although the background makes it conversational and light. Scratch that, he makes it conversational and light. But heavy topic.
If someone can easily copy what you do, you aren't actually good at what you do.
Dan that's a god damn true
Thanks, i learn alot
Thankyou Dan for the Motivation 😍
This is great advice indeed 🤲🤲 good piece of work indeed 🙏🙏
Kindly advice us on how to sell fast when it comes to online marketing
Mr. Dan, thank you so much again for the video. I am watching with very very enthusiasm.
I would like to request you to do a video about 'recruitment ideas for a start-up service business'
I am thinking of starting up an event planning business and love to hear how should I do recruitments. I am a professional in Finance.
Idk what it was about this specific video but this was bad ass!!!
Hello,
1st time see ur video really like it. I like the way u make others to be confident abt themselves. Thank you
Thanks Sifu Dan Lok.... great ideas
Thanks a lot.
who are the right people to meet when selling products
"Don't be afraid"
Well over 10+ years roadside / towing and keep getting people literally setting up at my door.
I don't mind local competition but people should have their own game.
Had a guys clients come to my truck this morning because he insists on meeting them here.
Got angry. Lol
My town stopped requiring business licenses from out of town outfits about 10 years ago so had to accept competition that shouldn't even exist. Cant work for free or a deficit.
Funny you mention staying power. Its the only thing besides value offered that i have left. Have literally had people come and die in the time ive been around. Not an easy business.
Love your martial arts videos
1:20 yeah, it's not only your competitors but you gotta consider other options/alternatives they might have..
So great content, Thanks Dan
Thanks for giving the best idea and really its working
Wow thank you
@danlok, please if you are doing a B2B sales but your competitor to the target client is a giant, what do you do to achieve creating a successful niche when it even appear that you are not given an easy access to the DMU of the client's company?
Staying power.
Love from Bangladesh
This video is brilliant!
Thanks DAN for such awesome advice, what I have come to realize is that if one is willing to follow your advice no obstacles or nothing will stop him/ her from achieving his goals .
Please Dan I think you will agree with me this, no man will walk alone without delegating and achieve great success ,now you have a team working with you , " HOW TO BUILD A HAPPY TEAM THAT WANTS TO WIN ? I looking for more great strategies from you Mr DAN .