Post
Topic
Board Economics
Re: Can one face competitors in business and still succeed. And how?
by
Felicity_Tide
on 01/11/2024, 17:22:13 UTC
You can imagine successful setting up a business in a well suitable location and then just when you think things are getting better and enjoying your peace of mind. You find out that another person gets to set up the same business as yours very much close to you.
If this isn’t envy what else should it be call?
I mean you scouted the place and that is when others wants to buy in to the same idea.
Even if they want to start a business in the se location why the exact business some other person had on going.

Quite interesting topic. First, I want you to understand that it is a human nature to envy others especially when they are doing well, but how you control or manage that envy matters. You have to understand that the person who choose to move to your business location and offer similar service feels that he/she can offer a better service to outsmart yours, and I believe you know that anyone who offers a better service gets more attention.

Quote
Please I need ideas to be shared so one can find a solution to problems like this. And others who has intention of going in to business won’t be a problem or look like they’re being a competitor to the already existing business owners. this is the reason for this trend

Now, even though I'm not a marketer or business expert, I might want to share my own opinion from the consumer/buyers aspect because I think it matters.
You have to understand that what consumers needs is a product that they can trust, and a trust product must come from a genuine or unique dealer. You have to be different. You have to offer a unique service. I have purchased products from people and end up regretting it. And when a consumer regrets purchasing a product, I bet you that he/she will never go there again.

And one other thing is, try as much as possible not to make mistakes. Mistakes like looking down or not giving attention to customers can give upper hand to your competitor. Some mistakes can even drag a business down forever.

You don't have to feel threatened. Just see it as a competition. I guess you haven't heard of stories of companies like Nike and others, or the massive competition between coca cola and Pepsi. These are companies that where able to compete so well. Just do your thing.