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Success Advice

4 Reasons Why Your Competitors Are Doing Better Than You

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business competition
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Competition is the very essence of the business world. While this might be advantageous for customers who are looking for and choosing a company that serves them well, this is quite tedious and difficult for entrepreneurs. To excel in a profession like business is not everyone’s cup of tea.

The data shows that most enterprises are likely to fail within their first 18 months. One big reason for this is because of the competition they face in the market. For those who survive, a harsh rivalry exists, so it becomes extremely important to keep a tab on potential rivals while frequently updating your own company.

Here are 4 possible reasons why your competition is doing better than you:

1. Social Media Presence and Reputation

Social media has recently gained much weight in the field of business. Your social media followers and their feedback are important indicators of one’s presence and reputation in the competitive landscape.

Most of the companies now use different social media platforms such as Facebook, Instagram, Twitter and LinkedIn to promote their products and services. When a company is better recognized for the kind of posts it makes and products it promotes, your rivals will likely do what they can to get in on the action.

I’m very active on social media and see the huge impact it has on engaging with fans and being able to have a voice.” – Stephen Curry

2. Niche Rank

When statistics indicating the ranking of companies are released, it’s important to see where you are and what you can do to get better.  

What makes it even worse is the absence of one’s brand name in the list, indicating that some serious matters need attention and extra work. A brand name should undergo trademark registration to safeguard brand’s identity.

This way you can promote your brand name without worrying about it being infringed by anyone. It is always better to protect your business legally so your competitors do not take advantage of your negligence.

3. Google Ranking

Digital marketing is another powerful method to get leads and turn them into potential customers. However, what if one’s website appears below the required level on the SERP or not on google’s first page?

The website of an company which operates in the same niche may take all possible leads if it is on top. Chances are that the one appearing above or at least on the first page of google search will steal the show, leaving behind the ones who lag behind in SEO ranking and the quality of content.

To be in the race of top rankings, you can improve the quality of your content and re-purpose it to reach the maximum amount of people. Focus on the requirements of your customers and draft the content accordingly.

“Content isn’t King, it’s the Kingdom.” – Lee Odden

4. Less Sales and Customers

At the end of the day, what actually matters in the business world is the revenue you make. Customers are clear descriptors of whether your company is gaining recognition and revenue.

Despite delivering excellent service to customers, sometimes companies end up getting less customers, which can easily be traced to the better methods of rivals and a good investment in customer management programs.

Keep this in mind

Stalking every newcomer in within your niche is near impossible. While tracking new competitors is a tough job, it is even harder to calculate the number of customers they have.

Hence, the only way one can survive is by taking advantage of situations that actually call for a showdown. As one cannot stop new enterprises from entering the market, it’s important you focus on your customers and give them what they want.

The kind of service provided actually helps your company gain much better results than only using similar tactics used by potential competitors. Do something that surprises clients and keeps them happy will always give you the upper hand when dealing with competitors.

How do you stay ahead of your competitors? Share with us below!

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Success Advice

20 Ways You Can Become a Powerful Communicator

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Emile Steenveld Speaker and Coach

Some people seem to naturally know how to effectively communicate in a group setting. They can express themselves clearly and listen attentively without dominating the conversation.

Being a powerful communicator is important for several reasons, including building and maintaining relationships, achieving goals, resolving conflicts, improving productivity, leading and influencing others, advancing in your career, expressing yourself more confidently and authentically, and improving your mental and emotional well-being. Effective communication is an essential life skill that can benefit you in all aspects of your life.

But, don’t worry if you don’t naturally possess this skill, as effective communication is something that can be developed with practice, planning and preparation.
 

1.  Listen actively: Practice active listening by giving your full attention to the speaker and responding to what they are saying.

 

2. Use “I” statements: Speak from your own perspective and avoid placing blame or making accusations.

 

3. Avoid assumptions: Don’t make assumptions about what the other person is thinking or feeling.

 

4. Be clear: Express your thoughts and feelings clearly and concisely by getting to the point and avoid using jargon or overly complex language.

 

5. Show empathy: Show that you understand and care about the other person’s feelings.

 

6. Offer valuable insights: When speaking in a group, provide a valuable takeaway or actionable item that people can walk away with.

 

7. Be an active listener: Listen attentively and respond accordingly, incorporating your points into the conversation.

 

8. Choose the right time: Pick the most opportune time to speak to ensure that you have the group’s attention and can deliver your message without interruption.

 

9. Be the unifying voice: Step in and unify the group’s thoughts to calm down the discussion and insert your point effectively.

 

10. Keep responses concise: Keep responses short and to the point to show respect for others’ time.

 

11. Avoid unnecessary comments: Avoid commenting on everything and only speak when you have something important to say.

 

12. Cut the fluff: Avoid being long-winded and get straight to the point.

 

13. Prepare ahead of time: Sort out your points and practice them before speaking in a group.

 

14. Smile and be positive: Smile and nod along as others speak, to build a positive relationship and be respected when it’s your turn to speak.

 

15. Take responsibility: Take responsibility for your own actions and feelings.

 

16. Ask questions: Ask questions to clarify any confusion or misunderstandings.

 

17. Avoid interrupting: Allow the other person to finish speaking without interruption.

 

18. Practice active listening: Repeat what the other person said to ensure you have understood correctly.

 

19. Use your body language too: Use nonverbal cues such as eye contact, facial expressions, and body language to convey your message and build rapport.

 

20. Be aware of the tone of your voice: it should be calm and assertive, not aggressive or passive.

 

By keeping these tips in mind, you can improve your communication skills and become a more powerful communicator, which can help you build better relationships, achieve your goals, and lead a more fulfilling life.

I you want to learn how to become more confident in life then you can join my weekly mentorship calls and 40+ online workshops at AweBliss.com so you can master your life with more success.

 
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Success Advice

Dead Men Tell No Tales: How to Navigate a Mutiny as a Leader in 10 Steps

You’re the manager. You’re the supervisor. You’re the leader. But maybe your people don’t see it that way

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You’re the manager. You’re the supervisor. You’re the leader. But maybe your people don’t see it that way and perhaps that has created a divisive and adversarial working environment that makes it difficult for you to influence and inspire your team in a way that meets your vision. (more…)

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Success Advice

How to Think Like a CEO for Your Future Success

A blueprint for CEOs to draw a disciplined strategy

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Strategic thinking helps CEOs build successful businesses. It helps them establish everlasting enterprises. It is one of the key elements of decision-making. It is different from strategic leadership. It differentiates between leaders from managers.  (more…)

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Success Advice

How to Focus Your Mind on Your Goals in 2023 Constructively

In this world of distractions due to information overload, it has become a big challenge to focus our minds

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In this world of distractions due to information overload, it has become a big challenge to focus our minds on positive aspects and constructive activities. Sometimes we waste our precious time mentally and physically due to distractions arising out of technology. We must understand our priorities and learn how to focus on them religiously. (more…)

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