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Marketing Mistake #2 - Worrying about the competition

marketing Mar 16, 2021

The world of business is a busy one.  With so many businesses of all shapes and sizes doing their thing, we can easily fall into the trap of worrying about the competition.


I often hear concerns along the lines of "there are so many other, often more experienced/established, businesses out there doing the same thing, why would anyone choose to work with me?".


This can also be accompanied by concerns around "what if somebody copies me or steals my ideas or content?"


Let's think about coffee shops...


If you've ever visited London, you'll know there is literally a coffee shop on every street corner.  In fact, in most shopping areas of London every third or fourth shop is a coffee shop!


We could wonder how they all survive.  After all, coffee is just coffee, right?  They all have access to the same coffee beans and supplies of milk.  So how can so many coffee shops all offering the same thing, survive - let alone thrive - on the same highstreet?


Firstly, people want and love coffee.


Secondly, they won't all go to the same coffee shop, because each coffee shop has put it's own spin on the whole coffee-shop experience.  Different ingredients, flavours, packaging, decor, vibe.  Different brands offering a different experience.
There is room for them all.


This is especially true when it comes to professional services.  We're not selling a product or a widget that can be replicated or reproduced by someone else.  Service-based business (e.g. coaches, trainers, mentors, therapists, accountants, virtual assistants, etc.) are delivering value with a unique blend of experience, style, personality, values, ethos and energy. 


Take Business coaches and mentors as an example.  There are hundreds of thousands of us all over the world. Not everyone is going to resonate with the same coach and mentor.  My clients are drawn to work with me, because of who I am and how I am, as much as the expertise and experience I can list on my professional bio.


While it's useful to understand your industry's landscape and have an idea of who the key players are, it's important to do this with the right intent.  It's great to look around us for role-models, people out there showcasing what is possible in our industry - studying the success of others and thinking about what we admire about them can be a great source of inspiration - never to compare or copy...but simply to draw inspiration from as we blaze our own trail. 


Of course is important to do the business basics, like trademark our key brands and learn about how to copyright and protect our IP (Intellectual Property).  Howevere, even when I've been going through trademarking, I've always come at it from the angle of wanting to make sure my new brand isn't going to unwhittingly step on someone else's toes who is already out there using it.  Better to find out up front that a brand you want to use is already trademarked, than find out a few years down the line, when they might object and you have to undo all your hard work and start over.


This said, abundance mentally is key.  The pie is big enough for everyone, as the world is full of more clients than you and I could ever serve in our lifetime.  The clients who love you and your unique brand and style, will want to work with you over someone else they don't resonate so much with.


The good news is, when you master the  authentic marketing foundation called your 'Brand DNA' and infuse it into everthing you do,  you will become the irrestible, obvious choice, to your ideal clients.

Much love,

Nic x

p.s. Discover how your Brand DNA is part of the 5 essential authentic marketing foundations that will have clients seeking you out in my free Marketing Made Easy Checklist.

 

Nicola Huelin

Empowering one million Mums in Business – to build a business they love

Award-winning certified Business Coach & Mentor - www.mpower.global
Creator of FLOW for business and Marketing Made Easy

TEDx & Transformational Speaker - www.nicolahuelin.com

Author of The Invisible Revolution (listed in The Independent’s 10 best business books written by women)

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