The $100 MBA Show MBA1364 How To Compete In a Highly Competitive Market
There’s a ton of competition for you, but you’re ready to play anyway. So how do you win?
If you’re diving into a crowded, highly competitive market (think fitness coaching or social media app development), there’s a single fact you have to accept: having a great product isn’t enough. You’ve got to have more than just the best thing to sell.The sooner you learn this, the better.
A fantastic product is a floor, not a ceiling.
Today, we discuss what you have to do to have any chance in a space with tons of other companies. We would know: we’ve both succeeded and failed in competitive markets (It turns out we’re not the only business coaches or SaaS developers out there. Who knew?).
Today’s advice might sound…off to you, at first. It’s counterintuitive, and it involves letting go of certain customers (a lot of them, actually). But it’s tried, it’s true, and it’s the best hope for any entrepreneur bold enough to take on an army of other businesses. Click Play!
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Today’s Sponsors
Fizzle
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Capital One
With the Spark Cash card from Capital One, you earn unlimited 2% cash back on all your business purchases. Think about it – unlimited 2% cash back on everything you buy for your business. That cash back can add up to thousands of dollars, which you can reinvest back into your business so you can keep growing. Imagine what unlimited 2% cash back could do for your business. Capital One: what’s in your wallet?
Show Links
3 Big Things I Learned From Customer Interviews
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