One of the keys to growing in business is understanding who or what your competition is.
Whether you're trying to sell coaching, sell training, sell marketing or sell any kind of professional advice, it's only when you know the competition that you can track what they're doing, who's working with them, and why people choose one competitor over another (or over you). But if you don't know how people choose, it's difficult to influence or change their choices.
I once asked my chiropractor what the main competition he faced was. He gave me the names of two other chiropractors in the area.
Was that really all the competition he had?
No, of course not. There were osteopaths, and massage therapists, and physiotherapists, and accupuncturists, and doctors. Heck, even a bottle of pain killers is a competitor for a chiropractor.
But as long as a he carries on looking at the competition as only professionals who call themselves the same as he does, he's competing at the level of qualifications, price and availability.
In other words, he's a commodity.
So what's the alternative way to look at it?
Simple. When you work your magic (whatever that magic happens to be) people feel different afterwards from how they felt before. If they didn't, there'd be no point coming to you.
So the first thing is to figure out what that change is:
Q1: How do clients feel after they've worked with you,
that makes it worth them coming to see you?
And now the next question will tell you who your competitors are:
Q2: Who else makes (or could make) them
feel the same way?
Write down every way you can think of for people to achieve the same change in their state, and that's your list of competitors.
OK, enough for this post. Let me know what you think below!
(and don't forget, you can pick up a free copy of my book "More Clients, More Money, More Fun - The Insider's Guide To Growing A Thriving, Profitable Coaching Or Consulting Practice" over at www.PracticeMomentum.com)