Posts Tagged ‘market share’

I’m a huge fan of Seth Godin, not sure of his title beyond author, but I’d call him a biz futurist.  In a recent blog (click here to read it) he shares some insightful thoughts on competition.  Seth’s gift is to inspire thought — and for the intelligent few, action.  He notes that “competition is everywhere, we just forget to notice it”.

competition

I’m fond of often saying that our greatest competition is ourselves — our limiting thoughts, hesitancy to act, refusal to commit, failure to communicate, etc.

All businesses have competition in the other common industry providers — all fighting for the almighty market share.  What about the other competition we face, but not directly?

If your product or service is a choice — recreation, health and wellness, entertainment, child care, nutrition, vitamins, or consulting it may fall into a consumer’s or business’ discretionary spending.  You compete with EVERY other alternative commodity that can be purchased.  Instead of your consulting services, the company can choose to give every employee monthly movie passes, gym memberships, bonuses or car allowances.

Look beyond your inter-industry competition to make sure you are providing constant value to your customers, clients or members.  Competition is everywhere, notice it.

Be remarkable, not replaceable.

p.s.  Seth has a new book out titled “Linchpin” — let’s do ourselves a favor and buy it.