Something I see quite often is the initial excitement of new clients who are so taken with a new concept they can hardly contain it – only to be disappointed when they discover competitors in the same category. One could easily feel this way about my new venture, Big Frog. Just take a look in the phone book or Google it and you’ll find dozens of companies that are more than eager to put images on garments in one way or another.
So why not just tuck tail and run? Surely there’s a concept out there somewhere that no one’s ever seen before – something that is so unique and new – something that I could be the only one doing, something that… etc. etc. And so goes the thinking. But it’s a fantasy – businesses without any competition are rare and worse, unproven. Business isn’t about not having competition. It’s about being a better competitor!
Sadly, I see people put off their decision to open a business looking in vain for that one category that no one else has found yet. Years go by before a decision is made – or more likely – no decision is made. Score one for the competition.
So what’s better? Having a few competitors who may or may not know how to serve customers better than you – or not realizing your dream of owning a business and being able to call the shots?
Besides, if there’s one thing I’ve learned about business it’s that there are an awful lot of lazy business owners out there. Many of them shouldn’t be in business at all – they’re much better suited to work for someone because they have no fire, no desire to make a real difference in how they treat their customers. And there’s my opening.
You see, what I know from experience is that I can provide a better experience for my customers. Sure there are competitors in my market who can print on garments. They’re all over the place. But few have made it easy for the customer. First and foremost, most of them aren’t even in retail – they’re tucked away in industrial parks because the rent is cheap. With my retail location I’ll have more exposure in a month than they’ll see in a year. And we’ll welcome my customers with an in-store experience that’s fun and enjoyable – not stare down my nose at them because they only need a couple of shirts and I’d rather only do the large orders! We will welcome with open arms the customers that others turn away.
Will I get all the business and conquer the T-Shirt world?!?!? Not likely. In fact, if my competitors are any good they’ll go on servicing their core customers and I’ll get my own following. The weaker competitors will fail if not by my hand, then by someone else’s.
There’s a great quote from Ray Kroc, the mastermind behind the McDonald’s brand. He said “When the competition is drowning, stick a garden hose down their throat!” Mean spirited? Maybe a little, in a humorous way. But it puts my mind in a place where I can say “I’m the competition – I have a better way of doing this!”. Not “I’m going to whimper off and say no to owning a business just because someone’s already doing it.” Competition be damned – it’s time to get to work!
So what got me all fired up about this? Here’s yesterday’s post from a favorite blogger, Seth Godin. Rebecca turned me on to him a few months ago. I really enjoy his insights on all things business – maybe you will too.
Competition
The number one reason people give me for giving up on something great is, “someone else is already doing that.”
Or, parsed another way, “my idea is not brand new.” Or even, “Oh no, now we’ll have competition.”
Two big pieces of news for you:
1. Competition validates you. It creates a category. It permits the sale to be this or that, not yes or no. And this or that is a much easier sale to make. It also makes decisions about pricing easier, because you have someone to compare against and lean on.
2. There are six billion people in the world. Even if your market is hand-made spoke shaves for left-handed woodworkers, there are more people in your market than you can ever hope to track down.
There are lots of good reasons to abandon a project. Having a little competition is not one of them. Even if it’s Google you’re up against.
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