Can one face competitors in business and still succeed. And how?

[MrEazyLife]

This is something that has really been a burden to me and I need ideas on how to come out of it.
A lot of people out there are also facing same challenges.
You can imagine successful setting up a business in a well suitable location and then just when you think things are getting better and enjoying your peace of mind. You find out that another person gets to set up the same business as yours very much close to you.
If this isn’t envy what else should it be call?
I mean you scouted the place and that is when others wants to buy in to the same idea.
Even if they want to start a business in the se location why the exact business some other person had on going.

Please I need ideas to be shared so one can find a solution to problems like this. And others who has intention of going in to business won’t be a problem or look like they’re being a competitor to the already existing business owners. this is the reason for this trend

[Helena Yu]

Price, location and service/quality are three most important reasons to be successful.

If your competitors win at least one from three reasons, you can expect some of your customers will move to the competitors.

If we talk using logic, the solution against this problem is either improve your business or destroy your competitors. You can create fake news, attack their business secretly etc.

But, some people have thought like this "God already determine our sustenance and fixed our destiny", so they don't care about competitors or anything.

[Marvelockg]

Please I need ideas to be shared so one can find a solution to problems like this. And others who has intention of going in to business won’t be a problem or look like they’re being a competitor to the already existing business owners. this is the reason for this trend

if you're afraid of competition it means you're not ready for business at all. All the businesses you can think of don't exist in isolation. You need others in the same line of business around you and that doesn't for any reason mean that you will have lesser sales. Do you know that there are street where all the people selling in that location only specialize in the sales of a single kind of goods? And yet they still attract a lot customers?

As you start your business, you've got to come to terms with the reality that sonner or later you will have competition around you. It's even best that before starting you make projection on the current competitors you have and the future ones you will also have and make the needed plan on how to cope amidst the competition.

One way to scale through competition in business is to improve on your customer service and upgrade your business such that it stands out. Treat your customers right and they will always come back to petronize you. If it's possible, collaborating with your competitors could be another good way of creating a good business environment. There are times you might run out of stock and will need to get from same business that's nearby to cover up for you and when they are out of stock they would want to do same. It's all about setting the right strategy in place and ensuring that you're up to spead with what's happening in the environment so you remain relevant regardless of the numbers of competitors you have around you.

[icalical]

Competition is just part of the business game, and it's inevitable. Usually instead of seeing it as envy, I turn it into something that powers my business. Sure, someone might set up the same shop near mine even with similar product or niche, but that doesn't have to be a bad thing. In fact, competition may inspire us to make our business stand out innovatively with something different, maybe better service, or the kind of personal touches in customer experience that's harder to copy.

Besides, in my opinion a little competition keeps us on our toes without being complacent. If it was me, I will just focus on how to work on what makes my business better by enhancing customer experience, pricing more intelligently, or upping market marketing ante. Competition is not something out of the ordinary, and knowing how to deal with it is what will help the businesss grow.

[MrEazyLife]

Price, location and service/quality are three most important reasons to be successful.

If your competitors win at least one from three reasons, you can expect some of your customers will move to the competitors.

If we talk using logic, the solution against this problem is either improve your business or destroy your competitors. You can create fake news, attack their business secretly etc.

But, some people have thought like this "God already determine our sustenance and fixed our destiny", so they don't care about competitors or anything.

I like that you just point out three key factors which I think if applied can help one succeed. But the aspect of creating fake news in other to destroy the competitors business I think is too hash of a word. Knowing that the same measure you used towards others is the same measure that will be used for you too. Nevertheless thank you for those points you gave.

Please I need ideas to be shared so one can find a solution to problems like this. And others who has intention of going in to business won’t be a problem or look like they’re being a competitor to the already existing business owners. this is the reason for this trend

if you're afraid of competition it means you're not ready for business at all. All the businesses you can think of don't exist in isolation. You need others in the same line of business around you and that doesn't for any reason mean that you will have lesser sales. Do you know that there are street where all the people selling in that location only specialize in the sales of a single kind of goods? And yet they still attract a lot customers?

As you start your business, you've got to come to terms with the reality that sonner or later you will have competition around you. It's even best that before starting you make projection on the current competitors you have and the future ones you will also have and make the needed plan on how to cope amidst the competition.

One way to scale through competition in business is to improve on your customer service and upgrade your business such that it stands out. Treat your customers right and they will always come back to petronize you. If it's possible, collaborating with your competitors could be another good way of creating a good business environment. There are times you might run out of stock and will need to get from same business that's nearby to cover up for you and when they are out of stock they would want to do same. It's all about setting the right strategy in place and ensuring that you're up to spead with what's happening in the environment so you remain relevant regardless of the numbers of competitors you have around you.

Read through and got convinced by your comment that it’s still possible to succeed no matter the number of competitors around. There’s another thing I want to point out. Even in business there are always 90% of envy when it comes to new competitors who were once your customers but decided to turn to competitors. It’s a different case when competitors are not those from within. But considering that this particular competitor are once your close customer but decided to put up business war. What can be said of this and what’s the solution and way out?

[Zoomic]

Please I need ideas to be shared so one can find a solution to problems like this. And others who has intention of going in to business won’t be a problem or look like they’re being a competitor to the already existing business owners. this is the reason for this trend

Would you rather close down your business or get drowned in your own emotions because someone is selling thesame product you sell or offering the same service you offer? I have been in this situation before and I bet you, this is the time for you to grow your business with new strategies you've not used before. Let me share with you a few tips that have helped me.

• Create a good relationship with your customers: Truth be told, your customer base will definitely split since there is a competition available. Rather than get upset that they stopped patronising you, you can call them to know why they stopped coming around, what services they are not comfortable with and do well to do something about the feedbacks you'll get. Customers will go where they feel their right is being valued.
• Do well to offer quality products and services: your shop should be the first that comes to your customers' mind when they need quality. Believe me, your people will still stick around.
• Consider marketing your products or services online: This will definitely help you reach customers who are not just within your business location. Products can be delivered to customers wherever they may be. In terms of services, people will look for you if you are good.
• Offer discounts: Be careful not to sell at a loss, but this will make your customers stick around.

So mate, ensure you give your customers what your competitors don't have and you will see your business growing.

[WillyAp]

Price, location and service/quality are three most important reasons to be successful.

If your competitors win at least one from three reasons, you can expect some of your customers will move to the competitors.

If we talk using logic, the solution against this problem is either improve your business or destroy your competitors. You can create fake news, attack their business secretly etc.

But, some people have thought like this "God already determine our sustenance and fixed our destiny", so they don't care about competitors or anything.

Quality is an argument which needs a lot of marketing, low prices is what most people seek, Of those people 60% (number drawn out of my head)
plainly give up once their chosen service does not deliver what was promised.  The remaining look for better quality.
 
Location is really not an argument in the digital realm. Sure,  there are still enough people out there not understanding the internet comes from internationally. They need their server across the road. Those people die out. Most I have dealt with don't employ any service due to whatever reason.

Someone is copying you? Take it as a compliment.

[Spaceman1000$]

This is something that has really been a burden to me and I need ideas on how to come out of it.
A lot of people out there are also facing same challenges.
You can imagine successful setting up a business in a well suitable location and then just when you think things are getting better and enjoying your peace of mind. You find out that another person gets to set up the same business as yours very much close to you.
If this isn’t envy what else should it be call?
I mean you scouted the place and that is when others wants to buy in to the same idea.
Even if they want to start a business in the se location why the exact business some other person had on going.

Please I need ideas to be shared so one can find a solution to problems like this. And others who has intention of going in to business won’t be a problem or look like they’re being a competitor to the already existing business owners. this is the reason for this trend

That's the reality of the labor market, what you need to do is to be strategic on how to market your brand, marketing your brand gives you a different edge altogether, make your product very affordable but not to a point you will be losing your gain. An open market is always competitive, so you need to always be at your best, you will have to look out for things you know your opponent don't have, then you bring them in, especially items that are eye capturing, you have to take the fight to them, else you will be losing out big time as complaining will not help the solve the problem.

Is not every business you will start and immediately you start being successful, sometimes you have to go through rigorous processes and major competitions before recording your success story, so don't see that somebody opening the same kind of business around you, will bring down your business, rather It should be a motivation for you to be at the top of your game.

[MrEazyLife]

Price, location and service/quality are three most important reasons to be successful.

If your competitors win at least one from three reasons, you can expect some of your customers will move to the competitors.

If we talk using logic, the solution against this problem is either improve your business or destroy your competitors. You can create fake news, attack their business secretly etc.

But, some people have thought like this "God already determine our sustenance and fixed our destiny", so they don't care about competitors or anything.

Quality is an argument which needs a lot of marketing, low prices is what most people seek, Of those people 60% (number drawn out of my head)
plainly give up once their chosen service does not deliver what was promised.  The remaining look for better quality.
 
Location is really not an argument in the digital realm. Sure,  there are still enough people out there not understanding the internet comes from internationally. They need their server across the road. Those people die out. Most I have dealt with don't employ any service due to whatever reason.

Someone is copying you? Take it as a compliment.

Thank you so much for this point of view. The part you mentioned online service is another important point to consider.

[mindrust]

Competition is nothing to be afraid of. As long as you do your job well, keep your customers satisfied, offer good prices, quality services and products, nothing can go wrong and believe me, there are lots of business owners that fail at doing these successfully. So there is always a spot for a hardworking and honest business. Take a look around you, you’ll see lots of people are very bored, don’t like their job, treat customers badly… You can be better then them and drive them out of business. It is that easy. Don’t be afraid of competition, embrace it.

[SatoPrincess]

Don’t take it as envy, if nobody is imitating your business/idea, then you’re doing something wrong. Imitation is the easiest way to succeed in business. People find a business model that’s successful and they follow the same blue print. Big companies do it all the time, it will be foolish of small business owners not to take advantage of imitation as a business model.

[iv4n]

Is there any business that has no competition? I have been thinking about it for a while now, but I can't think of anything... As some others have mentioned, instead of thinking about the competition it would be better to focus on your business and try to do it in the best possible way.

There is no universal answer, first you look at where you are and try to fit into that location... in some places, better service is more appreciated regardless of the price, in some areas, it is better to have lower prices than good service. So you adapt to the local market and offer what people need, that's the way you can succeed.

[EL MOHA]

You can imagine successful setting up a business in a well suitable location and then just when you think things are getting better and enjoying your peace of mind. You find out that another person gets to set up the same business as yours very much close to you.
If this isn’t envy what else should it be call?
I mean you scouted the place and that is when others wants to buy in to the same idea.
Even if they want to start a business in the se location why the exact business some other person had on going.

Please I need ideas to be shared so one can find a solution to problems like this. And others who has intention of going in to business won’t be a problem or look like they’re being a competitor to the already existing business owners. this is the reason for this trend

When you don’t want competition in your business then you’re basically just trying to manipulate that market which is one bad thing about the market. If you get competition on a particular commodity introduced by you then simply know that you’ve brought something that holds value and that’s why another business strategist is hoping onto it. This competition might actually look as a way to reduce your demand but I tell you it doesn’t once you keep up with the quality. In fact competitors like this helps you to get and insight as were your market has flaws and you build on that. People chase after quality as long as that cost is effective to them.

Let’s take example of the first digital currency bitcoin even it is not a commodity but haven’t you seen the numerous numbers of altcoin projects going and each is trying to better bitcoin but as that reduce the value of bitcoin, isn’t it’s adoption still growing more, it’s even when there is other projects like us that many people even value the quality you have built. Many people are fudding bitcoin today because of transaction scalability but yet it usually has the highest trading volume each day due to it’s security.

[Findingnemo]

Even though both are similar still not the same, all you need to concentrate on is is making yours unique and only available in your location not near proximity. For example, a restaurant, sure there can be multiple restaurants in the same corner but what makes the one unique will be filled with people like the exclusive menu, good ambiance, or special deals and combos. That's the reality, you can't expect to take everything to you even if you come up with that idea initially and you need to keep getting better to stay in the business or else what happened to Nokia is good example.

[Fiatless]

This is something that has really been a burden to me and I need ideas on how to come out of it.
A lot of people out there are also facing same challenges.
You can imagine successful setting up a business in a well suitable location and then just when you think things are getting better and enjoying your peace of mind. You find out that another person gets to set up the same business as yours very much close to you.
If this isn’t envy what else should it be call?
I mean you scouted the place and that is when others wants to buy in to the same idea.
Even if they want to start a business in the se location why the exact business some other person had on going.

Please I need ideas to be shared so one can find a solution to problems like this. And others who has intention of going in to business won’t be a problem or look like they’re being a competitor to the already existing business owners. this is the reason for this trend

This is a serious problem in business. When people see the customers you are attracting to your business they just generalize that you are making lots of profit. The next move to to situate thesame business close to your own. You cannot stop people from starting businesses close to you, but you can adopt some measures to overcome competitors.

1. Increase advertisement
2. Improve the quality of goods or services.
3. Gradually diversify your business
4. Look for other sources to buy cheaper products so that you can give discounts.
5. Offer some incentives like free home delivery
6. If the market is saturated in that area, consider moving to another location.

[pusaka]

This is something that has really been a burden to me and I need ideas on how to come out of it.
A lot of people out there are also facing same challenges.
You can imagine successful setting up a business in a well suitable location and then just when you think things are getting better and enjoying your peace of mind. You find out that another person gets to set up the same business as yours very much close to you.
If this isn’t envy what else should it be call?
I mean you scouted the place and that is when others wants to buy in to the same idea.
Even if they want to start a business in the se location why the exact business some other person had on going.

Please I need ideas to be shared so one can find a solution to problems like this. And others who has intention of going in to business won’t be a problem or look like they’re being a competitor to the already existing business owners. this is the reason for this trend

This is a very common thing in the business world, because there is no business without competitors at all, even in some cases people build the same business with almost face-to-face places. If we intend to enter a world like this, then the first thing we must prepare is mentally. And actually the existence of competitors should be a motivation for us to continue to innovate about the business we are running. Without competitors, we might be too comfortable and that can actually bring negative things to our business. Well, here we can learn a lot and hone our abilities in developing a business so that we can compete healthily. Because consumers will definitely choose what they think can make them comfortable. This is based on personal experience when I shop for example, we as consumers definitely want the best and also want to get the best service.

[MrEazyLife]

Don’t take it as envy, if nobody is imitating your business/idea, then you’re doing something wrong. Imitation is the easiest way to succeed in business. People find a business model that’s successful and they follow the same blue print. Big companies do it all the time, it will be foolish of small business owners not to take advantage of imitation as a business model.

“If nobody is imitating your business/idea, then you’re doing something wrong.” This is a take home for me. You made a huge point here. Now I’m beginning to feel proud that I can at least introduce what others can imitate. Thank you very much.

[avikz]

Please I need ideas to be shared so one can find a solution to problems like this. And others who has intention of going in to business won’t be a problem or look like they’re being a competitor to the already existing business owners. this is the reason for this trend

Competition is a part and parcel of the daily life of a business owner. But when comes to business sustainability, quality wins big time. Work on your product to ensure highest quality for your consumers and you will win.

If you are trying for some discounts or rewards for your consumers, that might work as well but for short term.

Work on providing loyalty benefits to your clients to encourage repeat purchase. What's the nature of your business?

[MrEazyLife]

Please I need ideas to be shared so one can find a solution to problems like this. And others who has intention of going in to business won’t be a problem or look like they’re being a competitor to the already existing business owners. this is the reason for this trend

Competition is a part and parcel of the daily life of a business owner. But when comes to business sustainability, quality wins big time. Work on your product to ensure highest quality for your consumers and you will win.

If you are trying for some discounts or rewards for your consumers, that might work as well but for short term.

Work on providing loyalty benefits to your clients to encourage repeat purchase. What's the nature of your business?

I deal on frozen food like chicken, fish, Turkey and others seafood. Then I also sale food stuffs items and provisions.

[Fortify]

This is something that has really been a burden to me and I need ideas on how to come out of it.
A lot of people out there are also facing same challenges.
You can imagine successful setting up a business in a well suitable location and then just when you think things are getting better and enjoying your peace of mind. You find out that another person gets to set up the same business as yours very much close to you.
If this isn’t envy what else should it be call?
I mean you scouted the place and that is when others wants to buy in to the same idea.
Even if they want to start a business in the se location why the exact business some other person had on going.

Please I need ideas to be shared so one can find a solution to problems like this. And others who has intention of going in to business won’t be a problem or look like they’re being a competitor to the already existing business owners. this is the reason for this trend

Absolutely, businesses are always evolving and intense competition between them is usually beneficial for the average consumer. Just look at the cell phone market - sure there are plenty of high priced phones, but there are a whole spectrum that have the price going down to $20 for the cheapest, most basic versions. They will often copy each other because there are very limited ways to differentiate these days. It's worth noting as well that smaller businesses may have a money disadvantage but they can often be more nimble in changing to a new consumer trend, plus they don't have long term baggage from employees who might have accumulated all sorts of expensive benefits over a 40-50+ year career with a single company.