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

[Rabata]

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

I used to think that I would be successful in business when I had no competition. I will establish my business location in a place where there is no similar business owner. But my assumption was completely wrong. Business requires competition. Competition is an incentive for business to be honest. In the same business, if one person is able to provide more benefits than the other person can provide to the consumer, then the person who provides more benefits will survive in the business. If a person wants to run a business but does not want to compete then he is not doing business perfectly.

Moreover, if we are a consumer and realize the general issue, I think this point can be clear. Where there is business competition where there is a good business environment there is a high influx of buyers. Everyone benefits from the business and where there is no competition there is less customer. That's why I think having similar businesses in the same location is a positive site for those businesses.

[DeathAngel]

Of course you can face competition in business & still win. There are plenty of potential customers out there in most fields. It all depends what you are offering, are your prices competitive, is your customer service good, are you always keeping up with the latest products etc, is your advertising good. As long as you are in a trade or field that is in high demand then there are plenty of potential customers out there. Healthy competition might strive you to do even better as you don’t get complacent.

[GiftedMAN]

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

There are simple things to be done if you really want to be ahead of your competitors especially when you are the first person to establish a business in that location.
1) Always be available to render services to your customers at all times
2) Do not sell bad products to your customers so that they won't have any reason to doubt your integrity
3) have what your customers need with they won't try to buy from your competitors
4) let your price be the best and different from the rest then you will always be the first person to be mentioned when a product is needed around the area
5) have a good customer relationship with your customers by so doing you will be ahead of other people in the same line of business in your location.

[AYOBA]

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.

In every business there’s is competition, especially the way the situation of the country is going on and there’s know availability of the jobs, so the only things that as youths to do now to survive is to establish a business; and the things hard be currently know any business they available that I will say they nobody is doing the business.

There’s a lot of people’s that are establishing the same business in the same location and every is succeed, doing the same business with others people in the same location doesn’t matter, but having faith on your business you will see what will be the outcome in the your business.

[Miles2006]

I thought of same issue mostly my locality, people create same business without minding the location and other existing business. Personally at the end of the day they both earn quality money depending on the kind of business for example supermarket. If this should stand as a competition you just have to buy quality goods or render a good service, 99% of customers create massive awareness without paying for a dime just because they enjoyed the service.
Creating a business requires knowledge on how to handle competition etc, there’s no specific business creator so I will consider envy as false. Every business owner learnt same idea or inspiration from someone else meanwhile competition can be consider as a must when dealing with business also due to different business type not all require competition because I have seen different business owners cooperate  to create something good.

[itorai]

Definitely yes one can face competitors in business and still be successful in it, and I'll explain this with an illustration. My sister use to have a business located in a busy area that would attract customer service more and was the first in that business in that area and was very prominent in her specialty but all of a sudden she got the same street line neighbor offering same service she renders and that's when the competition started, tho it'll be challenging but she had to beat up the fact that she was first in the area of that business before them and this led on to her offering and making sure she met to her customers needs at every given time, so just understand every aspects of the markets to beat up competitors.

By understanding the market situation it will be easier to manage the business you are working on even though there is competition in the same business, by providing a little more service to consumers, it can have an impact on customers trusting you, in this case it is necessary to have ideas that need to be especially in terms of good delivery.

[Stepstowealth]

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?

The sky is big enough for everyone, and for every business to flourish. While you may not like or appreciate the competition, competition is needed at times and necessary too to make you sit-up in business and the service you deliver. Competition can help your customers realize that you are the better choice after trying out the service that the other business doing the same as you has to offer.
As an existing business in a place that another business has come to a meet you should understand that it is possible that they have studied your model of business and have come to improve on it so to stay in competition with them and be on the lead you need to re evaluate the service you offer and how you offer your services to make sure that you remain top notch and the standard of service delivery because if you decide to remain stagnant and not dynamic to change, the other new business will most likely take you out of business.

[adzino]

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

Sure you can still succeed. All you have to do is be better than your competitors. Every business has some sort of shortcomings/lacking. You have to take advantage of these lacking of your competitors to make your business better/superior than them. You need to provide better service, quality products and competitive pricing to your customers. You need to offer something different than what your rivals are offering. Once you establish yourself and build a good reputation, you will be easily able to survive the market.

[ancafe]

Even if they want to start a business in the se location why the exact business some other person had on going.

People can copy ideas and styles in business but people cannot guarantee the level of success, so don't worry about that. Just focus on the development stage and do it in the best way so that the business you design can run well to find a level of success.

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

There is no need to be afraid of competition as long as you understand the business and do something different so that the business you run becomes more successful. Copying other people's business styles also does not necessarily mean success as expected because people have much more appropriate solutions. Your job is only to do your best and the rest is to evaluate so that you can see the shortcomings in the business to be fixed to improve it.

[Coyster]

Healthy competition might strive you to do even better as you don’t get complacent.

Spot on, i don't like monopoly, it affects how a business runs its activities, you might not know it, but if you have monopoly in a particular area, there is a high chance of it affecting your customer service negatively. If you know there are other businesses also trying to beat you, it makes you innovative and you strive to do better, it is good for business and also for customers too.

[Baki202]

Sure you can still succeed. All you have to do is be better than your competitors. Every business has some sort of shortcomings/lacking. You have to take advantage of these lacking of your competitors to make your business better/superior than them. You need to provide better service, quality products and competitive pricing to your customers. You need to offer something different than what your rivals are offering. Once you establish yourself and build a good reputation, you will be easily able to survive the market.

Having competitors is what most of us needs to be able to drive your business further because of their is no competition then you will not know the value of how important your business is and no matter what their will
Be competitor because even in the crypto market, their is a lot of competition out their and one of the short comings is competition if you are not able to manage your business well, then at the end of the day you won't be able to do nothing but to re arrange your plans business deals with brains, you have to be willing to do a lot of survey and data analysis if the business is going well or not. And how you are friendly with people matters in your business is a lot because their are people that are not friendly at all, when it comes to rendering services to people . Customers are very important, with them you won't be able to do the important things.

[Dr.Bitcoin_Strange]

Well, you just have to look for what your competitors are not doing very well, then you perfect it. If maybe your competitors opens their company by 10AM, you should resume earlier, if their price is less expensive than yours, you need to also bring down your price, keep your business environment very clean and hygienic and don't be rude to customers, give discount most of the time and give your customers a warm good bye, then ask them to come again next time.

[Woodie]

Sometimes competition is good for business, imagine if that neighbour of yours is selling below standard items and people keep walking out of the business premises without having to buy anything...then guess who benefits from all these potential sells...you!!

Also competition makes one to think outside the box to attract customers, so don't see this has a bad development... It might actually benefit you one way or another..for as long as there is a healthy population where you are then you will enjoy the benefits.
.

[AmoreJaz]

Well, you just have to look for what your competitors are not doing very well, then you perfect it. If maybe your competitors opens their company by 10AM, you should resume earlier, if their price is less expensive than yours, you need to also bring down your price, keep your business environment very clean and hygienic and don't be rude to customers, give discount most of the time and give your customers a warm good bye, then ask them to come again next time.

You always need to see what your competitors are doing so you know where you will improve or adjust your services. Because like it or not, people will always look for better and cheaper goods or services as well as how they are being treated as customers.
As a business owner, you need to make sure that you are covering angles that your competitor has not seen or taken care of. Because that will be your advantage to earn more profits and get more loyal customers.

[jaberwock]

As a businessman, you must know how to strategize in business because competition is something that cannot be avoided. The goal is for your business to be superior to competitors. When someone else sets up the same business in your area, it cannot be called envy because everyone has the right to choose their own path with the experience they have. You must be ready to face every challenge in order to survive the heat of competition, everyone has their own goals, as long as competitors do not attack you personally, it means you must be ready to compete healthily.

The trick is to keep growing, not keep getting "better". Meaning, OP has a shop, and someone opens another shop similar right near, the trick shouldn't be just go and make your shop better, the trick should be start another shop another place. Ideally, you should be making enough profit from this location to get enough for a capital at another place, along with debt.

For example, if you do not own this place, then try to own the place, pay 20% upfront, and rest in loans and that way you grow, if you already own this place, then get another place and pay 20% and get the rest in loans. This means, two place paying just one place mortgage, and should be fine for you. Growing and not staying still is the way to go in any business, if you keep being what you are, then someone bigger will come in, spend more money, and destroy you eventually.

[Egii Nna]

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

In business this is not envy but competition. I know you will be surprised, but you need to know that as a businessman you need to have that in mind that they most be a competition, so now is let for both of you to create different strategies that will help you to accumulate more customers and have more sells than the other. This will help you to have more experience on the business you are into, and you will not be so weak but more focused on many other strategies like reducing the price a bit from his and get more patronage, or selling more good and efficient products, and also advertising your product in the best way to attract your customers.

So now you have to change the perspective that you have an enemy that is envying you to you have a rival that will go on a competition with you that will arouse your intrest to create more wey in other to get what you really wanted.

[alastantiger]

You always need to see what your competitors are doing so you know where you will improve or adjust your services. Because like it or not, people will always look for better and cheaper goods or services as well as how they are being treated as customers.
As a business owner, you need to make sure that you are covering angles that your competitor has not seen or taken care of. Because that will be your advantage to earn more profits and get more loyal customers.

Your competitors will still copy the strategy that you're using when you begin to see success with the strategy and they're not seeing success. Your competition are always watching you to see what you're doing that they're yet to do to steal your customers. There isn't much thing you can do to stop your competitors from copying you but you can work on your customer service and satisfy your customer that they won't have to go to your competitors to buy things. They might be selling theirs cheaper but if you keep your customers satisfied, they'll always patronize you and not your competitors. Customers want to be treated right always and they'll prefer where they're treated with respect than disrespect. Your business can survive any conditions or problems but it won't survive when their are bad reviews from you customers and they get to tell their friends to not patronized you.

[mirakal]

We are living in a free, democratic country so assume that whatever you have in mind especially in business aspects, competition will surely arise in time. Most especially if they have seen your business is on the go and the people around are buying what you have, envy will definitely develop that may lead to putting up a business same like yours.

So the challenge here is who will survive and make the most of the demand in the long run despite of the close competition in the neighborhood. The solution is simple, create your own brand and make it unique. Make sure that your business will outstand others in the line from good customer service down to competitive and affordable price range. If you can manage to make your business grow and competitive throughout the years, success will surely await in the end.

[CK485]

Well, you just have to look for what your competitors are not doing very well, then you perfect it. If maybe your competitors opens their company by 10AM, you should resume earlier, if their price is less expensive than yours, you need to also bring down your price, keep your business environment very clean and hygienic and don't be rude to customers, give discount most of the time and give your customers a warm good bye, then ask them to come again next time.

it is the right thing to do good ways to attract customers, so that the form to continue to advance in business even though there are many competitors is something challenging for now, cleverly managing to find gaps in competitors' weaknesses is an effort that needs to be done in the midst of the tight business world that we are currently living.

[Iranus]

Well, you just have to look for what your competitors are not doing very well, then you perfect it. If maybe your competitors opens their company by 10AM, you should resume earlier, if their price is less expensive than yours, you need to also bring down your price, keep your business environment very clean and hygienic and don't be rude to customers, give discount most of the time and give your customers a warm good bye, then ask them to come again next time.

Sometimes I accept to buy goods at stores with higher prices for some reasons such as warranty policy, customer care style, especially the product quality is always guaranteed...So, whether a store opens early or late, sells at a cheaper price or constantly discounts...does not necessarily help your business compete with competitors.

Overall, business is not simple and what we need to improve to attract and retain customers depends on the needs of the customers. So what we need to do is listen to our customers, see what they want and need, and then find ways to satisfy them.

In business, sell what customers need, don't sell what we have but not what customers need.