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

[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.

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.

Yes, a business owner that knows what they are doing will never allow their business to lose its customer. You know, some people are just doing business because they saw others doing it and when they are faced with some challenges, they don't know how to escape and it can even cause them to go off business or lose many customers to competitors.

[Oshio-man]

All you need to do to succeed among the competitors in the area, is to be more close to any customers that come to your store to buy goods, try to study the price they are giving to buyers in that area to know how to fix your price to have more customers because customers use to consider price and quality of the product when buying the products, and if your price is cheaper than other sellers in that area and your product is good, you will definitely going to make progress in that area. If you have the knowledge of the business, you don't need to be afraid of the competitors because the knowledge you have concerning the business, it will lead you to do what will make you to continue succeeding among the competitors without you experience losses in your business.

[Su-asa]

That's why you need to add uniqueness to your business or brand, there are definitely going to be competitions but you must think of how to do things differently from others. A lot people are reluctant to start up the business they want because they think succeeding would be difficult due to competition, this is why I made mention of uniqueness in the first place, even if you are doing the same business that a lot of people are into you look out for things that are lacking and meet those needs. It would be hard to succeed if you are just doing regular things.

[Dr.Bitcoin_Strange]

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...

It's not all the time bro, there's this super market in my area, I was once there customer but what stopped me from buying things there is because I have bought bad provision from there twice, I didn't bother to make complain.

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.

It does, maybe not for every business but it does really Matter. You will not realize it until you have a business where your customers are already expecting you to be out early so that they can fill their needs urgently but instead, you are resuming by the time they have already fill their needs through an alternative.

[beerlover]

The business you are doing there, are you the first person to do the business? Why make it as if it's your parents and intellectual property right? You don't have the power to monopolized a business in an open economy, every other person has that right to do the same business unless you are selling a unique product which you must have trade mark and copy right protected so that another person don't steal your idea to make money but even copy right has expiry date.

Anyone has the right to sell what you sell, you weren't the first person to try the business right, it was done somewhere before you tried it and even if another person comes close to you to do the same service, you have the right to outperformed the person and do everything necessary to sell more than the person. Haven't you see two restaurants sell close to each other and yet one has more patronage than the other, it's how you market your business you are going to sell. Instead of worrying about this, channel that energy for improvement and win the customers.

While I agree everyone has the right to start any business as long as it's legal, I also think this would drop the value for both places at the same time. I mean if there is a very successful shop near me, I wouldn't consider starting another one just near them, because that would mean while I would get some of their customers and make some money, I would never fully reach my potential as long as they exist and they are the first ones there so I will always be second fiddle unless somehow I prove I am better than them eventually, and that would not happen right away, would take time to convince everyone I am better.

This isn't a smart business move, you should be doing it at some place else. However, I agree with the logic that they are allowed to do it, they are stupid to do it but they are not doing anything illegal, they can rent out 10 shops around that shop and do the same business with all 10 if they want to, there is nothing illegal about that.

[dezoel]

Its natural to have competitor especially if they see your business starting to succeed since their are people really want to replicate what you do since they also want to get the best result for their business.

I bet we are not the first to be on the business that we create, so we are also a competitor to others. We have no rights to complain. In a business, there must also be a thing called as "secret recipe" and as its name implies, no one can't know it, so just let them replicate your business but they will still have a hard time figuring out on how to actually succeed and have a status like yours. There is no need for you to worry about. Having a significant results takes time anyway, so those who will stick on the process are only the ones who are deserving for it.

So what you can able to do to fight back on the competition is to became more friendly on your costumers and offer best service which they would became more satisfied since for sure that those people would see that you are approachable and doing them some favor will stick on you since and they won't go anywhere because they are happy on what you have provided to them. 

If we are already on the top of the chain then there is no need anymore for us to fight back but it was our competitors which are below us are the ones who might do it. Also, fighting is wrong and all of us only have the same goal which is to earn so why can't we just treat each other well? I remember there is a term called healthy competition but I don't think it is like that as that seems contradictory since there is still a word "compete" there.

Also try to lower down the prices of your goods and services since provably that costumers will go to you since lots of people think about savings and provably that they would go to you since they can save some money compare if they buy at high price to your competitor.

Lowering our price for no reason is hard. I know people likes it but we also need to think of our selves in order for us to sustain our businesses. Maybe we can only lower our price for those stocks who are about to expire and then we can give special discounts to our loyal customers. Oh wait, I think there is also if there are special occasions.

[Wakate]

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 shouldn't be your problem if someone else decided to do the same business with you, maybe to share your customers and to make sure that they too are making profits just like you do. Business is all about using the right strategy to get more customers for your business so that you can continue making profits while trying your best that you gather more customers. Business is all about competition and if you are not ready for the competition then you should not think about doing business at all because you will always see people that want to do the same business with you so they can take your customers, that is if you are not a good entrepreneur with diverse ways of keeping your customers and making sure that they always come back.

[Unknown Op]

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.

Competitor can effort on your business but it can also improve your performance. If you are doing small business,you want no competitor in the market because it will damage your empire and we will get the share in market . But one should not focus on that thing because God will help us by many ways and every person will get his income according to his luck . But we should not jealous by anybody and we should pray for the person who are our competitor then we will be successful one day.Hard work in very important but you should choose that field in  which market is not saturated because after saturation your success chances will be very low.

[Akbarkoe]

That's why you need to add uniqueness to your business or brand, there are definitely going to be competitions but you must think of how to do things differently from others. A lot people are reluctant to start up the business they want because they think succeeding would be difficult due to competition, this is why I made mention of uniqueness in the first place, even if you are doing the same business that a lot of people are into you look out for things that are lacking and meet those needs. It would be hard to succeed if you are just doing regular things.

We can call it creative or innovative in a product or service so that we have different characteristics from the products we sell, so competition will definitely exist but how we compete in this huge market, of course, has good service and quality For our consumers, it will give a plus to a product or service that we sell.

In unique marketing also becomes very important, therefore some people must be good at doing marketing because it will be a first impression for potential customers.

[Cryptoprincess101]

try to study the price they are giving to buyers in that area to know how to fix your price to have more customers because customers use to consider price and quality of the product when buying the products, and if your price is cheaper than other sellers in that area and your product is good, you will definitely going to make progress in that area.

People basically set the price of what they sell based on the amount they bought it, so you can't advice a business owner to consider reducing the price of things they sell just to attract customers in an area where there are competitors doing same business because if they should do that they might run into losses, the only advice you can give is that they shouldn't fix the price of their products too high such that customers might begin to make comparison between the competitors in that region though sometimes what matters in a business is the quality of the things you sell, if they are of good qualities customers won't mind even coming from distant places just to patronize you without minding the price.

[SOKO-DEKE]

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.

Nowadays, most people become great business men or women because of the competitors they have around them. Without competitors, they might hardly become successful in their business. Competitors always bring more seriousness in different ways, not only in the business aspect. When people have competitors, they often become more serious about their lives.

I know a businessman who owns a provisions store near our house. It was the only provisions store in the area, so he was less serious; sometimes, he wouldn't come to the store on time, and even if some items ran out, he wouldn’t be in a hurry to restock. However, when other provisions stores started opening in the area, he became more serious, and he even went on to open a supermarket. Having competitors can motivate people to become serious and succeed in life.

[Dzwaafu11]

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 think establishing an existing business seems like competition, then you are not ready, and you will find it very difficult to start up a business because there is no business idea you will think of that no one is doing already, and any business you think you want to start has already been in existence before. Any business you want to do, just look for a good location and start it up. The reason for the best location is to know if there is not much of the same business you want to start there, so establishing a business should be a competition unless you see it as competition.

try to study the price they are giving to buyers in that area to know how to fix your price to have more customers because customers use to consider price and quality of the product when buying the products, and if your price is cheaper than other sellers in that area and your product is good, you will definitely going to make progress in that area.

I don’t know if you want to sell at lost, but to be sincere, when you are in this type of place, they almost always sell at the same price, especially if they both have something in the same place. You know everybody sells based on how they bought it from a company or store that is bigger than their own, so if you think lowering your own price will help you, what if, regardless of how low your own price is, you will sell at lost? The thing is, just look for where the same business as your own is not too much and open your own store.

[Orpichukwu]

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

It's all depends on the line of business that you are into. There are types of businesses that have settings and spacing, and such need to be respected. If it's a business, they have associations; you need to check if such is allowed. In my area, there is an approved spacing for medical stores. 
 
But if it's just a regular business where all you need is to strategise your pattern of marketing and make sure that you retain the customer you already have sometimes won't even leave you unless you were not treating them right, that's when your competitor will buy them over.

[mirakal]

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.

In order to stay competitive and become close to success, know how to elevate your business and make new developments every now and then. Stay connected to your customers and let your business stand out from the rest. I know that wouldn’t be easy but for sure there’s always a way. Patience and resilience are the keys. Don’t settle for less, but always go for the best, not just for yourself, but most likely for the satisfaction of your dear customers.

[Accardo]

try to study the price they are giving to buyers in that area to know how to fix your price to have more customers because customers use to consider price and quality of the product when buying the products, and if your price is cheaper than other sellers in that area and your product is good, you will definitely going to make progress in that area.

People basically set the price of what they sell based on the amount they bought it, so you can't advice a business owner to consider reducing the price of things they sell just to attract customers in an area where there are competitors doing same business because if they should do that they might run into losses, the only advice you can give is that they shouldn't fix the price of their products too high such that customers might begin to make comparison between the competitors in that region though sometimes what matters in a business is the quality of the things you sell, if they are of good qualities customers won't mind even coming from distant places just to patronize you without minding the price.

Recently the woman that sells table water at a lesser price in my neighborhood actually sell out than other competitors. And, I'm wondering why they've not thought about reducing their prices, recently the cheaper seller is gradually lifting up her prices after purchasing a new stock.

Hence, whatever a product is sold at, depends on the cost of material used in producing the stock. And nothing would stop a business from selling higher than they've spent in building a specific service. Hence, you are right, but in times of promo or competition cutting costs helps in reaching new buyers.

[tygeade]

In starting a business you need to consider the budget of course now, what does the community needs its becomes more effective than what others store already have and you want to compete, now if you already mind and picture out what you need you must need to canvas the price of the equipment and the location consider if there's a lot of people nearby walking, tons of business nears on it, so you have an idea if you will become an effective store right there, competitor is normal but you must need to know how to market yourself and your product, the most effective wins and gains profit.

Do not consider just the places around you, in this day and age starting a shop doesn't make sense to me, starting an online business feels better. I have a friend who sells shirts, the most common and boring job anyone can ever do, there are million other places, and yet he makes money.

Well he did used AI to make designs, and he used some company that does "print to order" as well, he did checked out some examples, but seemed good enough quality, was terrible after 10+ washes, but still it was good enough for the price. So he did basically just upload his images that AI did, and he did marketing, that's it.

I believe online is where the small shop owners should go, starting a brick and mortar business isn't really acceptable these days and doesn't make sense, costs a lot and upfront capital requirement doesn't worth the income you are going to make. You can start an online business for like 100 bucks, and you could make that go very well, you just need some exposure that's it.

[bitcoiner247]

Competition is good for your business, it drives development forward. One of the reasons why plan economy does not work(communism) is because there are no competitors when the government owns all the businesses. Why would you bother to bother and to improve your products and services when everybody has to buy from you anyway?

When you have competition you have to move forward to win marketshare and to survice. Thats makes the products and services better. Not only is it good for your business, but is it also good for society as a whole. Everybody will benefit from constantly improved products and services. That is the main reason to why free economies does not want monopoly situations. It is not good for the society, and at the end not good for the business either.

You have to like your competition, thats the way how to deal with it.

[eightdots]

In starting a business you need to consider the budget of course now, what does the community needs its becomes more effective than what others store already have and you want to compete, now if you already mind and picture out what you need you must need to canvas the price of the equipment and the location consider if there's a lot of people nearby walking, tons of business nears on it, so you have an idea if you will become an effective store right there, competitor is normal but you must need to know how to market yourself and your product, the most effective wins and gains profit.

Do not consider just the places around you, in this day and age starting a shop doesn't make sense to me, starting an online business feels better. I have a friend who sells shirts, the most common and boring job anyone can ever do, there are million other places, and yet he makes money.

Well he did used AI to make designs, and he used some company that does "print to order" as well, he did checked out some examples, but seemed good enough quality, was terrible after 10+ washes, but still it was good enough for the price. So he did basically just upload his images that AI did, and he did marketing, that's it.

I believe online is where the small shop owners should go, starting a brick and mortar business isn't really acceptable these days and doesn't make sense, costs a lot and upfront capital requirement doesn't worth the income you are going to make. You can start an online business for like 100 bucks, and you could make that go very well, you just need some exposure that's it.

When you start a business, you should plan to do something different from other stores and attract consumers. Businesses that do the same job in the same way cannot be different from each other and expectations are usually not met. There are many things that will make it easier for a business to compete and to provide these conditions, research should be done before starting a business and should not be rushed.

Today, many ways to make money have emerged. While opening a store used to provide some advantages, things have become more difficult now. Business owners may have difficulty in situations such as workplace rent or lack of expected sales. Not everyone can do business online or prefers it, but today things have become different and it is necessary to keep up with the times.

[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

As a business owner you have to accept that you will face intense competition if you are successful and able to make a lot of money. There's a few ways you can try to protect yourself, like using trademarks or patents to defend unique products or processes that you invented. If you're a website owner or do things like manufacturing artwork, then you should probably seek to defend your copyrighted works as well. Sometimes your brand reputation can be the distinguishing factor or a specific location can give you a slight advantage that will make you profitable compared to other people. It can be a good thing though, because failure to innovate can cause you to stagnate and having to deal with competition should revitalize any business.

[Webetcoins]

It's all depends on the line of business that you are into. There are types of businesses that have settings and spacing, and such need to be respected. If it's a business, they have associations; you need to check if such is allowed. In my area, there is an approved spacing for medical stores. 
 
But if it's just a regular business where all you need is to strategise your pattern of marketing and make sure that you retain the customer you already have sometimes won't even leave you unless you were not treating them right, that's when your competitor will buy them over.

This is the difference between B2B business and B2C business. If you are doing B2B then it doesn't matter where you are and who opens a shop near you, but obviously he is a B2C shop and that means he is going to have hard time. Think of a place where it's the only shop of it's kind, and people love it, then we would just have people lining out of the shop, it would be crowded and everyone would wait and this shop would take them as customer slow by slow.

But if there is another one, those extra people would just go there, why wait? This is just one example and we need to remember we are going to see this very complicated situation as something to handle as it goes by, we can't know what to do from a forum post, so it will take a time to get this used to it.