Here’s Why You Shouldn’t Copy Your Competition
In business, you will always have some competition, but there are various ideas of how a business should compete. In this video, see what Matt thinks you should do in response to your competition.
There are tons of people out on social media giving business advice. Some of it is good advice, but most of it isn’t good. In this series watch CapForge’s owner react to different advice videos. He’s an expert in all things business and has 20+ years of experience under his belt. Some of the things he reacts to might even surprise you!
Video Transcript:
Business Advice Video:
Do not compete. Whatever business you’re in, whatever your competitors are, don’t look at them. Create. Create new systems of doing business. Create new ways of marketing. Create new ways of doing YouTube. Create new ways of advertising. Create new ways of doing ecommerce. Am I gonna be posting “top 10 secrets to get rich”? You will find results, competition it’s very difficult to find longer satisfaction because you’re not building things for you. You’re building things because you’re jealous and it’s like you’re not even jealous of somebody else, what you are is you’re jealous of the fantasy that you’ve created in your head of somebody else’s life. So don’t compete ladies and gentlemen, create. And create the best version of yourselves. Like that’s what this, that’s what this game is all about.
Matt’s Review:
Okay, I think there’s definitely something to be said there for being original, right? If you’re just a copycat, it’s very hard to be the No. 2 or No. 3 person, right? Think of YouTube content right, Dude Perfect came out, they do trick shots.There’s lots of other channels that started doing trick shots that maybe even do better trick shots, more difficult trick shots, more amazing trick shots but they have a tiny fraction of the viewership of Dude Perfect because Dude Perfect started it and built their brand around this is the kind of stuff we do and they’ve got a huge audience. And it’s hard to compete by to try to do what they do just a little differently. So from that standpoint getting into business you wanna have something that makes you different than the competition. You don’t wanna just copy the competition. You wanna have something that makes you different or better or specialized or narrow down to a specific group or something else. So I think he’s got definitely a point there in that being creative in how you approach the problem, who you serve, how you serve them can be to your benefit. And not just trying to knock off and copy the competition is going to be much harder to get anywhere much harder to stand out much harder to get any traction after somebody’s already established themselves in doing something, and you’re just the me too person. Don’t be the me too person, be the me first person. You don’t have to be radically different, you have to be enough different that you can draw the distinction people can see it and people can choose to go to you first instead of you second. So I think he has a good point and I think that’s something worth thinking about when you launch into a business.
