PODCAST: Who Is Your Company’s Real Competition
Chances Are Your Business Is Competing With Netflix
If I asked who your company’s competition is, would you rattle off a list of others in your industry? Edging out rivals has long been a priority and the lens through which companies view their own success. But, hyper focus on the competition draws attention away from your customer, the true driver of growth and innovation.
No matter what products you sell, your competition isn’t just similar products. According to the Harvard Business Review, it is everything in a person’s life that stops them from achieving the goals your product is designed to help with. If you’re a gym, your real competition might be the insatiable draw of Netflix or a child’s softball game.
Bring the team together to brainstorm about the increasing number of commitments that draw time and money away from your products. It’s good to keep one eye on direct competitors, but it’s better to understand where you fit into your customer’s evolving needs.
