Dealing With Competition

Tips on dealing with competition:

  • Know them front backwards and sideways

  • Know their strengths, know their areas of opportunity and DEFINITELY know their areas of opportunity

  • Tell the prospect / customer all of the great things that the competitor does that your product or service can do as well, but add at the end their areas of opportunity that YOUR product / service has to offer

    • Don’t focus on the things you both do, you’ll lose them. Ask questions as to what they like and say “that won’t change, but tell me what you don’t like…if you could change one thing, what would it be?”

  • Do a SWOT (Strengths Weaknesses Opportunities Threats) analysis for each competitor in your space

  • Don’t ever talk bad about a competitor, people can see right through that. Instead just let your sales skills do the work and sell on the fear of the unknown. So pitch it more like “you don’t know what you don’t know and what you’re missing by not being with me.”