Written by: Vickie Sullivan | March 19, 2019
When to Fight a Competitor Head On
Yeah, it never feels good to be disrupted. So, articles like this from TechCrunch about new low-cost competitors can be cause for alarm at first glance.
Let’s take note of the topic (reducing small business expenses) and the ripple effect. Yes, the playing field will open up, and that does impact the competitive landscape. And as much as I loved the narrative (free of the influence of capital!), I paid more attention to the overall trend: the oncoming rise of tractional competitors.
This development begs a bigger question for our businesses: How do we deal with transactional competitors? My answer: Make sure you really have to.
For many high-end thought leaders, these DIY-ers are not ready for us. They are too cash-strapped, too new to know the consequences of bad advice. So the real question is: Is the impact here a loss of market share, or can you partner with these folks to nurture future clients? What is the real impact here?
Listen: How to Take Advantage of the Unbundling Trend
At 30,000 feet, competitors from the unbundling trend can be a viable threat. And that can seem scary at first. But when we drill down and determine the impact, many “threats” look bigger in our heads than out in the marketplace.
Before we go out and fight, let’s make sure the battle is worth the effort.
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