Do You Own Your Market?

If Not, There Are Only A Few Possible Reasons Your Prospects Buy Elsewhere...

When we talk in our newsletters about owning your market, most people initially think we're just trying to be catchy and cute. On the contrary, we're dead serious. When we say "separate yourself from the competition...then eliminate them," we mean it literally.

One of our favorite mainstream clients we've worked with is an auto repair shop that regularly puts three to four competitors out of business every year. His business operations are run so flawlessly, his marketing is so compelling, and his customer satisfaction is so high...customers are irresistibly drawn in and drawn back time after time. They are helpless. In their minds (and in reality), they would be FOOLISH to go anywhere else to get their cars fixed.

Now understand - this client doesn't go around gloating about destroying his competitors. He doesn't hate their guts or put big X's on a map at their location after they quit. He just has a big problem with the idea of anyone taking his/her car to get fixed anywhere else - and not just because he wants to make the money, It's because he knows if they go anywhere else, there's a good chance that they'll pay too much, their car won't get fixed right, and the customer will get mad at ALL auto repair shops (you probably can't relate, right?).

So Why Don't You Own Virtually 100% Of Your Market?

Most business owners don't even realize that complete market dominance is an option. They just figure there's always going to be competition in business. And they're right - and wrong. Just ask Bill Gates if he has any competitors in operating software. Or ask our client from the above example if he has any competitors. The answer in both cases is yes. But if you think that anyone else has half a chance at cracking their empires...it ain't going to happen. They OWN their marketplaces. And so can you. So why don't you?

We've found that there are really only a few reasons why competition even exists in the first place. I mean, you would think in every category of products and services there would be one competitor that was so good and so aggressive that they would smother their competition. But it just doesn't happen very often.

More tomorrow.

For more information SUBSCRIBE to our new weekly marketing newsletter.