Learning from Competitors

By Adam  |  22 Nov 2015 12:00:00

If you want to start an eCommerce website, there's a good chance that there's an existing business doing something similar. Don't be disheartened if another business offers something similar, because for virtually every single business in existence, there'll be another one offering almost the same thing. People choose one business over another due to its unique selling points, so as long as you have some differences when compared to similar businesses, you have nothing to worry about. But speaking of other businesses, you can actually learn a lot by studying your competitors.

 

If you take a look at the products and services offered by competitor businesses, it will give you an idea of how you could give your own business a unique angle. What are some flaws with competing businesses? What are they failing to give their customers? If you are able to identify that and then provide it with your own business, then your unique selling point is likely to be very strong. You can also use your competitors to find prospects; if they're on Twitter, for example, you could go through the list of people who follow them and then pleasantly interact with them all, letting them know that your business is available as an alternative. Futhermore, you can identify the strategies that your competitors are using on social media and then use them for yourself; the same applies for content marketing. If you struggle to come up with ideas for a blog, just read the blogs of competitors and take inspiration from them!

 

Essentially, if you want to start a business, but are a bit worried about what to do in certain areas, you don't need to be afraid because lots of other businesses will have already done it and you can learn from their examples. Of course, I don't want to suggest that you should just copy your competitors; if you do this, you'll just come across as an inferior copy which nobody will buy from, but you can learn from themSo hopefully you can take the ideas of another business and then use them to springboard yourself in a completely new direction. Take inspiration, but don't steal ideas too overtly. Whatever you decide to do, I hope you'll be able to come up with some superb business ideas and enjoy steady sales.

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Adam
RomanCart Content Expert
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