Tips & Talk 48 – A Heart-to-Heart About Your Competition

Hi there.

It's Sue.

And thanks for joining me for tips and talk day.

These are bite-sized topics that I pull from community questions and

things that I'm observing in the world of handmade small business.

If you'd like to submit a topic,

DME, over on Instagram at gift biz unwrapped,

let's have a heart to heart conversation about competition.

Yes, this breadth stopping gut wrenching topic.

None of us get a pass from experiencing our physical and

emotional responses.

When the subject of a competitor comes up just like others,

you probably compare the quality and the prices of your products,

your social media following counts,

and then many other unconfirmed stories you make up about all

the ways they are more skilled,

knowledgeable, or personable than you are.

Here's the truth.

No matter how successful you get,

you'll never truly escape.

Comparisonitis I recently had a conversation with a well-respected much admired

powerhouse of a business owner who shares the same emotions that

you probably do about some of her competitors.

I was shocked to hear her talk this way,

but it reinforces that this is something that doesn't go away

with time or with increasing sales or reaching major professional recognition.

Given this,

you really only have three choices.

I bet you thought I was going to say to,

Nope, I'm giving you an extra choice here.

So three choices you can decide to accept the fact that

this is part of the gig.

It's what you buy into when you start a business and

you're ready to play big,

all in,

bring on the competition,

or you can start your business in play small,

stay under the radar and reduce your vulnerability,

but also limit your potential.

Or you can decide not to join in the game at

all. I don't know about you,

but I'm an advocate for only one of these options.

The first one taking the chance and going all in.

I decided a long time ago for all three of my

businesses to give it all.

I have take the hits deal with the emotional impact and

revel in the successes that come my way.

I encourage you to do the same.

It really is worth it because the truth is if all

you want to do is carry around a business card and

say, you own a business.

Are you really a small business owner?

Or are you just pretending a facade of sorts,

ouch, to truly work and grow a solid profitable income generating

business. You have to take chances and accept risk,

but when it comes to the competition,

there are things that you can do to work through whatever

comes your way and address the topic of competition.

Head on first,

accept the fact that it is not only possible,

but likely that you'll be copied.

I'll tell you a scary story.

Have I told you this before?

I don't remember if I have,

but it's well worth repeating about 10 years ago or so

I was at what was then called the craft and hobby

show in Anaheim,

California. We were exhibiting for the ribbon print company.

So this was way before I even started gift biz on

wrapped at breakfast.

I got into a conversation with the woman next to me

who was attending the same show over the next few days,

I got to know her better.

And as time went on,

she confided in me why she was at the show,

prepare yourself for this.

She went up and down the Isles identifying products that could

be easily replicated.

She'd take a picture inconspicuously,

I guess,

and then send it off to China that night.

If you can believe it.

By the next morning,

a Chinese factory already had a prototype and was selling it

online for,

of course,

cheaper than the original designer,

all within less than 24 hours.

Honestly. True story.

You can bet this is still happening and on a bigger

scale today.

How about what Amazon has been seen doing these days?

It's not right.

And depending on your legal protection,

it may or may not be lawful,

but it's out there.

Sometimes it's not as deceptive and sneaky as this.

Have you seen the new Dunkin donuts,

omelet bites.

They come in two flavors,

bacon and cheddar and white egg and veggie,

Hmm, looks suspiciously like Starbucks,

egg whites,

starring bacon and Greer,

cheese and egg white and roasted red pepper.

They even come in the same base,

cardboard tray besides one tasting decidedly better than the other.

My opinion,

of course,

I first glance,

the only difference is Duncan's are shaped with a little hole

in the middle,

kind of like a donut.

I'll give them a small little point for being clever there.

My point is,

no matter how big or small your businesses you are exposed

and may be copied for you,

the copying will probably be done by a smaller business competitor.

And you can deal with this.

I say,

decide now that you know that it will happen.

So you're not surprised when it does.

And you already have a plan to address it.

I had to do just that with the rip and print

company, my biggest competitor stopped my website and copied my every

move where product was concerned.

I mean,

seriously, he'd been in the business for decades before I showed

up, but not until I started adding creative products to the

mix to serve my customers needs and requests.

Did he start doing the same infuriating?

I share this because I'm right in there with you.

I've experienced what I'm talking about in regard to competition,

but did I close up shop and back away,

not a chance game on this leads me to how you

deal with competition.

What you do to keep a unique identity for your brand,

retain customers and build loyalty.

I'll start with the hardest one first create product individuality.

Something unique about your product that when seen or experienced is

identifiable back to you.

I say this is the hardest because it is really hard

to find a product characteristic that isn't able to be replicated

in all my years.

There's only one company I found who has truly kept their

product from being copied.

This is the Zulu grasp beaded necklaces from the leaky collection.

Katie leaky talks about this way back in episode,

number 49 of the podcast to summarize Katie lives in Kenya

and employs the Mussai women to make these beaded strands from

the Zulu grass that only grows in the rift valley.

China did try to copy and sell her product,

and guess what?

It couldn't be done.

The Zulu grass has such unique qualities and when died takes

on a special effect,

all that China was able to do is recreate what looked

like a little child,

plastic toy necklace.

It disappeared from the scenes pretty quickly because nobody was buying

it. Now I know that pretty much all of us can't

have a special,

almost unattainable element like Zulu grass to work with.

But another approach to the same idea is what Mike Lindell

of my pillow does with all of his products.

He calls out a characteristic that is part of his product

that makes it special.

And then he attaches it to his brand.

His pillows have a unique fill that allows them to quote

unquote, give you the best night's sleep.

And they're also washable.

Do other pillows have a field that allows for a great

night's sleep and our other pillows washable.

You bet some are,

but only Mike pointed out.

He also does the same thing with his Giza sheets made

from the finest cotton in the world.

Giza grown only in a region between the Sahara desert,

the Mediterranean sea and the Nile river sounds exotic.

Doesn't it?

It makes you think it's exclusive only to my pillow,

but is it?

I don't know,

but I do know he's the only one who pointed out

and has connected it to his brand.

Listen closely.

The next time you see his commercials on TV and you'll

see what I mean.

You can do the same thing.

What is it about your product that you can call out

and connect with your brand Sheila of heavenly treats for you

own to gift business in Nashville?

She has claimed a chocolate guitar along with a huge guitar

case gift basket as her own.

The cookie joint makes a product called cookie fries,

which are cookies shaped like French fries,

complete with dipping sauces.

So just like fries and ketchup,

cookie fries and dipping sauces.

You can bet this.

One's got a lot of legal protection,

but my point is pick a specific feature of your product

that provides a benefit that your customer desires and pointed out

over and over again.

Another way to reduce the impact of your product being copied

is to add a virtual product option to your business.

This is what I did with the ribbon print company in

response to the story I was sharing a minute ago about

my competitor,

besides our software being one of a kind,

I also created training programs,

special downloads,

and a private Facebook support group only available to our customers

that sets us apart and still does to this day.

The funny thing about this is I wasn't doing it consciously

as a reaction to the competitor.

I was doing it because it served the needs of my

customers. And that is always where you should focus your energy

to serve them.

In your case,

you may create virtual classes,

teaching the basics of something.

You can make that way.

Your customers have the option of buying a finished product or

trying their hand at making it themselves,

or provide virtual cooking classes that include products.

You sell,

you get the idea a third way to insulate yourself from

the impact of someone trying to copy your product and stealing

your customers is to create a personal bond between you and

your customers.

As a small business owner,

you are the face of your brand.

These days,

it's easier than ever to present this to your audience.

You can go live on social,

create videos you include in your emails and interact with your

customers via direct messages.

The only hard part is for you to actually do it,

which is an entirely different podcast topic.

However, bringing forth your personality is the one true thing your

competitor can never,

ever copy.

And it's something you don't have to spend time creating.

You've already got your personality and style.

You just have to let others see it.

So in summary,

as a serious small business owner,

I want you to stand tall with confidence,

present your handmade products boldly and with pride and where the

competition is concerned.

Glance back at them,

knowing you have a plan in place your in control to

attract and retain your most loyal customers.

That's a wrap.

I'm a get to the point kind of girl.

And this is what you can expect from these quick midweek

sessions. Now it's your turn go out and fulfill that dream

of yours.

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