How to compare to your competitors?

In business there are always competitors. Contrary to popular opinion it is necessary to know and understand what your competitors offer. Potential clients are going to research and compare you with others in the market. How will you stand out from them if you aren’t aware of what they offer? Knowing your competitors and developing your point of difference is fundamental to success.

Do your people recognise and value the point of difference for your business and can they effectively communicate it?

Ritchies IGA is one of the largest independent Supermarkets in Australia, but this wasn’t always so. In fact, about 20 years ago Ritchies IGA was on the edge of closing their doors forever. CEO, Fred Harrison had to develop a strategy to stand out from the 1000’s of other Supermarkets around the country. Offering great specials and rewarding customers is a start but not enough to convert people permanently, because in reality most Supermarkets offer this. Fred’s development of the Community Benefits Program was the turning point for Ritchies. The program enables each customer to nominate a school, club, or charity to receive a certain percentage of the profits from their purchases. Today, thanks to this key Point of Difference, Ritchies appears on Australia’s top 20 retailers list and has donated over 50million dollars to nominated organisations.

So, the TRUTH is; although you are special, extraordinary, and provide value in what you do every day, you probably aren’t unique. There are likely 100’s or even 1000’s of others that are just like you. One of the greatest strategies to thrive in business or life is to find a way to stand out from your competitors, and that starts with your point of difference.

So, DARE to be bold. Dare to take chances. Do not be afraid to try something that has never been done before. When you are confident in what your point of difference is, learn how to convey it in different ways to effectively communicate it to any individual or corporation along your journey. Drop an emoji if you are ready to dare to stand out.

Our greatest weakness lies in giving up. The most certain way to succeed is always to try just one more time.

– Thomas Edison


Ferne Eliz King

Love Life Love YOUR Life

About Ferne

Ferne is globally recognised and called upon for quickly accelerating complex change to achieve business strategies.  Translating strategies to actionable plans, prioritisation of those actions, engagement from the right people, bringing business architecture to life or your life plan if individual and in many cases driving the change as a program director.  The bottom line is Ferne accelerates businesses or individuals to achieve outcomes and enabling that is her passion.

What's the consequence if you take no action?

“If you do the same thing today as yesterday, your tomorrow will be the same as today”.  Ferne Eliz King

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