Manage episode 324450945 series 2771508
In this part of your discussion, you focus on the concept of competition in business and the idea that there's room for everyone, provided they offer value and authenticity. Here are the key points from this section:
- You share a conversation you had with a photographer who questioned the idea of entering a competitive market.
- You draw parallels between various competitive markets, such as burger joints, grocery stores, and pizza businesses, to illustrate that competition is a common feature of life in the United States.
The "More the Merrier" View:
- You highlight the American perspective of "the more, the merrier" in business, emphasizing that competition is welcomed and encouraged.
- You reference Elon Musk as an example of an entrepreneur who doesn't mind other businesses copying his work, as it leads to more quality products for consumers.
- You ponder why consumers choose one product or service provider over another and how these choices are influenced by personal preferences and needs.
- You share your experience with a business coach, Mike Kim, who became your favorite because of the quality and quantity of free content he provided and his likable personality.
Mike Kim's Success:
- You discuss how Mike Kim beats his competitors by offering quality content and being genuine in his desire to help people.
- You emphasize the importance of being oneself and showcasing one's personality when creating content to connect with an audience.
Is There a Limit?:
- You question whether there can be too many businesses of a certain type in a niche and encourage entrepreneurs not to assume this without trying.
- You suggest that market volume should determine whether there's a limit to the number of businesses in a niche.
There's Space for One More:
- You express the belief that there's almost always space for one more business, especially in the online space, as long as it offers value and quality.
- You stress that there can never be too much of a genuine individual or brand.
Inspiration and Motivation:
- You inspire entrepreneurs to get their products, services, and content out there, emphasizing that the world needs their contributions.
- You encourage people to be a force for change in the world and remind them that they are needed by others.
- You conclude by asserting that competition, far from being a threat, can make businesses better and that people are waiting to pay for valuable products and services.
In summary, this section emphasizes the importance of embracing competition, providing value, and being authentic in the business world. It encourages entrepreneurs to overcome any fear of competition and contribute their unique perspectives to the market.
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