The myth of competition: What’s your “Only”?

Do we, as super-small businesses, actually have “competitors”? Debate still simmers over this in some circles. Let’s chat.

Traditional business-guru advice warned us for decades that we needed to strive for a clear advantage over our competitors. It’s a dog-eat-dog world out there, they warned (and where EVER did that expression come from btw???) and we needed to invest a lot of time, energy and brainpower into ‘beating out the competition.’

Things have changed, and we’re now seeing that competition — while still a reality if you’re mass-marketing a laundry soap with exactly the same formula, branding, and target market as another — really isn’t as much of a “thing” for thoughtful businesses like ours.

For example, say we’re offering life coaching. Sure, there are a lot of people who’ve hung out a shingle for that. That makes for a great big haystack for people to search, in which you hope they’ll find your shiny needle, right? How do you stand out in that massive crowd, and find the people who need you?

Here’s the thing: The reach of social media and online tools have given us the gift of almost limitless ability to find Our People. We don’t need to appeal to everyone. We only need to reach the people who need what we offer and—even more important—resonate with the way we work.

Unless you’re trying to become a thought leader with a million people on your mailing list, you already have the power to attract more than enough people who “click” with your style, your heart, and your combination of offerings to make your business successful. One Facebook ad can reach thousands of perfect people for $10.00.

If we take tender care of the relationships we establish with readers/clients, we can build our followers & fans one by one, each beautiful experience bearing fruit in the form of glowing reviews, repeat visits, and top-of-mind referrals in their social circles. This, in my opinion, is the best way to grow a business: One fan at a time, nurtured by your genuine caring and thoughtfulness.

So in terms of competition…even if there are 20 website designers or acupuncturists or spiritual mediums or soapmakers on your block, you can easily find ways to keep your business thriving, just by a) being kind & trustworthy, and b) being clear about what makes you different from the other 19.

Being kind and trustworthy? Yeah, sorry, that’s part of the deal. We’re afloat in the noisy, indifferent ovewhelm all around us. The things that stand out in sharp relief are when people give a damn about us, and when they keep their word to us (hello Facebook?).

As for that second part: Remember all those branding exercises we’ve been subjected to as we listened to endless podcasts and attended all those ‘free’ webinars? For those who’ve escaped that fate, it’s some variation on these pieces:

With my business/work, I help ____________________ (your ideal person)

to do/be/have _______________________ (the improvement or benefit to them)

through my ______________________ (the products & services you’ve created to help)

Is that ringing a bell?

I always have to remind my coaching clients to also add this part, though:

I’m one of the only ________________ (however you describe yourself)

who _______________________ (what makes you unique).

Examples:

“With my work, I teach Reiki practitioners to bring balance and mental/physical health to a hectic world, through my 1-to-1 coaching and workshops. I’m one of the few teachers who provides a free private Facebook group so members of my community can help and support one another.”

And more “onlys”:

“I’m the rare business coach who doesn’t resort to spammy, automated marketing to reach out and keep in touch with people.”

“I’m the only personal trainer in (your town) that also makes house calls, even offering weekend and evening sessions.”

“I’m the only executive consultant who offers ‘Coaching Walks’ to explore ideas that thrive in the fresh air of nature.”

“We’re the only bookstore around that has both new and used books AND a cozy espresso bar, serving coffee drinks made with our own freshly-ground beans.”

“I’m the only holistic health practitioner with an in-house laboratory for quicker results and faster diagnoses.”

What’s your “only”? If you don’t know what it is or don’t feel you have one of your own yet, then it’s time to create it. I’m always happy to help you discover that of course, but here are some thought-starters:

What bugs you about other practitioners and businesses who are similar to you? If it bugs customers too, think about how you can fix it and use that as your ‘only.’

Is there a specialty you have, or can envision developing, as a part (or all) of what you do? Can you specialize in helping the apprehensive, the non-technical, the ridiculously busy, the do-it-yourselfer? Grocery stores, for example, are doing a booming business with pickup orders to serve the too-busy-to-shop people.

If you can, ask people who’ll give you an honest answer why they didn’t work with you, or ask honest acquaintances to look at your services/prices and come up with at least one apprehension they might have (cost, length of a program, wait times for delivery, not enough options, other worries). Can you solve it, or can you offer other things in other price ranges/options that would allow more people to see what it’s like working with you?

Look at reviews online of similar businesses, and see where customers are wishing they’d offered more. Online reviews can be a challenge, but they can give clues to peoples’ sensitivities and wishes. Offer what others seem to be missing and tell people about it.

Can you create a narrower audience for a specific service or offering? For example, a designer might create a special package just for nonprofits that work with kids, a yoga studio might offer a class just for guys who aren’t very bendy, or a consultant might offer graduates of the local small business association’s classes a special package for new startups and become the go-to person in the community.

Is there something daring and value-added you can add to your products/services that helps people? Chocolate, a free Q&A session, a group to help them implement what they received from you?

If you have some ideas already, go to Facebook and explore whether they have a way to target the audience your offering is meant for. Those ubiquitous blue buttons encouraging you to “Boost” any post? Click one to play — be sure Cancel Ad when you’re done! — and just type a few things into the “Detailed Targeting” portion of the boost specifications (at the bottom). Start typing a few things to see if you’re able to target a specialized audience perfect for a particular offer or article or video of yours:

Give these things a try, and see if you can find an a-ha about your “Only.”

Because once you do, you most definitely have no competition, and can simply focus on doing the work you love, promoting it to the right-for-you audiences, and finding your unique and heartfelt niche from which to serve.

And the debate is over.

Love,
Margaret

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