During recent coaching environments, I realized that many people and small businesses are living in a bubble. So what exactly do I mean? Businesses and owners (especially in small towns and cities) get caught up in their own world in a radius of 25 km and only go with what they are used to. They haven’t learned anything new because they are still in their own comfort zone. However, a successful business owner or partner does a current market analyses of the local area and considers the potential national competition that could roll into town. Staying in your comfort zone is just as much a fatal error, as having the competition changing the game plan over time or even quickly with today’s progress and the web.
So how does one get out of the bubble? Burst your bubble knowing the results will move your business in a forward direction. Stepping out will create some fear knowing that you are walking into uncharted waters. You just may find out some bad news. But you can’t manage what you can’t measure and you can’t win against what you don’t know. As they say in every gym, “no pain no gain”
May I suggest a little effort to evaluate your competition every month by updating your spreadsheet based on new information? That could be as easy as looking at your competition’s websites or even having an unknown staff member request services, products, pricing or get a quote. It is important to remember in marketing not to focus on similarities, but key in on the differences. Yes you must compare apples to apples on your newly found information, but look at what you offer as your differentiation factors. That’s the way to burst the comfort zone bubble. You can then fight to win business focused on how you’re different. That can be very refreshing to many new and potential customers or clients.
So living a bubble may feel comfortable, but the result of these type of actions end up in lost business, lower revenues and even dissatisfied customer or clients. So burst the bubble, feel the pain and get the gain!