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Would you know what to do if you were attacked by a swarm ofkiller bees? "Run!" you say, and you would be right; sortof.You must not only run, but you must run in a zigzag pattern.What if it were a mountain lion? Stand your ground, andmake yourself appear as big as possible by holding out yourarms and, if wearing a coat, opening it so it makes you lookeven larger. Mountain lions respect size and probably won'tattack if they think you are bigger than they are.("Probably!")What about a bear? Play dead. Bears lose interest if youdon't fight.What's the lesson here?Know your enemy and exploit their weaknesses.Let's think about that in terms of our businesses. If weknow our competition (the 'enemy' in this analogy) and weknow their weaknesses, we can exploit them to come out ontop. For example, speed has always been an issue in theshipping business. UPS has always been very efficient, butsometimes we need to get documents delivered overnight. UPSwasn't setup to do that. Enter Federal Express. They founda weakness in the system (speed of delivery) and capitalizedon it, offering overnight delivery no matter what. Theiradvertising slogan is a classic: "When it absolutelypositively has to be there overnight."In the first example, an entire business (Federal Express)was built around a weakness. But what if we have anexisting business that has a head-to-head competitor?The better you know your competition, the easier it is foryou to be of service to your customer. Without being pushy,you can ask a prospective customer who else he isconsidering to do business with. If you know all of hisoptions better than he does, you can easily explain why youare the better choice."You are considering Acme to refinish your furniture? Theyare an excellent choice but they tend to use a lower qualityvarnish than we do and, although their results areexcellent, we have found that our results are equal totheirs and the finish lasts longer."The first step, then, is to identify your competition. Itmay not always be as obvious as you think. A movie theater,for example, competes with other theaters as well as withother forms of entertainment. After all, people who want tobe entertained have many different choices besides seeing amovie. Another example: a gift basket business has tocompete with other basket makers as well as other forms ofgifts.After the competitors have been identified, you must becomefamiliar with what they do and how they do it, comparingyour business to theirs and why someone would want yourproduct or service over theirs. I would be surprised tofind a successful auto salesman (key word being"successful") who doesn't know just as much about competingvehicles as he does about his own. That way, he can askwhat else his prospect is considering and discuss hisproducts with their weaknesses in mind. And, at the sametime, he appears to his customer to be knowledgeable,dependable, and helpful!Know your competition. It's the best way to be the best.
Killer,Bees,Would,you,know,wha