Business is a competitive world. There are already a lot of people selling the same products and services you are selling. In a situation like this how do you competing in a saturated market? Well, this is possible only when you build strategies that are better than others. You will have to offer better products or services, for comparatively lower price. You can attract customers only when your price is low and your product quality is high. You also need to create better marketing strategy. If you deliver best product and services, you can easily outshine your competitors and you can be successful even in highly competitive niche.
How to Thriving in a Competitive Business Niche
- Thread starter Mika
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If you want to thrive in a competitive business, do what others are doing and do it better, infact do more. If you do just what you competitors are doing them how are you doing better, no difference. Try and also check what they are not doing or what they are doing but not properly done, you can always search for this and find one or more. Some people don't have strategies of business they just role out their business without a business plan and then complain of low sales. That's how it's going to earn if you don't put up a Better strategy .
The best way to thrive in a competitive niche is to innovate, I can remember vividly when Jeff Bezos wants to disrupt the hosting business, a lot of publications called him dumb and he's wasting his money, but he was Innovative and moved everything to the cloud and also create a free tier program that a lot of people flock to just to test the product.
And today the product (AWS) is the most profitable in the Amazon Empire, innovation is the key you need to thrive.
And today the product (AWS) is the most profitable in the Amazon Empire, innovation is the key you need to thrive.
uptrendfinancialsignal
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To actually thrive in a competitive niche, you should stand out from the crowd and also try to Find your unique selling proposition (USP) and always own it. Be authentic, passionate, and dedicated to your work. Addoitionally , you need to Build relationships with your customers and colleagues too . By doing this, they 'll become your biggest cheerleaders. And you shouldn't not be afraid to innovate and take risks too. This is how to become very successful and also thrive in a very competitive market .