Dealing with Competition

02/19/24 • 21 min

Welcome to my podcast! In today's episode, we will be discussing the topic of competition for small businesses. Many new businesses view competition as a negative force that they must overcome in order to succeed. However, I believe that competition is actually a good thing for small businesses. In this episode, I will share with you how I deal with having competition and how it can be used to your advantage.

As a small business owner, you may feel overwhelmed by the presence of competitors in your industry. It's natural to want to stand out and differentiate yourself from others in order to attract customers. But what if instead of viewing competition as something to be feared, we could learn how to use it to our advantage?

So whether you're just starting out or have been running a small business for years, this episode is sure to provide valuable insights into the world of competition. Join me as we explore how competition can be used to drive growth and success for your small business!

I have been running a successful award winning niche manufacturing business here in the UK for the last 20 years, selling around the world. My Podcasts are created to give you an insight into some of the driving forces behind small business in the UK, with an aim to helping you on your business journey.
All opinions are my own. I do not offer financial advice, for that I suggest you consult a professional.

Previous Episode

Start at the Beginning

Thinking of starting a business, but don't know what do to do? I go though some of the stages of the things you need to consider at the start of your journey.
From the idea to how to make it, then advertise and sell, picking up key points along the way This podcast will hopefully help you to take the first steps along the way to creating a successful and popular business.

Next Episode

Navigating Social Media

Are you ready to transform your social media presence from lackluster to lively? Discover how to turn your business's social media channels into hubs of genuine engagement and authority. We promise you'll learn how to shift your perspective, seeing social media not just as an advertising platform but as a space for meaningful conversations. We delve into the power of sharing behind-the-scenes content, compelling anecdotes, and valuable information, all while maintaining a professional appearance. We'll guide you through the essentials of handling negative feedback with transparency and confidence, showing that even criticism can be an opportunity for growth.
Get ready to embrace social media criticism with newfound confidence. We'll teach you how to stand proud of your products or services, even when faced with detractors who may try to exploit your platform. Learn why it's crucial to stay true to your convictions and understand that not everyone will be a fan—and that's perfectly fine. We emphasize the importance of authenticity and consistency, treating online interactions as enjoyable, friendly engagements. Plus, we’ll highlight the pitfalls of trying to hide information online, using the Streisand effect as a cautionary tale. Tune in for this insightful discussion and walk away with actionable strategies to elevate your social media game.

Wayne Talks - Dealing with Competition

Transcript

Hello, this is Wayne from Wayne Talks and today I am going to talk about something that is on the minds of everyone who creates a business. And that is one simple word. The word is competition.
Now, competition is something that can generate so much angst, particularly in new businesses, they look at the business world and think, this is just my business and my business world. And yet there are other people out there who have their own ideas. They're probably working in the same area that