Christian Business Coaching Expert Advises How to Handle Your Competition, Part 1
Christian business coaching expert Tim Redmond helps his clients outsmart, outwork, out market, and out produce their competition. How does he do that? That is a question that he frequently gets early in his coaching relationship with his Christian business coaching clients. These people that he serves very good and godly people. Power To Create Wealth. They want to honor God and honor other people in the process of growing their business. Sometimes there is a double mindedness of how they are supposed to operate in the marketplace. James chapter 1 from the Bible warns us that a double minded man is unstable in all his ways.
So how is a client of a Christian business coaching specialist supposed to respond to their competition? If you take a look at Jack Welch, the former CEO of General Electric who increase the value of that company more than 40 times or 4000% in the 20 years that he led the company set said this, “buy or bury the competition.” Tim Redman does not necessarily advise along those lines but he does help companies create a better product and service with which to serve their clients and helps them market their product and service in a very compelling, action producing way. So what are some of the steps that are necessary to be able to identify your main competitors and available compete effectively against them.
Please note that is very important as a Christian (and those coached by Christian business coaching people like Tim Redmond) to have a healthy perspective of competition. Many people with the scarcity mindset look at competition as an either or analysis. They think of it from the perspective of I have to when and you have to lose in order for me to be successful in business. That is not necessarily true. What happens with competition in the very positive aspect of competition is that anything courage each of the companies to improve their product or service while making buying from them that much more attractive. It is what Adam Smith in his book wealth of Nations talk about the power of the invisible hand increasing the overall quality of the product and service being produced in the marketplace.
What Tim is a Christian business coaching advisor brings his clients through, is important to begin with an analysis of your company’s strengths, weaknesses, opportunities, and threats that may be facing your company. In the traditional strategic planning process, this is called a swot analysis. In this analysis is very important to be honest with yourself in these four major areas and exactly how you stack up against the competition. Your competition doesn’t have to be looked at as your enemy that you have to necessarily destroy, however you want to be inspired by them and you want to be able to out work and outsmart them to be a will to convince prospects to go with you instead of with them. Power To Create Wealth so there are number of questions that I think are vitally important to answer when doing this one analysis.
As a company being led and inspired by Christian business coaching expert, is important to ask these questions: first who are the top three competitors that you’re competing against who are already profitable and effectively selling the prospects you seek to sell to? If they’re already profitable is very easy Power To Create Wealth to be able to take the key elements that are making them profitable and begin to mimic them in some way. Is like Sam Walton, the founder of the great Walmart stores and Sam’s Club’s that are all over the United States and even in many other countries, he said it is always cheaper to be a pirate than a pioneer. It is cheaper to take the good things that another company is doing and begin what they’re doing to be successful. Power To Create Wealth. If you insist on being original and a pioneer having to reinvent the wheel, you must spend much additional energy and resources to be a will to make that original impact.
What effective Christian business coaching experts tell their clients is to create a profitable enterprise as quickly as possible that you got the resources to further fund your growth. There been a number of studies conducted that show the because companies are not profitable early enough in their development, business owners of small businesses and startups run out of money they run out of the emotional strength to keep the company going. Power To Create Wealth. That’s why Tim Redmond and his team of Christian business coaching specialists will take time to study the competition of their clients to learn proven systems and processes that have worked for their clients competitors. It doesn’t always work commitment every aspect of their competitors methods, however, it does speed the process of the trial and error to find out what best works for their clients.
It cannot be said in the to study your competition especially those who are doing much better than you and learn from what they do and learn from what they do not do in the process of growing their business. Another question to ask is how to your top competitors obtain their customers – those people who are there ideal clients most likely buyers? There is so much you can learn from this. What magazines or newspapers to the advertising. What do they say in the radio and TV commercials? What special offers to they offer that turns the head of the prospects that you are also going after? There’s so much you can learn by watching the advertising and marketing efforts of your competitors. So many times business owners are so busy with the daily whirlwind of their own business that they don’t take time to really learn what works and what doesn’t work. As a result, they spend a lot more time learning and adapting to the marketplace. Power To Create Wealth
Another question that a Christian business coaching phenom will ask for clients is not only what are the strengths of your top competitors but also what are the weaknesses? You can learn from your competitors weaknesses and learn to take advantage of those as you create a powerful offer for your prospects. What are the weaknesses that they suffer from? What slows them down or trips them up? Is or anything that you can learn from these weaknesses. To these weaknesses also affect your company? How can you avoid the weaknesses that they face in your company? As a Christian, many business owners do not think it’s good or godly to study and go after the competition.
To make sure you pursue a healthy approach from learning from and out marketing your competition, please call Tim Redmond, the Christian business coach of choice for many business owners all over the US and world at 918.361.3047.