Game of Gains: How do you play?
There are two kinds of people in the world. Those who get excited about competition and those who hide from it. I’m the latter, I don’t even play games because I don’t want to lose. But here’s the thing, you’ll never learn how to win if you don’t play.
Running a business is like playing a game with others. Even if your idea or product is novel, before long, you’ll get new players.
How do you relate with other players in the game of profits? Are you Cersei in the Game of Thrones who plays to destroy all her enemies or Jon Snow who tries to unite all players against one enemy. Your attitude to competition determines how you run your growing business. In this post, we tell you how to play the game and how to stay winning.
“Competition isn’t a bad thing. Somebody can always do it better and that somebody is you.”
― Linda Rawson
Are you your Competition’s Competition?
First things first. Are you even IN the game? If you’re losing many customers to the competition, are you really competing?
Jumia,“the Amazon of Africa”, recently went public on the New York Stock Exchange. However, Does Jumia compete with Amazon? I think not! If they’re not in the same market, they are not competitors. Jumia has a competition in Konga. Defining who your real competitors are is the first step to playing a good game. This is not to say that your growing business cannot compete with big ones.
You should also read: Does Your Hustle Pay? And Other Questions for Small Business Owners
Zoom in. Create your focus group
Daenerys Targaryen, breaker of chains, focused on getting freed slaves to join her army. The North loves honor and loyalty, so Jon Snow played his Stark Card. Cersei, focused on the Nobles. Everyone started with a small group of followers before running for the Iron Throne. Find a small part of the big market you operate in and get them to stay on your side. Competition reminds you every now and then to focus on your real customers.
Find your cash cow, milk it dry.
Jon: we fight with honor.
Cersei: We have the gold. Gold wins wars.
Daenerys: I have dragons.
What is great about your business? What part of your business brings in the most income? Hold to that part and be creative with it, let it get you into the heart of the consumers and roll in the money.
You have it, flaunt it
You know your selling point. But do your prospective customers know it too? How will they know if they have not heard? How will they hear if you have not talked about it?
“If you’re doing great work and not talking about it, you might be playing yourself.” — Moe (Founder, Scale My Hustle)
You should also read: How to Get Started With Marketing Your Small Business In Africa.
Connect. Create emotional experiences
Social business strategist, Bryan Kramer says in his book, business is human to human. Every customer or business you sell your products or service too is more than just another figure, they are human. The key to reaching their hearts is relating with them as such.
Nike has stayed strong over the years by preaching a consistent message that inspires people to “just do it”, telling the stories we can relate with. One of the keys to succeeding in business is by connecting with the people you serve.
Don’t forget Value
Getting customers is the easy part, keeping them is the real move. People come back when they get value for money spent. The more competitors you have, the more likely people are to hear about your kind of product. Give them reasons to buy yours, rise above the competition.
Recently at Triift Africa, we held our first online class for small business owners and before the class was done, they were willing to pay for the next because they received a valuable service. You can be a part of our next class by just clicking this link.
You have 15 seconds, your time starts now
The average person scrolling through social media has 15 seconds or less to listen to you. It doesn’t matter how interesting your Ad is. If they can’t get the message in 15 seconds, they are gone.
Create your pitch. Learn to talk about your business in 15 seconds or less. Tell us what you do and how we can help. Your time starts now.
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