4 Ways to Differentiate Yourself From Your CompetitionSep 11, 2022
Have you ever had a great idea for a business that you know is right for you…and then you find out that someone else is already doing it? How do you deal with competition? We’ll talk about it in today’s episode of the More Than a Pastor Show. Let’s get started!
Hello my friend! Welcome to the More Than a Pastor Show. I’m your host, Rich Avery. This is where we help pastors leverage your ministry know-how into sustainable income outside of the church, through a business or side hustle that’s right for you. So you can serve God and provide for your family, no matter what.
4 Ways to Differentiate Yourself from the Competition
And my main point here today is to look for ways you can differentiate yourself from your competition. Here are four key ways to do that:
1. Focus on a Different Niche or Segment Within the Niche
Look for ways to niche down in order to serve a particular segment of the population you want to help. For me and Jon and Les, we could decide to work with only youth pastors, or to help pastors only create an online business vs. a service business, or we could focus only on pastors in our denomination, or in our region of the country. There are lots of ways we could niche down, and become a big fish in a smaller pond, vs. a small fish in a big pond.
2. Provide a Unique Experience
This partly relates to #1 but I think it can stand alone on its own too. Experience is a great differentiator. A business that has been around for 100 years feels different in the customer’s mind than the business that got started a few months ago. Also, no one has your unique experiences, skills, or take on your business idea. So let your experience set you apart from others.
3. Set Your Price Based on the Value You Want to Create
Price is often the first differentiator we think about. Some businesses seek to be the cheapest option. Others seek to be the most expensive. Because price says something about the quality or value of the product or service. So if your competitor is going for the high dollar customer, maybe you decide to go for those in the middle.
Service also creates value in the minds of your customers, and the service experience you provide becomes what your brand is known for. So create a service experience that is different from your competition, wows your customers, and keeps them coming back for more.
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