Too Much Competition In Your Market? Here’s What To Do

Have you ever been stopped in your tracks by the competition? Have you ever lost a deal because someone beat you to it? Have you ever wondered if you should be in another market because there are just too many competitors in yours?

Recently, an investor reached out to me in frustration: he told me about the challenges he was having while trying to do deals in his market, and he complained about how much competition there was in his market.

Then I shared with him the following strategies… and thought I’d share these competition-busting strategies with you as well:

Competition-buster #1. Outwork everyone.

There is no substitute for outworking someone else. If I ever face competition in my market, I find out what they’re doing and then I commit to doing twice as much (or more… sometimes 10X as much) as they’re doing. It’s always the antidote. The purpose is never to put them out of business but rather to simply do more than they’ll ever do.

Competition-buster #2. Pick a target market.

Most investors just try to serve ALL sellers and ALL buyers who come to them. However, you shouldn’t TRY to serve everyone, you should pick a small group of people you can help and focus on them. This elevates you to the status of expert. And while your competitor is busy spinning his or her wheels to find deals, you’ll be attracting the right deals to you.

Competition-buster #3. Stand out with your branding.

Your branding needs to do a better job of communicating what you offer. Most investors have generic branding so your branding needs to be special. When you stand out, it makes the rest of your competition irrelevant.

Competition-buster #4. Build relationships.

This is the most important thing: build relationships with people. The only reason competitors can get into your market in the first place is because they see the opportunities and they want a piece of the pie. But what if they didn’t see any opportunities? That CAN happen when you build POWERFUL, STRONG, SERVING relationships with as many people as you can. Get on a first name basis with as many people as possible and you’ll wipe out your competition before they even start.

Competition-buster #5. Serve like crazy.

When you help your sellers and your buyers, go the extra mile. Heck, go the extra TEN miles. Give as much as you can. Most investors don’t do this (the sad reality is: many investors are only in it for themselves and they only “transact” with sellers and buyers instead of actually serving them). But if you serve sellers and buyers, you’ll create positive relationships and those turn into referrals… and referrals kill the competition too.