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How To Compete from Behind #516
Does it irritate you when you’re talking to a new prospect and the first thing they mention is that their vendor is your archrival? Does it seem like that competitor is superior to you; faster, cheaper, better and there is nothing you can do to overcome that clear advantage? Or maybe you can’t fathom why people buy from them other than they’ve been around for a long time. It can be frustrating and begs the question, what can you do to compete from behind? Today we discuss a competitive strategy on how business is a game, not a war, and businesses with compassion eventually end up on the winning side. If you’re a startup in an industry with longtime competitors, this is the episode for you.
Today’s Chapter
Never bad mouth the competition.
Give them their due,
accepting where they excel
yet discern their weaknesses.
This is called competing without competing.
innovating, without showing your cards.
selling without trash-talking.
showing value without belittling the competition.
There is no greater disaster than underestimating the competition.
By underestimating the competition, you devalue your business.
TTC #69
Today’s Story
In the hallway, Chris pulled Pat aside, “Pat! I’m so frustrated. I keep losing deals to the competition. Again and again, the prospects keep choosing them over us and I know why. They have a proven product. What am I going to do?”
Pat nodded. “We have tough competitors. We’re new and they’ve been in business for a long time. Customers see them as the safe choice. Be we have something they don’t, We have a new product that in time can provide deep and lasting value. We are the next generation. But, we still have gaps in our offerings.”
“So what am I supposed to do?” asked Chris. “How can I speed this up?”
Pat smiled, “Each time you meet with someone who has this competitor, ask them what they like about them. Listen without judging. Discover where they’re strong. Understand where they’re weak and with this knowledge, we can innovate a better product and in time overcome them in the marketplace. Today they are on top. But change is inevitable. Every dog has their day. It’s time for a new dog.”
Take Action Quote
Never think of your competition as your enemy. It’s dangerous to see another business as evil. Instead think of them as your opponent, battling in a game of little consequence. When you defend yourself without a show of force, you give your opponent nothing to fight.
Lao Tzu said, “When evenly matched armies meet, the side that is compassionate shall win.”
Compassion is the key to success. When you treat your prospects with love and compassion, they’ll see the value of your offering, and the competition will be relegated to an afterthought. This is the way to win from behind.
Watch this episode on YouTube.
How to Connect with Pat Helmers at Sales Babble
Sales Babble shares selling secrets for non-sellers. Masterful selling is understanding what buyers want, discerning if you can help, showing what you have and helping them to make a decision that is good for their business and yours. See https://salesbabble.com
You can be yourself when selling. It’s all about helping others with their challenges and aspirations. I’ve interviewed 100s of sales experts and discussed all things sales: prospecting, qualifying, value propositions, presentations, demos, closing, generating referrals, earning references, upselling, marketing, lead generation, copywriting, and most importantly the right selling mindset. Stop fearing sales and embrace it. Learn the selling secrets for non-sellers and start making a difference today. Here is the entire back catalog of episodes in the sales podcast. Look here https://www.salesbabble.com/sales-podcast-free-advice/
This is a production of Habanero Media https://habaneromedia.net
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