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The $100 MBA Show

MBA585 Is Being Better Enough? How to Compete in a Competitive Market

The $100 MBA Show

Omar Zenhom

Marketing, Entrepreneurship, Careers, Business

4.91.2K Ratings

🗓️ 6 April 2016

⏱️ 13 minutes

🧾️ Download transcript

Summary

Often, entrepreneurs enter a market where there already is an established player, the go-to resource for whatever niche they're in. How are you going to compete with them if they already have taken a huge slice of the pie? Is having a better product or service good enough or do you have to have other things in place to compete and win customers over? Let's listen to this episode to learn more! Hit play!

Transcript

Click on a timestamp to play from that location

0:00.0

Heyo! Welcome to the $100 R. M. Yay Show, the business podcast that comes at you every single day

0:15.5

with our daily 10 minute business lessons for the real world. I'm your host, your

0:20.2

coach, your teacher, Omar Zen Home. I'm also the co-founder of the $100 MBA, a complete

0:26.0

business training and community online over at 100 MBA.net. If you're just

0:31.5

getting started and you want to make sure you nail your business idea,

0:35.0

make sure you check out our free seven-part course on idea validation.

0:39.0

Just head on over to 100 MBA.net slash free hyphen course.

0:44.0

In today's lesson we discuss

0:45.8

is being better enough if you're in a competitive market?

0:49.7

Is having a better product than your competition, all you need to compete with them, or is being

0:55.7

better just not enough.

0:56.9

You have to have other things in place in order to compete in a competitive market.

1:01.4

This is what we're going to be discussing today. This is a reality a lot

1:03.8

of us will face because we're going to enter markets that there are a lot of buyers.

1:07.2

And often we're entering markets where there's already an established player, the go-to resource,

1:12.4

for whatever niche you're in.

1:14.0

How are you going to compete with them?

1:15.0

If they're already a huge name, people rely on them.

1:18.0

Is having a better product or service good enough,

1:20.0

or do you have to have other things in place? That's what we get into so let's get

1:24.6

down to business.

1:27.0

Today's episode of the $100 ahea show is sponsored by Front App.

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