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Spying on Your Competition
Why Keeping a Close Eye on Your Competitors is Necessary
Doing market research prior to starting your business is always wise, not to discourage you from trying but to figure out prior to making an investment whether there is merit to your ideas. Instead of feeling discouraged when you realize how many coaches, speakers, SEO experts, and more there are in the world — or even just in your city or county — consider this competition to be a good thing. This is proof positive that a need exists for people specializing in your niche market and there are enough clients for everyone to prosper. Spying on your competition can be viewed as a positive and necessary activity, as it builds relationships over time and keeps everyone at the top of their game.
Now dig a little deeper into your research and determine how many of these coaches are in your specialty. Again, not to discourage you but to encourage you to set yourself apart, create a unique selling point that will attract your ideal clients.
When is Spying on Your Competition Unethical?
I first learned about spying on your competition while working in the real estate business. The managing broker of the very first office I worked in used to share his research and findings with everyone in the office at the monthly meetings. He explained…
