Business Competition: Build Something Different

Competition has been a part of our lives since we were kids. We compete in school to prove ourselves when, in fact, grades are not a tell all. Those who do not excel in the four walls of a classroom are often also very successful adults. Same goes in sports; you need to compete to get the first place, but it doesn’t mean  you are unsuccessful.
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In business, we are taught the same thing, but have you ever thought of ways you can succeed without competition?

​Blue Ocean Strategy
The economy and society have this ‘red ocean’ where we compete in the ‘market.’ Telecommunications are going at each other’s necks to prove who among them have the fastest service. All radio stations are saying that they are number one nationwide. The goal of blue ocean strategy is to get away from this mainstream.

How do we break from this? Simple, think differently. It is cliché, isn’t it? Do not underestimate these two words. It holds so much sense and significance.

Creating Own Identity
Take the music industry as an example in creating own identity. Sure, there is a competition when it comes to charts and awards. However, if you notice, various genres and categories identify one’s music.

BTS is not the new One Direction, and One Direction is not the new Beatles. They all have their own identity, and no one tries to be a ‘better version’ of one another. Everyone wants to be different; everyone tells their own story.

In business, you need to create something that is different than making existing products better.

How Are You Different?
Often, you think to start a business doing something you’re the best at. But instead of asking what you’re best at, why not question yourself how you are going to be different?

Remember when you try to apply for a job, and the recruiter asks you what your edge is? What makes you different from other applicants?

In business, or even in life, acquiring different skills will give you an advantage. By constant learning, you will gain knowledge all throughout your journey. Who knows what kind of new idea you will come across?

Sure, it is critical to know the businesses that come close with your company—same products or service. Look within first, do you have enough security for your workforce? Creating something different matters as much as the protection you provide for your people.

At the Arnold, Bruce & Doerfler Insurance, we work hard in making sure that our clients are well-protected with policies that they can afford. To learn more about how we can help you, please contact our agency at (503) 222-1951 or Click Here to request a free quote.