(and Steal All Their Best Ideas)

No matter what business you’re in, you will benefit greatly from studying your competition.

Just take a look at the world’s best—athletes, entrepreneurs, executives, and etc.—and you’ll see that they all make studying their competition part of their routine. Kobe Bryant watches videos of his opponents before games, and Sam Walton visited stores that competed with Walmart.

Why do the world’s best do this?

Because it works.

However, when analyzing your competition, you must know what to look for. It’s not about copying their ideas, it’s about figuring out their strategy and why they do the things they do.

Discover What Your Competitors Do and Why

When I say to learn from your competition, some people will no doubt just copy everything they do.

That’s not the answer. Think about Chess for a second. If black copies everything white does, black will always stay one move behind. The same applies to business. If you copy your competitors, you’re still one-step behind.

However, if you analyze each move your competition makes, and then understand why they made that move, you’ll prevent yourself from missing out on lucrative opportunities.

For example, I recently started experimenting with running live webinars. Where did I get that idea? Someone else in my niche was doing it, and was having great results.

So, I tried it out, and let me tell you, I’m glad that I did. I didn’t copy their webinar topic, but I copied their strategy, and in 9 days I gained 761 new email addresses, and then generated ~3,000 in revenue from those new emails.

Source: diythemes

About LaraNet: We are a web design firm focused to help you to grow your business and communicate with your customers and prospects using two simple but powerful tools: 1) Interactive Website and 2) Internet Marketing Strategy on social networks like Facebook, YouTube, Twitter, LinkedIn, etc …
Whether you want to work with just a web page, or launch or improve your presence on Facebook, Google+, LinkedIn or communicate with your customers through newsletters, or improve the location of your business in the search engines through Search Engine Optimization, or start marketing your products or services online, in LaraNet we can help you.

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