Why Does Your Competition Keep Beating You?
Recognizing why your competition is beating you is the first step in getting on top in your market and receiving the work opportunities you want and deserve.
We live in an ever-expanding online gig economy where work is outsourced to the highest bidder and those who can’t keep up are left behind. Freelancing is competitive, and if you don’t have a player in the game, you and your company will get less and less work as your competitors stay on top of this business phenomenon. It is extremely frustrating seeing your competition beating you, and it’s even more frustrating when you feel like you’re doing all you can but still find the deals are going to other companies. The following are potential reasons why your competition may keep outpacing you and what you can do to close more work as a freelancer.
You Don’t Understand Them
To make it in the world of freelancing, it is as important to understand your competitors as it is to understand yourself. If you don’t understand your competition, you place yourself at a disadvantage. It’s like showing up to class without having done any homework. You feel unprepared and incapable of performing your role. It might help you to go through the process of a competitive intelligence analysis in order to better understand your specific industry niche. Know who within each target market your offering resonates with. Know who your competitors are and what they offer to your industry. Doing this will give you the edge you need to stay competitive.
You Don’t Have Brand Recognition
Even if you know and understand your competition, if your brand is unclear and doesn’t catch people’s attention, your competition will always have an advantage over you. Your brand is who you are and what you do, and if that is unclear you and your services are less likely to be acknowledged or desired. Make sure your brand (i.e., your logo, product or portfolio of services) is identifiable and easy to understand. When this happens, your clients know who you are, what you represent and trust you to provide the services they want and need.
You Have a Scarcity Mindset
Despite having a clear and trustworthy brand, your competition will always beat you if you have a scarcity mindset. With so many freelancers working now online, it can be easy to think that there will never be enough work for you to do and that people will choose other freelancers to work on projects rather than choosing you. If this is the case, your competition will beat you every time because you don’t believe that your skills and offerings are different enough to be chosen over a similar competitor . By changing your scarcity mindset to a confident, abundance mindset, you should receive more opportunities for work and become a real competitor within your industry niche.
Your competition will beat you every time if you don’t believe that your skills and offerings are different enough for a client to choose you over your competitors.
Recognizing why your competition is beating you is the first step in getting on top in your market and receiving the work opportunities you want and deserve. Make sure that you take the time to formulate a plan outlining how you will respond to your competition’s initiatives during the bid process. Just be sure to listen to what your customers want rather than what you think they need.
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