Create A Company In A Hyper Competitive Market

hyper competitive market

What’s up ? This is THE stephane ANDRE !!! I watched an Olivier Roland’s video  and I learned some good stuff.

People often tell me that they want to create a blog, a Youtube channel or a company but the market is very competitive and they wonder if it’s worth it. It’s true that in markets like personal development, fitness or photography, these are markets where you will not start in the same way as in a market where there is little competition.

Feeling

feeling

It’s not because the market is hypercompetitive that you have no chance. The main thing is to differentiate yourself from others and to allow people to connect with you. That’s what happened to me a few months ago. I was looking for podcasts on fitness and I found Shrugged Collective . But I didn’t like the guys voice so I changed to The Model Health Show  and I like this podcast. These 2 podcasts are listened to by thousands (or millions) people and what is important to understand is that these podcasts can’t please everyone, it’s impossible.

There are people who will like what you do and there are people who will hate what you do. This is why there is a place for everyone. In theory, you can offer exactly the same product/service as many other people in a market but there are people who will buy your products/services rather than others because people have more feelings with you.

Shrugged Collective and The Model Health Show are the same thing, they’re podcasts about fitness. What makes the difference isn’t the content (because now, a lot of people make good content) but the podcast’s voice. The question you ask yourself when you’re listening a podcast is : « Am I going to spend hours and hours listening to that voice and that kind of elocution ». It’s the same with companies, especially on internet when you do Personal Branding (reputation) when you allow your audience to connect with you.

Have Your Own Authentic Style

authenticity authentic

It’s like in everyday life, there are people who will like and others who will hate you because we’re human beings. When you buy a computer or a smartphone, who will you buy it from ? You’ll buy it from people you like the most and it’s normal.

Of course, having your own authentic style isn’t the only way to differentiate yourself. But attention, it’s not because people like you that you’ll automatically have a business that works. It’s necessary to have an idea that has economic potential. What I have noticed is that people neglect the importance of connecting with the audience, the community or the clients.

I know there are people following me because they have a good feeling with me and not with my competitors. And others have a good feeling with my competitors and not with me. It’s not a problem, it’s normal, it’s human and it’s part of life.

Don’t be afraid to enter a market with hypercompetitiveness, there is always a place for you. In this case, it’s necessary to realize that it will be difficult to make your place in a competitive environment. It’s difficult because you should be in a market where there are behemoths. But the advantage of a competitive market is that you know it’s a profitable market because there are already a lot of people living on it.

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-Steph

A Photo Of Fear (Part 2)

 make game

2. Make it a game:

JACK STACK and adhesion in five sessions

take 5

Jack Stack was nervous. That was in 1983 and he had just joined his employees to buy SRC, engine remanufacturer in a near-bankrupt company, from their parent company, International Harvester. It had been remarkably with $ 100,000 applied to a $ 9 million loan to a debt ratio of 89 to 1. The bank officer who made this loan was fired within hours whether agreed.

The 13 managers who used their savings to make this possible are as nervous, but they should not be. The $ 100,000 will be worth $ 23 million in 1993, only 10 years later. In 2008, sales had increased to $ 16 million, then to more than $ 400 million and the value of stocks increased by 10 cents per share to $ 234 per share.

What should be thanking ?

The game. Frequent games.

Jack Stack taugh all his employees how to read financial statements and put numerical goals next to individual performance figures  on grease boards around the plant. Daily goals and public accountability were combined with daily rewards and public recognition.

The Hawthorne plant of the Western Electric Company in Cicero, Illinois, also understood this, albeit accidentally. That was in 1955 and their conclusion was significant: increasing the lighting in the factory made workers more productive. Then someone pointed out (possibly an intern) a bewildering detail. Productivity was also improved when the lighting was dimmed ! In fact, do all these changes seemed to lead to increased productivity.

It turned out that each of these changes, workers suspected they were being watched and so they worked more. This phenomenon is also called the “observer effect” – and soon to be known as “the Hawthorne effect”.

After making search on the design of this “game”, Jack Stack and Western Electric have concluded a simple equation: measurement = motivation.

See the progress in the evolution of numbers gives a fascinating repetition and creates a positive feedback loop. Once again, the measuring instrument is often more important than what you measure. To quote the industrial statistician George Box: “Each model is wrong, but some are useful”.

It is essential that you measure something. But this raises a question: to replace self-discipline, how often do you need to record things?

That is, how many times do you need to save data to get hooked and never stop? In the experience of the brilliant Nike+ team and the experience of their users, more than 1.2 million runners who were followed over 130 millions miles (209 millions kilometers), that magic number is 5:

If someone just put online two runss on the site, they may just try. But once they did 5 runs, they are overwhelmingly more likely to keep operating data and put all their runs online.

Aristotle was right, but it only lacked a number: “We are what we repeatedly do”. Barely 5 times (5 workouts, 5 meals, 5 of what we want) will be our goal.

When in doubt, “take 5” is the rule.

3. Be competitive:

Fear of losing and benefits of comparison

be competitive

Do you want to work harder to earn $ 100 or  to avoid losing $ 100 ? The Centre for Experimental Social Science of the University of New York is any indication, the fear of loss is the big winner.

Their experience with three groups looked like this: the first group received  $ 15 and was told them that the $ 15 would be taken if they lost at an auction later; the second group, was told they would receive $ 15 if they win the auction and the third group was controlled without indications. The first group outbid as regularly during the auction.

The economist Eric Schotter who participate to the experience explains the results:

Economists typically attribute excessive bidding to risk aversion, or the joy of winning. What we found is that the actual cause of overbidding is a fear of losing, a completely new theory from past investigations.

This is not a depressing realization. It is useful. Knowing that the potential loss is a greater motivator than the reward, we can establish the success by including a tangible risk of public failure. Actual weight loss supports this. The examination of samples of 500 people randomly from over 500,000 users of DailyBurn, a diet site and exercises tracking website , those who face their peers in “challenges” lose an average of 5.9 lbs (2.6 kg ) more than those who do not put compete.

There is another phenomenon that the groups are an ideal environment for change: social comparison theory. Clearly, this means that in a group, some people will do worse than you (“Sarah lost only 1 lb (0.45kg ), it’s good for me!”). And others will do better (“Mike’s nothing special. If he can do it,  I can do it too”). Seeing inferior performers makes you proud of even minor progress, and superior performers in your peer group make greater results seem achievable.

Looking at the overall data DailyBurn, those with three or more “motivators” in their group lost an average of 2.6 kg (5.9 lbs) more than others.

Use peer pressure. It’s not just for children.

 

fat loss, gain muscle, game, competitive, 5,Fear ,losing ,benefits,comparison,JACK STACK

-Steph