Wednesday, November 27, 2013

Is Your Competition Tasteless? Four Ways To Out-Innovate. By: Ryan Blair-Part #1/2

I’m a big proponent of innovation, and I’m extremely competitive. These two drives have both pushed me beyond my limits to success, and also distracted me to no end.

One of the reasons why I started focusing on the direct selling industry was that I saw an extreme lack of innovation among its companies. So, I chose a start up that was focusing its energy on being an innovative disruptor.

But the irony of being the innovation leader in an industry is that other companies will simply copy you. I thought that if we all focused on innovation, “may the best innovator win.” That’s not the case, because sometimes it’s the best copier who wins. (We’re using Facebook, not Myspace, right?) I received a report the other day that listed 63 companies in my industry that have copied some element of our business model. Just thinking of it makes the hair on the back of my neck stand up.

This forces us to reevaluate our strategies, and compete through innovation.

Innovating means taking a risk, and it makes us vulnerable to successful copycats. But the consequences of not improving existing products, creating new ones, or embracing emerging markets at the right time is to be outpaced by our competitors just when we are patting ourselves on the backs for implementing less risky strategies that normally sustain us. So, we channel our competitiveness into innovation to survive. Here is my advice…

1. Don’t focus on the competition, they’ll never give you money.” – Jeff Bezos

This Jeff Bezos quote has become a general rule in my company when dealing with competitors. Invariably, your employees will start spending an inordinate amount of time tracking your competition, evaluating them, fearing them, or being annoyed by them. You have to steer the team’s focus on improving your value proposition and innovations to it. Truth is, we are all competing for the same consumer dollar and today’s consumers have limited discretionary spending, a lot of awareness, and they have a variety of choices. There are a lot of very good companies they can spend their money with. So, find out what you need to do to engage your consumers, and don’t focus on your competitors.

Article By: Ryan Blair (Forbes Magazine)

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GJ Reynolds also known as “G” is a Passionate, Playful & Powerful Warrior Entrepreneur, Author, and Life Transformer. He is also a Visalus Founding Promoter, Ambassador, Co-Founder of the Body By Vi 90 Day Challenge, business developer, coach, mentor, trainer, public speaker and radio host. He teaches others how to have fun reclaiming their Life, Health & Prosperity! G is driven to assist others to reach their full potential and having their magnificence to shine. He loves to teach and work with like-minded entrepreneurs and professionals who choose to reclaim their personal power and transform their life, health and prosperity. He lives a life of purpose, on purpose and for purpose. He enjoys the process of his personal, spiritual, and professional journey, while assisting others to do the same. G is at his best when he is learning, teaching, inspiring, creating, organizing, and leading the way! He also enjoys communicating with others that are of like mind and is on a mission to assist millions of people to transform their lives! Need a little help?

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GJ Reynolds and/or SimplyG, and/or Beachlifestyle,
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