🏆 Focus on Your Customers, Not on Your Competition Costs

Alex Hormozi says to focus on your customers, not on the competition. Many small businesses worry about each other. The real goal is to improve your product for your customers to make more money.

-- 💭 Focus on customer needs, not competitors.

🎯 Improve your product over competing brands.
- 💰 Customer obsession drives higher profits.

Customer Focus Over Competition Costs

In the video "The Biggest Cost of Competition" from Alex Hormozi, he explains that obsessing over your customers is not about your competition. The competition takes care of itself. Small business owners often look at other small business owners and see them as competition, but they are not usually true competition. Typically, both parties just have subpar products. The biggest cost of competition is the obsession over what everyone else is doing rather than taking that same obsession and applying it to your customers, which would ultimately make you more money.

Focus on your customers, not your competition. When you shift your energy to understanding their needs, your product improves. In turn, satisfied customers drive sales and growth effortlessly.

In a compelling talk, the speaker stresses the importance of shifting focus from competitors to customers, emphasizing how businesses often misidentify their true competition as other companies rather than recognizing deficiencies in their own offerings. By prioritizing customer needs and experiences, companies stand to unlock revenue potential and outshine the competition organically. This perspective urges business leaders to innovate and enhance their products based on customer feedback, facilitating lasting loyalty and growth.

Now, I'd love to hear your thoughts! Share your insights or personal experiences regarding focusing on customers versus competition in 25 to 100 words in the comments below. Engage with two other comments, and don’t forget to like three of your classmates’ contributions!

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