| If you've got a great product or service, you're going to | | | | center. |
| be copied, challenged, reversed engineered or outright | | | | The center is located in a building with multiple other |
| pirated, it's a fact of business life. | | | | companies, a tax preparation firm, a hair salon, a |
| When I first entered the medical billing business back in | | | | tanning salon and a realtor. Do you see any potential |
| 1989, there were no other companies in my niche | | | | complimentary service offerings in that list? |
| (ambulance billing) in my state. Fast forward 23 years | | | | The obvious ones are the tanning salon and the hair |
| and there are now ten companies that are directly | | | | salon. The three businesses did join together to create |
| competing with my firm for some part of the | | | | a SPA DAY event where, for a fixed price and fixed |
| ambulance billing business in my home state. | | | | menus of services, a person could enjoy what all three |
| Now the interesting thing is that only one competitor | | | | had to offer and enjoy a complimentary lunch as |
| has opted to match service levels and they are the | | | | well...a great idea but that's the easy one. |
| latest entry into the game. This competitor only has 5 | | | | The massage center also structured Stress Reduction |
| clients, and none of them are of substantial size or | | | | Sessions that were 30 minutes in length and at a |
| volume, should I be concerned? Absolutely...it's time to | | | | reduced price during tax reason and for the buyers of |
| reinvent our service offerings again. | | | | property through the realtor. These are great |
| This poaching of clients, ideas or advertising offers and | | | | complimentary offerings because, even with the great |
| methods is simply part of business and it took me a | | | | tax or realty services, each can still be a stressful |
| while to both realize and to not to get angry about it. | | | | event. |
| They say that imitation is the sincerest form of flattery | | | | Both of these are great ways to increase business, |
| but not when the flattery costs me money to get. | | | | especially the home buyers, since they are relocating |
| Now all of this said, it doesn't mean you should simply | | | | into the area. |
| accept this as a fact of live and take it lying down. | | | | These are just a couple of quick, inexpensive, |
| Your job, my job, is to continuously innovate, look for | | | | innovative and creative ways to fight competition and |
| new services, new delivery methods, complimentary | | | | build strong alliances with other local business owners. |
| products or services that can be offered to clients. Let | | | | What can you do in your local area? |
| me tell you about one great, but relatively simple, | | | | In the words of McDonald's founder Ray Kroc, "My |
| example that some business owners might overlook. It | | | | attitude was that competition can try to steal my plans |
| comes from a small two person massage therapy | | | | and copy my style. |