Is your company not making enough money? Are you not at the top of your industry? Want to know the best way to beat your competition?
In this post, we’re going to explain how you can beat your competition by following the rule of “copying plus one.”
The Rule of “Copying Plus One”
Too often in business, companies get caught focusing too much on their own operations and not enough on what’s happening around them. By not monitoring external forces, businesses fail to keep up with industry standards and customer expectations, leaving them always a step behind.
Although businesses do need to monitor internal efficiency and effectiveness, oftentimes the biggest routes to organizational success are found externally. So, this when we bring in the rule of “copying plus one”…
When we say “copying plus one,” this is what we mean: Do the same things that the competition is doing, but do them better/differently, more of them, or both—simple enough. Here’s an example of doing what the competition is doing, but doing it better/differently:
- You’re “Company A” and you want to increase your sales of chicken wings—a product that your customers like to buy in larger quantities (2 x 12 pieces; 24 per purchase).
- You find that a competitor—“Company B”—is getting a ton of sales via their promotion of chicken wings at 24 for $20.00 (usually sold at $12.00 for 12 pieces).
- To increase sales and beat your competition, you offer chicken wings at 12 for $9.98 with a free medium soft drink. This is not only a better deal than Company B’s promotion, but it has minimal cost difference and also serves customers who prefer smaller orders—i.e. it’s “copying plus one.”
Doing things better/different than the competition can be done in many more ways, such as:
- offering a better/different loyalty program
- partnering with top organizations in other industries to improve your services or general productivity
- securing a headline presentation time—instead of a regular time—at a conference
- having a better booth location than a competitor at a trade show
- and many more!
Now, here’s an example of doing more of the same things that the competition is doing:
- You’re “Company A” and are competing against “Company B” and “Company C” for business.
- You currently have free backlinks to your website set up on “Site A,” “Site B,” and “Site C.”
- You find that “Company B” has free backlinks on “Site A,” “Site C,” “Site D,” and “Site E.”
- You find that “Company C” has free backlinks on “Site B,” “Site D,” “Site F,” “Site G,” and “Site H.”
- You continue with backlinks on Sites A-C, while also copying Company B and C by setting up new backlinks on Sites D-H. By doing this, you’ll have a total of eight backlinks, while Company B and Company C will only have four and five, respectively. So, you won’t just be equal to Company B or C, but rather farther ahead because you copied them both—i.e. “copying plus one.”
Just like “doing things better,” doing more of the same things that the competition is doing can be applied to many other business activities as well, such as:
- being on more social media platforms
- getting more “friends” or “followers” than the competition on those social media platforms by adding all of their friends/followers to your accounts
- sponsoring more community events
- participating in more business networking groups
- and the list goes on!
If you’re always “copying plus one” your competitors, the opportunities to jump ahead of them are endless!
In the end, the primary point that we want to get across is that you should always monitor the competition. By doing so, you’ll have a better chance of finding areas where you can improve your company as well as new opportunities to move ahead of the competition.
Of course, because resources aren’t unlimited in business, you can’t always do everything and more than the competition. But whenever you find something that is free, requires minimal resources, or is different and interesting enough to pique a customer’s interest, you should always jump on it. If you follow this advice, you’ll always find yourself on top.
Links to More Information
That’s it for this one!
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