Eric Worre: How I View Competition - 2017 - Episode 43
People respond differently to competition in Network Marketing. Some people view competition as a negation, and they don’t want to engage in it at all. Other people, I would say most in Network Marketing, are highly driven by competition. They want to win, create an advantage, and measure themselves. I view competition as market share.
Inside your company, you have a certain market share. My goal would not be to compete against somebody who started before me or has more influence than me. My goal would be to figure out what my market share was in the company and then grow that.
So, if I’m 1% of the productivity in the city that I’m involved in, I want to grow that to 3%, 5%, 10%, and onwards until I ultimately dominate that local landscape with my distributors. If the company comes out with a new product and only have a limited amount, then I want my team to have the majority of that product when they do that launch. I’m going to engage in activities that try to maximize those product purchases within my network so that I have a competitive advantage.
If the company holds a convention with a capacity of 10,000 people, I want to grow the percentage of people at that convention who are on my team from convention to convention. If it’s at 1%, then the next time I’ll have 3%, and so on and so forth. I’m going to continue to try to maximize. If the company expands the size of their convention, then I have to come up with strategies so that my team gets as many of those tickets as possible the day they announce the event. Then I can get up to 10% or 15%.
Again, for me, competition is about market share. It’s about market share with products, product growth, customers, the number of people, and the percentage of rank advancements within my team. I measure market share by the growth from event to event or milestone to milestone. This is just how I think. I think as an entrepreneur in relation to market share on everything: tickets to conventions, rank advancement, new product orders, customers, local domination within a certain geographic area, and domination in different cities represented in the company. I drive everything on market share.
Even if you’re brand new to Network Marketing, start thinking about market share. It will be difficult to measure right now because it’s small, but understand that the next time, the market share should just creep a little higher. Measure yourself against yourself. Your market share should increase a little every time. Make it your goal to have that number always going in a positive direction. Market share is how I view competition in every way when it comes to business.
More Ways to Connect With Our Free Training Resources:
Join Our Facebook Community -
Follow Us on Instagram -
Watch More Training Videos on YouTube -
Get News Updates from us on Twitter -
Follow Us on LinkedIn -
Subscribe to our Podcast Channel feeds – Perfect for non Mac users
iTunes free podcast channel. #1 Podcast for Network Marketers -