Why Competition Is Good For You & How Social Media Gives You A Fighting Chance (Even If You’re New)
I brought 23 of my employees to come with me to go sightseeing in Norway the other week. We checked out the Opera House and also stopped by the Statue Park. It started to snow a little bit.
I talked about the importance of competition and social media nowadays.
Competition is good for you. Whenever you’re in business, you’ll have to use competition to help drive you forward.
I use it as motivation so I don’t get passed up.
And whatever people think social media is now… multiply it by 100X. The days of TV and commercial ads are soon going to disappear.
You have to catch on to the trends.
Look at Nasty Gal, Kodak, and American Apparel who used to be valued at $900mil/year and now just sold to a Canadian company for $60mil.
Some companies might just be too cocky. What you can’t be too cocky in is in social media. If you do, then you’re bound to get passed up.
Big brands are doing it wrong, you would think that they would be spending money on social media right now but they’re not. A big brand like Taco Bell should have 80 million followers right now if they did it right. That kind of following can easily be monetized to make a good return on investment.