Why competition is a good thing

If you put a coke machine on a school campus and it sells 100 cans a day you would think that adding a Pepsi machine would make the Coke machine only sell 50 and the Pepsi machine sell 50.

Or perhaps it would be 60 for Coke and 40 for Pepsi.

But a marketing study done showed that they actually both sell 200 cans each.

Why?

Because instead of asking themselves if they want a Coke, they ask themselves if they want a Coke or a Pepsi.

This happened to me.

I owned a personal training studio. One day a competitor opened in the building right next door. Now both of us where feeding off each others advertising. It drew more people to the area. Many would go shopping at their place and then come to my place. At first I was scared but in the end we both won.

Seems counter intuitive but sometimes having competition can increase sales for each.

I’m a business coach that helps business owners gain control of their business with the use of systems. Download my free Business Freedom Roadmap for my step by step approach.