A lot of small business owners are worried about the competition.
“Are they watching me? What do they know? Are they stealing my ideas?!“
This seems to be especially true for people in the 6- to 7-figure range: They’ve found something that works and they’re nervous that someone will learn their secret.
But unless you operate primarily on Amazon — where other merchants will literally pirate your white-labeled products, and Jeff Bezos might decide to enter your market and run you out of business —
It’s not about what your competition is doing; it’s about what you’re doing.
According to marketing experts Laura Hanly and Nicole Walters, the key to growing your business — especially for those doing 6 to 7 figures — isn’t hiding your secrets; it’s revealing them.
They say that to secure a place in their market, brands should be more vocal about their identity. They should shout it from the rooftops: “This is who we are and this is what we believe in. Now who’s with us?!”
If you want to hear more about how to use transparency to break through the “7-figure Plateau…
Watch the video above, or read what Laura and Nicole had to say below.
Laura Hanly, Content Marketing Expert
“I believe that for people who are stuck at the 1 to 2 million mark and wondering how to get through that plateau, I think what’s important is to open up your business.
Stop protecting your secret sauce and start giving away what makes you incredible, because inertia is a real force, and showing people what you’re working on is not going to mean that your competitors suddenly change their strategy and start doing what you’re doing.
When you open up your business to scrutiny and show your audience what makes you truly unique, it gives you so many opportunities to find new partnerships, new product lines, answer new questions and enter new markets. There are just heaps of upsides in revealing what makes you unique.
When you’re getting up to that level — to that 1 to 2 million mark — it’s hard to quantify what has made you successful. But when you’ve been at that level for a while you understand what works and what doesn’t, and you can start honing in on what makes you remarkable.
Being able to share and willing to share and go deep on that — that’s what’s going to set you apart.”
Nicole Walters, Sales Expert & Income Strategist
“Right now, we are in a day and age when people want to connect with owners and know where the business and products come form. You have an opportunity to take them behind the scenes in an authentic way and show you how you create your products.
So turn on your computer, turn on your phone, and let people in on your process.
Let them watch you make your products as you get ready to package them, or answer some questions one on one about your sourcing, because these relationships are things that up your “Know, Trust and Like” Factor, and it creates lasting, sticky customers that don’t want to buy from anywhere else.“
0:13 Start giving away what makes you incredible
0:40 There are just heaps of upsides in revealing what makes you unique
1:08 People want to connect with owners
1:20 Let people in on your process