eCommerce Lifestyle
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Their Weakness Is Your Strength

Their Weakness Is Your Strength

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Anton shares a recap of this past week and shares a lesson that all eCommerce entrepreneurs need to hear.

 

Summary

In this episode, Anton reflects on a year that went by incredibly quick and sets his sights on the future. For anyone entering the eCommerce marketing, and other markets in general, Anton stresses supplier research and competition monitoring. As he looks to build a new brand in a market where 40,000 people attend a yearly conference and the top players have been around for decades, he knows he must research and find the weaknesses of the competition and make them his strengths.

Some highlights include:

  • Anton recently was a guest on the podcast “Readily Random” where they talked about how they got started and how it’s the wrong mindset to get ahead of the game and hope to stay on top without looking for ways to improve.
  • Supplier research and competition monitoring are vital to success. Once you enter the market, they will look for ways to improve on your weaknesses as you should constantly look for ways to improve upon theirs.
  • Even if you are not an expert in your niche, keep learning and researching to find areas of improvement. Their weakness = your strength.

 

Read The Transcript:

Hey, what’s up everybody? Anton here from ecommercelifestyle.com, and welcome to another episode of the eCommerce Lifestyle podcast. Coming to you today on a, I think it’s Wednesday morning about 8:30, in October already, which is insane. I was thinking, okay, how much time do I have before Bali, before our retreat this year, which is the end of October, and I literally just realized this morning, I’m gonna be on a plane in less than three weeks, around the world to hang out with 100 of our coolest members over at Drop Ship Lifestyle. So, pretty cool, but yeah, this year is flying by. And just wow, like a good time to reflect back on what kind of goals that we set for our company, and honestly for you as well. What kind of goals you set for yourself, and your company, and just see where you’re at right now and then make a plan for the next three months because this is obviously our favorite time of year, I should say, as online retailers, because this is when the holidays come, and this is when people buy just to buy and sales spike. So, a good time to put plans in place for that. But yeah, that’s not what this episode’s about. I’ll probably cover what we’re doing about that in a future podcast here, in a future rant on the way to the office. But yeah, I actually also realized that wow, it’s October and I haven’t recorded one of these probably in like, I don’t know, 10 days or so and, you know, I can make excuses but the main reason is I was out of town, I was actually down in South Carolina last week visiting family, my mom lives down there. She kind of semi-retired down there and my sister was down there, so hanging out with the family with my wife, my baby, and just having some fun while trying to battle this like cough and cold that I’ve been dealing with, which, yeah, it’s been going on for like a week and what made it even worse is last week, maybe you were part of this, but last week I had a webinar scheduled for Thursday and, I think it was Thursday, September 27th, and it was a webinar that I’ve never done before and it was all about brand building. So, how to kind of transition from either just a normal retail type store to an actual brand, or how to get started that way and then different ways to monetize it and it was a presentation that I had put a ton of time into, but I forgot that I scheduled it for Thursday and Thursday is when I had to wake up at three a.m., get on a plane at five a.m., fly down to Charlotte and, yeah, been battling like, you know, a cough the whole time. So I did the presentation to about 3,000 people online on about three hours of sleep with a cough. But the good news is it definitely went over really well. Everyone seemed to get a ton of value from it, so yeah, if you were there, I definitely appreciate you being there and hope you got a ton of value ’cause I know I had fun doing it, even though I might have sounded like I was about to, yeah, die from choking too much. But, yeah, what I wanted to talk about in today’s episode is something that actually came up last night. So, I’ve talked about this before, but a lot of what I do for my different companies is kind of just trying to get the word out there and spread our messages, which has to do a lot with branding, you know, when you build a brand the right way. We talked about this in a previous episode, but you have a mission, you know why you’re doing what it is you’re doing, and then part of your job, as your company’s leader, is to spread that message. So, last night at 7 p.m., I was, excuse me, there’s the cough. Last night at 7 p.m., I was a guest on someone else’s podcast and the podcast is called “Readily Random”, it’s definitely not gonna be live for like four weeks or so. I can give you a heads up when it goes live, but it was cool. The host and I, Larry, were just kind of talking about eCommerce, business in general, where we both got started, and he was saying, you know, he started back in the early 2000s with selling on eBay and then he said, back then one of the things that he noticed is he couldn’t really build something that was 100% passive. Right? He couldn’t just build an eBay store and have it running and not have competition, do something to beat him out. Okay and like, he said it to me. He’s like, “All right, Anton. So, how do we deal with that? Right? The fact that when we do something good, whether we maybe optimize our product pages, or maybe we come out with a new killer ad, or maybe we just figure something else out that the competition isn’t doing and we get ahead of the game, how can we have that just be solidified and how can we have that just stay in place to the point where we stay making whatever we’re accustomed to when it comes to sales and money?”And I kind of just laughed a little bit and I was like, “Larry, like that’s not how the world works.” You know, excuse me. And I was like, “How great would that be if every time you became number one, or even number two, or even number three in your market that you didn’t have to do anything and you just stayed there? Like how great would that be? But obviously that’s not how the world works so that’s the wrong mindset to begin with. Right? You have to shift that.” And basically the way that I explained to Larry how we’ve been doing things in our eCommerce businesses since 2007, is once we have our systems in place, once we are there, once we are making sales, once we are growing, it never ends. Okay, this isn’t just eCommerce, this isn’t just drop shipping, this isn’t just online business, this is just life in general. You know, whatever you’re doing, if you’re doing good, you better believe that there’s gonna be people out there that are watching you, that are trying to do better than you, that are gonna try to be more creative than you, that maybe are gonna be willing to take on more risk than you, that are gonna be just thinking and have their mind open in different ways than you. So, it’s never about being number one and just sitting there because you made it, that is not how the world works. So, how do we deal with that, right? Well, we always have our eyes open. So, a big part of my eCommerce training program, at dropshiplifestyle.com, is all about, excuse me. I really do apologize for the coughing, but not done yet. But yeah, a big part of Drop Ship Lifestyle is doing supplier research and competition research, finding out who your future competitors are and then being sure that you’re tracking these people because even if you do what you have to do to get ahead of them, again, they’re gonna realize that they’re not number one anymore, they’re gonna make changes. So, a lot of what you’re gonna be doing as a business owner is monitoring your market. That means monitoring your competition, that means monitoring your suppliers, that means monitoring your ads, and always looking for room to improve. Now, I’m gonna give you some real world examples of this and I also want to show you how this, how different weaknesses of other companies are your strengths. Okay? Their weaknesses are your strengths. This is also why, if you’re listening to this right now and maybe you’re one of the people out there that doesn’t have an eCommerce store and doesn’t have a drop shipping store, and you’re like, “Okay, I want to get into this, but how am I going to when there’s other businesses out there that have been established for a decade?” It’s because they are not perfect and no one is. And that, because they’re not perfect, means there’s room for improvement. It means there’s room to do things differently and it means that if you do things right, if you see their weaknesses, if you put enough time into your research, then their weaknesses as a company right now that they might not even see, you’re gonna see, you’re gonna fix those with your new eCommerce store, with your new brands, and you will be able to do better than them. Okay?This is why you can take out companies that have been business for, again, a decade, because a lot of people, just because they’re making money feel like all is well. They don’t have to put the pedal to the metal in terms of optimization and in terms of improving and if you’re willing to be that person that seeks out their weaknesses and makes it so you don’t have them, you will win. I’ll give you a perfect example. Okay? Right now I am building a new brand. It’s not just an eCommerce brand, yes we’re gonna be following my drop shipping model, but I’m also gonna be private labeling and I’m also gonna be having different brand partnerships. It’s gonna be monetized a bunch of different ways. Okay? But that business is going into an industry where there are associations of people that have been established for decades. Okay? There’s groups of 40,000 people that meet at annual conferences to talk about this thing that I’m now just breaking into. So, why do I, as a guy that’s never been involved in this new industry or brand before, think I have a chance when I’m competing with companies that are part of, again, an association with 40,000 members that have been sponsoring events there, talking at events, being part of this for decades? It’s because I can already spot weaknesses. I can use my knowledge and not about this industry, but about eCommerce and about online business, to spend the time doing the research to reverse engineer the people that are winning and then to figure out why they’re winning and why they’re not doing everything they could be to stay there. So my plan right now, and what I’m working on for the next nine weeks, is becoming that company that’s positioned to take over, to be number one in that industry. Now, this is what I’m covering. You know, I talked about on that webinar that I did, so I’m not gonna dive deep into it now, but this is my focus. Right? I’m getting into an industry that’s well established with brands that have been around for, you know, since I was born, and my plan is to become number one, not in the next two weeks, not in the next two months, but I’m laying the groundwork now so that these companies are gonna realize pretty quickly that they’re not doing everything they have to do win that market and my company should be there, yeah, within the next couple of years.So, that’s kind of the message today guys. Let your other, you know, business competition, let their weaknesses become your strengths. Don’t feel like you’re wasting time when you’re just on Google, when you’re on their websites, when you’re just doing research, because with that research, you can make decisions that position you for success. Okay? So, I’m at the office now, I’m gonna go in, I’m gonna continue my research process, hope you do the same. Hope you have a great day wherever you are in the world and I will speak to you all soon. Oh, and by the way, if you are enjoying this podcast, if you’re getting value, and if you’re listening on iTunes, please do jump into the iTunes store and leave me a quick review. I would love to see it and it will also help this podcast get spread to more people that are growing their eCommerce businesses along with us. So, appreciate it, appreciate you, and I’ll talk to you soon. Bye.

  • Anton Kraly says:

    Key Point: Competition is a GOOD thing.

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