James Sinclair

In this episode of The James Sinclair Podcast I discuss business competition and how to protect yourself. Here are some of my top tips; you simply can't avoid competition as it is what creates innovation. If you don't innovate you will evaporate. One way to stay ahead is to always be 10% better, make doing business with you 10% easier. Let's look at amazon for example, lots of people sell things online... but not at the efficiency and quality of service amazon provide. They are 10% (probably more) better than everyone else. Make yourself as high barrier to entry as possible. If someone says they want to open an 8 bedroom hotel thats fine, but that is also something another person could easily do. What about opening a 500 bedroom hotel with a lazy river flowing through it and the largest penthouses available... whatever the details may be. This is VERY high barrier to entry and will eliminate almost all of your competition who can't keep up. Regulated businesses are also great. Like our day nurseries for examp