AskPat 972 Episode Transcript
Pat Flynn: Hey, what's up everybody? Pat Flynn here and welcome to Episode 972 of AskPat. Thank you so much for joining me today. As always, I'm here to help you by answering your online business questions five days a week; and as always, you're awesome.
Now, today we have a great question coming in from Adam, but before we get to that I do want to thank today's sponsor, which is FreshBooks because they help serve millions of small businesses, including my own, with managing our business finances, keeping track of income, keeping track of expenses, helping us come tax season and then of course with invoicing too. So, if you bill anybody for anything, you're probably, unless you're using FreshBooks already, not doing it as efficiently as you can and as professionally as you can. That's what they can help you with. If you want to check out their program and everything they've got going on to help you, all you have to do for thirty days for a free trial, is go to FreshBooks.com/askpat and just make sure you enter “Ask Pat” in the “How did you hear about us?” section.
Sweet. Okay, here we go. Here's today's question from Adam.
Adam: Hi Pat, it's Adam here from the Ace Podcast Network; it can be found at AcePodcasts.com. I just want to start by saying thank you for everything that you do. It's been incredibly helpful; I know I wouldn't be where I am today with my financial and career freedom and being in control of my own life, so a huge thank you to you and everybody that works with you. I've got a question that I get a lot and I think that you do really well with this, and it comes in regard to competition in both sort of podcasts and business as well I guess. How do you handle competition? How is the best way to talk about your competition in a positive light without potentially losing some of your audience when it comes to a podcast or in a business with a similar product that you might have? Something that confuses a lot of people that I'm dealing with, and a lot of people would love to know—if it's best to just avoid talking about anyone that might be a direct competition, or if it's better to try to collaborate or pool your forces and really better deliver a message or a product together. I look forward to hearing what you say and thanks Pat. Thanks for everything. Cheers.
Pat Flynn: Hey Adam, what's up? Thank you so much for the question, I appreciate this. You know, competition is an interesting thing. It's like, where do you draw the line between actually wanting to support somebody who has a competing product or whose audience overlaps with yours? Where do you not want to work with them? I think common sense is a part of this, obviously, and the last thing you want to do is confuse your audience, but here's the thing. I feel like if you and your programs include yourself, your personality, your special unique touch and your superpowers and people know that—then so what if other people know if those other things exist?
You are hopefully going to include things that are better and different and unique to you and people are following you and they're going to be more likely, if you do it right, to buy from you. I think that's the most important thing, to make sure that in your programs and the things that you offer—although there may be other solutions out there that are similar—that you are always sharing what is unique about yours, and if you do a good job of building a relationship with your audience, then you're not going to have to worry about people saying, “Adam's great, I love his stuff. His program has everything I want, but I like the other one better because I don't know that person as well.” That's never going to happen, so make sure you include yourself, your voice, your superpowers and you make it clear on the sales page, you make it clear on videos that you share, you make it clear anytime you mention it.
The thing is, I also love the idea of collaborating, even with people who on the surface might seem like competitors, because really you can also be partners. Like you said, you could even work together if you want to. I wouldn't force something like that. If you both have competing products, you're adding to the confusion if you both create a new product on top of that, but there may be solutions where if there's a hole in that market that you and somebody else can work together to sort of double down on the promotion of that and split the income coming from that, that has worked out very well in many different industries to fill such holes.
There are many examples out there, even in my own experience of where on the surface I might seem like a competitor, but then underlying it's like, actually you're helping each other. I think the big thing is to again, make sure you are putting yourself into that situation in a state of mind where you are somebody who has stuff that's unique to offer. There are many examples in other different niches too, for example the financial industry and the fitness industry, where on the surface many people look like their competitors, but then they're actually working together. They're sharing each other's stuff with each other. They mention each other all the time. That's what I love to do. I love to take the Progressive approach and that's Progressive as is the auto insurance company, where Flo—right? I think it's Flo. That person is always mentioning, “Oh, you can get these solutions here, but hey, here's our solution and here's why we feel this is the best one for you.” I think because you're the one that's also opening up the idea of, “Wow, there are actually other options out there, but here's why you should stick with us” and not in a, “Hey this is why these ones are bad,” way. They could be great also.
For example, a lot of you know I have a Podcasting course called Power-Up Podcasting. I was not the first to do that. Should have been the first but I wasn't the first. John Lee Dumas came out with one called Podcasters' Paradise. Cliff Ravenscraft has a solution too, Podcasting A to Z. They're great, they're fantastic and I love them and I talk about them and I actually recommend them if you like to learn from people like Cliff and learn from people like John. However, I came up with a course because so many people have been asking me for my style of teaching and to add my own super powers into that, so this course, Power-Up Podcasting, yes it can help you set up a podcast, but it will also include my own unique take on how you can market your show and get found and how you can better build a relationship with your audience and then lead into funnels and such. That's sort of my unique take. Plus, of course, when you offer things like office hours and access to a community that is your own, that's something that other people can't get. Yes, they might have communities also, but it's not going to be like yours. Yes, they might offer office hours and access to that instructor, but it's not access to you and because it's you, you have a better chance of serving your own audience there too.
That's my approach Adam, and hopefully that makes sense. It's a touchy subject for many, but I also think that you should consider competitors, not as competitors, but as inspiration and motivation, so even if they're competing with you and they're creating stuff that's better, hopefully that will help you get motivated to create stuff that's much different. I think it was Sally Hogshead who says, “Different is better than better.” Do that. Create things that are different, that makes it unique to you, where it might make a person say, “Oh well, it's obvious why I need to go with Adam, because he has these things that the other one's do not.” That way you could even collaborate and mention those other brands and other products and not have to worry about people jumping ship.
There you go Adam, thank you so much, I appreciate you and I want to wish you all the best, and I want to send you an AskPat teeshirt too for having your question featured here on the show. And for those of you listening, if you have a question that you’d like potentially featured on the show here as well, just head on over to AskPat.com and you can ask right there on that page.
Thanks so much, I appreciate you, and here is a quote from Napoleon Bonaparte, and that is: “There are two levers for moving men: interest and fear.” All right, take care and I’ll see you in the next episode of AskPat. Bye.