Money Goals: The Diabolics Of Competition
I have a cousin whose business was encountering huge challenges. He felt the Money wasn't there anymore, a lot of people are into the same business selling for even cheaper rates, and secondly, he found it difficult to buy raw materials because they're now so expensive it would be futile to make any reasonable profits without increasing the price.
The major problem he experienced was that that particular sector has experienced a surge in competition, for five years, inexperienced people have brought stiff competition.
One of the reasons why this was so is that, people find it difficult to discover what works and because of this everyone ends up in the same sector because the chances of success have been tested and trusted to be lucrative by those that are there.
Paying The Price For Quality
Nigeria is a country where most of the people don't care if they're buying quality or not, provided it's cheap. So it's easier for other producers of these same finished goods to flood the market with fewer quality products, making it difficult for people who are selling quality to maintain their price.
This is the diabolics of competition. We have people who are pioneers of a specific niche, overtime when these niches have been tested, you'll see others come into that industry and find ways to do more for a lesser price.
Now necessarily doing more doesn't mean doing better. There's nothing quality that's completely cheap.
The "First" Person Syndrome
Anything cheap would have a tricky way of making back that money, however, it's difficult to understand some of these diabolics to competition and marketing if you don't pay attention.
So reckless competition ruined the business of my cousin because he was making good money, he had his friends providing direct competition because they wanted to make the same money he was making. I wouldn't fault these guys, everyone is scared of the "first person" syndrome.
This syndrome means people do not want to go into unchartered waters especially if they're not sure if they'll fail or succeed, so what they do is copy the already proven concept of others, investing their money there and overpopulating the industry.
The Million-Dollar Concept
Another thing is that a lot of people are uncreative, they find it difficult to come up with that million-dollar concept that could change their lives and the major reason for this is that some others fail to tap into the things they can effortlessly offer with or without them even getting paid for it.
Simply because they don't know how to take advantage of these things and they're not willing to learn. This same cousin of mine is contemplating leaving the business and starting to shoot comic skits online.
While I do not have a problem with this, I feel that when we're driven by money or the futuristic prospects of achieving outrageous goals, it'll be difficult to muster continuity in the face of failure. Another thing is, that people tend to overestimate their abilities.
The Best Way To Beat Competition
In reality, standing out is what makes people good at what they do. But the truth is, it's difficult to beat competition if you cannot stand out. Standing out means being effortlessly innovative and creative, which many people aren't like I mentioned in the first place.
This comes from not understanding our strengths and weaknesses. One of the reasons why I think people should follow their passion, work on their abilities is easy. When you look at the world at the moment some people are effortlessly good at some things, so much that we begin to imagine why they haven't begun to monetize them.
In reality, when these people choose to do so and face obstacles it'll be easier for them to continue. This is why I think the internet and its impact in the lives of people would become even more dominant and profitable in years to come.
Interested in some more of my works?
Keying Into Sophistication & Exposure To Forestall Economic Revolution
Money: The Learning Curve & Translational Process
What Makes A Job Opportunity Lucrative?
Shopping Online & The Illusion Of Buying Cheap Things
The Humanistic Approach Towards Scarcity & Competition
Spending & Accumulating: The Low & High Point Of The Crypto Seasons.
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