3. Claiming that you have no competition
Every business has competition. There may be no companies offering the same product or service as you in your local area, but all that means is that you have no direct competitors. You still have to contend with indirect competition. Let’s take cinemas as an example; a cinema’s direct competition comes from other cinemas, and from movie streaming and rental services. Their indirect competitors are other things that eat up people’s leisure time – such as video games, TV shows, and even pubs and gyms. Customers have a limited amount of time and money, and you need to persuade them to spend it with you.
Image credit: CC by Peer Lawther