[00:00:30] Enough about my competitors to know what they’re up to, know what they’re doing, the types of clients that they work with, what their price points are, but not enough where it’s an obsession or an addiction, or it becomes a distraction with what we do within our company.
[00:01:00] If you get too involved with what your competitor’s doing, I’ve seen some of our image consultants get a little too carried away, or a little too reactive, or too concerned about what they’re doing instead of really cultivating a really cool genuine brand that they can own in terms of what they’re really good at. It’s super important to keep track of your competitors for collaborative reasons, however.
[00:01:30] I find that being collaborative and knowing what my competitors are up to make for a really, really, really good resource partner so that when we have clients that might not be a good fit, we have people in our wheelhouse that we do trust and that would be a better fit for that client. I think it’s super important to not only know what they’re doing but actually make friends and be collaborative with those people so that you all-around are just giving your client the best experience possible.
[00:02:00] How much do I know about my competitors? First of all, I do know exactly who my competitors are because not every fashion stylist, not every personal stylist, not every image consultant is actually my competitor. I only think that those are my real competitors who offer the same services and the same quality to the same people I do offer them. How much do I know about them? Basically, everything. I know what they offer. I know the rates they offer it. I know how they offer it. I know for how much they offer it. How do I find out? I go far beyond Google and use one technique that most people don’t know and totally underestimate, which is I ask their clients.
[00:02:30] I ask former clients of my competitors. It’s the source where I find out most information about them.