One of the questions I get often is, “How do I deal with competition.” Most people want to know how they can prevent competition or what steps they can take to overcome competition successfully.

These days, on the Internet, there are two sides of a coin.

It is so easy for a person to get into a market because it is simple to start a business in just about any niche.

There are low barriers to entry to most businesses, so competition is rampant. You may realize an opportunity and start making good money.

The chances are high someone else will see your success and try to mimic it.

So how do you deal with this? How do you protect yourself from copycats?

It’s easy to have competitors.

In fact the more money you make the more competitors you will have.

You have to think faster than people can copy you, and you must develop what I call hidden advantages to dominate your niche.

Copycat “syndrome” as I like to call it is common.

You may be in a good niche, and some guy sees you are making good money, so he decides to copy your ideas. He comes up with a new product to compete with you.

People want to prevent this, but you can’t prevent competitors.

You will always have competitors regardless of what you do. The more money you make the more competitors you’ll have. It’s just the way things work.

You can however, overcome any threats associated with competition. How?

Innovate faster than they others can copy your material. Develop hidden advantages.

That’s the key to overcoming competition.

If you want to dominate your niche, you must have some hidden advantages that are hard to copy. Your competitors should not even know you have these advantages.

They may copy what you are doing, but they won’t be able to copy your hidden advantages.

Many competitors will then fail because they are confused about what you are doing. Why? They won’t understand the reasons behind what you are doing. They won’t realize you have hidden advantages.

How can you make hidden advantages work for you? Let me give you some examples.

Let’s take the internet guru business. I have many competitors, many new people coming in trying to be marketing gurus.

My secret? I’m not an internet guru. My specialty is website conversion. I teach people how to convert more visitors into paying customers. I niche. I don’t claim to be the number one “internet marketing” guru. But I am the world’s number one website conversion expert. That is a hidden expertise, a hidden advantage.

I was there first, found this niche first, so that gives me an advantage. When people come into my niche, when they want to compete, they are only reminding people of my success and experience.

People see my name everywhere that is a hidden advantage.

High name investors and entrepreneurs also endorse me. That is a hidden advantage. I have testimonials from high people in high places. Best-selling authors and multi-millionaires. That is a difficult hidden advantage to duplicate.

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