This concept is very close to the idea of cloning. It is not the same as plagiarism. And here is what I am talking about. There are many businesses out there in your niche that have been doing what they’ve been doing for five, 10, or even 15 years. And on the internet, there’s no business secrets. You can go through someone’s blog posts for 10 years and see the evolution of their business. You can see the things they did that were strong. You can see the things that they abandoned. And when you see the things they abandoned, you have to ask yourself, is it because they got tired of it because they were just bored or did it not work? Well, that’s a great piece of competitive intelligence. Isn’t it? Because you’re just not going to do it at all. And right now I’m thinking about podcasting for a lot of niches, unless you’re in the top.
I don’t know five podcasts. Why bother it? The discoverability problem is huge. You could spend two or three years blabbing into a microphone and no one’s ever going to find you or hear you. So why do it right? If your competitor who is currently successful, uh, let’s say how to podcast and abandoned it. Well, then that should tell you right there don’t bother. You probably just saved yourself a year of effort. I’m not down on podcasting because that would be silly. I’m talking into a microphone right now. I love audio, but in some cases, unless you have a very strong proposition, podcasting might not work. And if you see a couple of your competitors did it and abandoned it. Uh, well, that’s a good sign. You shouldn’t do it. Same thing with YouTube, a lot of false starts on YouTube and really what you’re seeing there in terms of, let’s say your competition had a YouTube channel and let it slide.
It might be that they didn’t spend long enough doing it. What we’re attempting to do here by looking at our competitors’ history is find out what worked for them, what didn’t work and what they did wrong. Because what we’re really trying to do is let’s say somebody has been in business 10 years. Well, and they’ve achieved a certain level of success and sales and audience. Your goal is to figure out, is to figure out how to do it in half the time. Right? And you’ve got a free case study right in front of you. Again, I am not an advocate of cloning or plagiarism. I like to, you know, I’ve got that pride of creativity personally. Uh, so I don’t do it, but I will do what I’m talking about here. And that is investigating the people in my niche. What do they do currently?
What’s working. What did they use to do that they don’t do? And why? Okay. Again, YouTube is a good platform, but you got to have patience. You gotta really plan out a sort of a publishing calendar. Uh, and you’ve got to understand the norms of, uh, you know, screenshots and titles and all the particular things about YouTube. It’s really the point here. Isn’t about podcasting or YouTube or Instagram. The point here is do a deep dive on your top three to five competitors that you admire, that you like, that you want to be considered a peer or a member of that society. And look at what worked, look at what didn’t work, look at, what could have worked. And then the masterclass in the idea of re-engineering your competitor is figure out what products they’re not selling or what the market wants. Next. This is really the PhD in re-engineering the competition. So you’ve done the background research you’ve figured out what’s good. What’s bad. What needed some Polish? You may get some insights into price strategy. Maybe they charge too little. Maybe they charge too much. Maybe there isn’t a graduated pricing ladder. Okay. There’s a lot you can learn from your competitor without stealing. It’s just knowledge and it’s there. It’s free. Go get it.