Justin Meadows discusses how to protect your business from losing market share to new and existing competition online. He also reveals a very powerful tool for protecting your data and a few other things…
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0.05 Insulating Against Potential Threats
0.50 Build a List of Threats
1.19 Protect Against Them Now
1.51 Insulate Your Online Market
2:20 Make It Hard for New Rivals
2:51 Publish Valuable Content
3:28 Backup Your Data
4:38 Dropbox Backs Up Your Data
Full Transcript:
Hi, this is Justin Meadows with another website news update. Today we’re going to talk about insulating against potential threats in your business, specifically new competitors entering your marketplace and also a nifty backup solution that could be great for your business.
Brainstorm and Know the Potential Threats
First, insulating against potential threats. It really is worth sitting down and brainstorming either with your staff or by yourself or with a consultant or someone else outside of your business all the different potential threats that may compromise your business and then looking at ways you can insulate your business against these threats and things that you want to be looking at is things like your supply, what happens if you lose your supply that you currently have or do you have multiple different supplies, is that going to be a problem, how many customers do you have.
Prepare a Plan B
Do you have a large base of customers or if you lose one customer, is that going to make a huge impact on your business? Other things like your staff and your computers or your product or your service, what if someone else brings in a service exactly the same, but a little bit cheaper. Can anyone do that? What if someone poaches your staff? What if a competitor moves in right next door to you? All these sort of things are the things that you want to start thinking about and insulating your business against,
Use Your Website to Protect Your Business Against New Competitors
One of the things that I wanted to talk about in particular is how you can use your website to insulate against new competitors entering your market and taking that market share that you already have. One great way that you can establish and maintain market dominance with your online market, in particular, is by using your website to publish regular content and build up your authority and relationship with your customers and also build up a strong ranking in your search engines. What that means is you don’t want to just be on the front page. What you want is to have such a strong online presence that if anyone looking to come in to your market has a look at your presence online, there is a massive barrier to entry for them to knock you off the top of Google perhaps or steal those followers from you that are following your blog or they are friends with you on Facebook.
You want to really be engaging with your customers so much that they wouldn’t even consider looking at any other competition or you want to build yourself such a strong brand with Google that it’s going to take a lot of effort and a long time for any other new competitors or existing competitors to rise above you in the search engines and the best way to achieve this is by publishing regular quality content that engages with your users, engages with your customers and provides them with valuable information and tips and gives them the sort of things they need to get the most out of your service or maybe just help them out with their problems that may be related to your business, but not specifically what your business provides.
Insulate Against Data Loss As Well
The other thing you want to insulate against is data loss. The data that you have in your business computer really is crucial and very important and it’s important that you back this up and it’s also a great idea to have several different ways that you back it up because one backup may fail or for some reason it might not have been backed up. Have a couple of different systems in place. You might want to talk to your local IT guy or your computer guy, whoever set up your computer systems about different solutions that you can be using. It’s a great idea to have a backup that is not on your premises in case of something like a fire or something like that. You want to make sure that you’re insulated against that sort of threat as well.
Use DropBox To Share Files Across Many Computers
One great solution is a software called DropBox and essentially what this is, the files that are on your computer get automatically synchronized with another computer and this is not just great for backups, if you’re using several computers in your business and you have a lot of staff that are using the same files or need to access similar files or you might need to access these files off premises or on different computers. By putting them all into DropBox, it automatically synchronizes the files across all the computers that are using it.
This Also Acts As A Fantastic Backup
It’s also a great way to send files to other people and to share files and it’s a great backup solution because everything that’s on your computer in the Drop Box folder is automatically synchronized and backed up into cloud service and also onto the other computers that you have. If one computer dies you don’t lose all that valuable data. You can simply get a new computer, install Drop Box and let it synchronize and all those files will come back.
If you want to find out more or have any questions about this, just chuck a comment below and I’ll be happy to help you out with some few ideas and solutions on how you can be insulating and backup solutions for your business as well.
I’m Justin Meadows. This is Evergreen Profit. I’ll talk to you soon.
