Dave Liniger shares hard-won wisdom and practical strategies for using competition to boost your business. In this episode, he tells the little known story about a lawsuit that threatened to destroy RE/MAX in its early years. Because RE/MAX was a rapidly growing change agent in the real estate industry, they became a target for their competition. A competing real estate company attempted to sue the company over bogus claims, which the jury recognized. They overwhelmingly decided in favor of RE/MAX. But not before six months had passed in litigation, during which time the other company hoped to bankrupt RE/MAX with legal fees. Once Dave and RE/MAX won the trial, he used the experience of being targeted to his advantage. As Dave grew into an icon in his industry, he began using ethically sourced intelligence about his competition as an important foundation for growth. He recommends gathering information on your top competitors’ strengths and weaknesses and using it to build your company’s growth benchmark. Another great way to outperform your competitors is by harnessing the most important resource already available to you— your employees. Those who work in the field have a unique perspective on specific challenges and can offer specialized insights. Finally, the best approach to staying ahead of the competition is by taking small steps on a consistent basis towards your goals. This allows for adaptability and constant reflection throughout the evolution of your business. And remember— if you’re a target, that probably means you’re doing something right. Main Topics
Early resistance to innovative compensation models (01:40)
Constant litigation threatened to destroy the company (03:23)
Shifting the mindset towards competitors (06:45)
Learning from competitors (08:30)
Applying the Kaizen concept to business (11:20)
Utilizing employees for growth plans (13:10)
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