Embracing Competition: The Key to Success in the Woodworking Industry

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“There's more than enough opportunities for everybody to eat,and so, again, go back to point number one is it forces you to level up, it forces it be better. And number two is like, it just makes the market bigger. “



-Steve Larosiliere





Welcome to a brand-new episode of the Woodpreneur Podcast. In this episode i’m going to discuss why competition is good for your wood, lumber, sawmill, and furniture business. In a world where many entrepreneurs fear competition, Steve sheds light on why it's not a bad thing at all. Let's explore the five compelling reasons why competition is a driving force for success in the woodworking industry.



Steve Larosiliere's insights provide a roadmap for your woodworking business's growth and prosperity. By following these steps, you'll be on your way to attracting and serving the right clientele, ensuring the long-term success of your business.



It's time to hear the complete story now!



“literally the people that provide the best service, I'm talking about, like white, grave, educating, empowering and motivating, inspiring brand for your customers that like, you're gonna win, and you're going to knockout competition, you know, and so like, it's truly about creating an experience that people want to tell other people about, like, Oh, my God, you know, I started working with this sawmill or I started working with this woodworker”

-Steve Larosiliere





Competition Forces You to Level Up:

When you're the only player in your field, it's easy to become complacent. However, in a thriving marketplace with numerous competitors, you're constantly motivated to provide the very best products and services. Competition compels you to innovate, avoid laziness, and think bigger. In a post-pandemic world where everyone seems to be starting businesses, it's a challenge to stand out. But remember, this challenge is also an opportunity to raise your game.



It Expands the Market:

Competition doesn't just mean fighting for the same piece of the pie. In fact, it makes the pie bigger. When competitors advertise their services, they are essentially increasing market awareness. This results in more customers seeking out woodworking businesses. Having multiple options to choose from only encourages potential clients to explore the market further, which, in turn, benefits all businesses involved. Instead of viewing competitors as threats, see them as contributors to the growth of the woodworking industry.



Focus on Key Metrics:

One common pitfall in the woodworking business is getting lost in the details, such as tools and jobs. However, the real key to success lies in three metrics: leads, quotes, and sales. Competition reminds you to concentrate on these critical factors. If you're not actively tracking these metrics, you're playing the wrong game. Success in the woodworking industry comes from being results-oriented, not just busy.





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LinkedIn: https://www.linkedin.com/in/stevelarosiliere/

Acres of Timber Website: https://www.acresoftimber.com/

Stoked Website: https://www.stoked.org/

YouTube: https://www.youtube.com/c/SteveLarosiliere

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Woodpreneurlife Website: https://www.woodpreneurlife.com/