Too often I hear business leaders bemoan their competition. Their competition is the reason they are losing market share. Their competition is the reason they cannot attract customers. Their competition is this or that and on and on it goes
I am here to tell you that your competition should not be the focus of your efforts.
Now I know that sounds simple. Easy to do but with the outbreak of social media, many times you cannot escape if they have a persistent social strategy.
I hear you saying, “Well I can just delete them!” but I am sure your mind will then switch to, “I wonder what they are doing? Are they talking bad about me?” which is worse.
One of my mentors who owned a restaurant in NYC, a very competitive market, saying, “There is enough room for everyone. If I focus too much on them, I am not paying attention to my company. Do what you do to the best of your ability and there will be a customer base for you.
Here are a few tips that I have used and shared to help keep you focused on your mission and not your competition.
- Be happy for them. Harboring ill will towards their projects will create bitterness in your work. You begin to work harder on your project because of anger to defeat the competition. This approach will influence your projects in a negative way.
- Acknowledge their new opportunities and ventures. See them for what they are and then go back to your own work. Not every project that your competition is working on is right for you or your company.
- Review your plan. Review why you started this project or your company. Focus on the value it will bring to your customers.
- Focus on what you can control. You cannot control their actions but you can control your effort and execution.
Ask yourself why are you really angry? Is it because they have an opportunity that you don’t? Did you even try to have the same opportunity? Could it be that they were not focused on you so that allowed them to work harder towards achieving their goal? Maybe the opportunity presented itself because of reasons you are not aware of which they could say about some of your opportunities.
As you can see this circular train of thought does nothing to help you move forward.
If you really want an opportunity you need to develop a plan and go present your company, product or yourself to that audience. You cannot complain that your competition achieved something and you should have been considered, but you did nothing to earn that business.
Focusing too much on competition takes your eyes off your progress. By keeping away from the jealousy and negativity, and refocusing on the positive reason why you began your project or company will help you achieve your goals.