Competition for our business is everywhere, or at least it seems like that some days. From new start-ups who look identical to us, through to established businesses that begin offering products so similar to ours, they could be copies. We obsess about them and wonder what they’ll do next. But let me tell you a secret, the key is not to fixate on the competition, but focus ourselves, focus on our success! Here’s how.
– Passion and purpose
Think back to your passion and purpose, remember what you pinpointed your passion to be and what it is you want to achieve. Thinking about every little move your competitor makes draws you further and further away from why you started your business. So grab on to the passion that motivated you to start your business and make your purpose clear in your mind – your best customers will love this about your business!
– Have belief and a plan
Short and simple, you have to believe in your business and have a plan to success. Believing in your business shows in everything you do, it shows in the way you talk to customers, what you say, and so much more. It’s contagious and everyone who comes in contact with your business will believe in it too. On the plan side, map out how you are going to reach success. Don’t be swayed by what your competitors are doing, know your steps to success.
– Be proactive not reactive
Yes, it sounds easy to be proactive and not reactive, and being blindingly obsessed with competition can make it hard to fathom. But when you’re reactive, you’re constantly playing catch-up, second guessing and taking a big detour on your road to success. On the flip side, when proactive you’re continuing to improve customer service, develop products and find ways to be more efficient. You’ve done it before, that’s what got you to where you are now – you can do this!
– Be a leader not a follower
You know that followers are always on the back-foot trying to catch up, and this is likely where your competitors are, but it is NOT where you want to be. Leading your business and potentially your industry can be done by continuing to find different ways to meet your customers’ needs, better ways to promote your products, and other ways to use your products, just to name a few. So stop the sleepless nights, the worry, the frazzled nerves obsessing about what your competitors are doing, and try following these options to get back on to your track for success. Of course, if you want a little help to pinpoint your passion, map out a plan, brainstorm your proactivity or spark your leadership, feel free to contact me.
Sally-Anne Blanshard is the founder and Director of Nourish Coaching and helps people reinvent their careers, businesses and life through structured coaching programs. She has been featured on TV, Radio and is often quoted in newspapers and magazines.