How to deal with competition in your business
Competition does not exist!
I know this may seem a strange statement to make, especially if you have been in business as long as I have. I was taught from the very beginning of my studies in business that you must know your competition, do your SWOT analysis (looking at your strengths, weaknesses, opportunities, and threats) this involved looking at those like you in the market, so comparing the market was very much a huge part of your market research and you would carry this out at the beginning of your journey.
When you look at any business from this perspective it is always wise to be aware of who is around you and what others are doing. However, what is key to remember throughout this process, is that it doesn’t matter what others are doing, they are not you.
Let's have an example: Two hair salons on the same street and each one can be as busy as the other because what they both offer in terms of experience, quality and price will be different.
THEY ARE NOT YOU! There are not your competition!
How many coffee shops do you see in any given town or city? Quite a few! You will notice they are pretty much all busy with a queue of people literally out of the door trying to order coffee. The reason for this is they will all attract customers that are aligned to them down to yes the taste of their coffee but also their energy, their customer service, and the experience their offer.
In fact, if you take this one step further the reason why I have mentioned the amount of coffee they sell is that they will each be demonstrating their love and passion for what they want to offer.
This is the golden nugget right there, when we work from the love and fulfillment we desire for ourselves and others, you will have a far healthier balance sheet and be selling with flow all day long.
Energy of your business is infectious!
If you are worrying about what others are doing or scared you’re going to miss out by seeing, hearing who x y z have now started, you’re wasting a lot of time and energy. Keep your focus on your passion and how your business can make a positive impact.
The most obvious distraction that most business owners have that will distract them from this kind of thinking is when you are tied into the habit of social media and scrolling away and comparing yourself to others on your news feed (as we all know this is not great for your wellbeing or mindset). So if you find any of this is relatable for you right now I want you to start by doing this:
Pause for a moment
You’re possibly falling into the following areas:
1. Focussing on the wrong things which are YOUR energy on someone else’s business and not your own.
2. You’re in lack with no clear goals/ strategy.
3. You’re leading from your Head, not your Heart which means you’re telling yourself and everyone you are limited.
Do you know how many business mentors are out there?
Do I care- not really!
Believe me, there is no one like me and no one does what I do the way I do it! FACT!
There is also no one like you! FACT!
I share this with my clients every day - focus on YOU and not anyone else.
Look at how far you have come and where you heading that’s where we want your energy to flow.
Stay in your own lane and attract those that are meant to work with you.
The more I have done this personally and the more I teach my clients to do the same our goals/intentions have been smashed!
We worry too much about competition and “what ifs” as my mentor once reminded me and was the simplest reminder one day I’ll share with you - have you any proof it’s all going to go the way you’re thinking?
Today focus on the now and what you are trying to achieve and if you ever want to chat please message me - I LOVE to hear what is being built by others and why they are doing it.