Key Takeaways
- Comparison drains the emotional energy that your craft needs to grow.
- Know your market, but do not obsess over a competitor’s sales, clients, or media wins.
- There is enough business for everyone, so focus on the value that you deliver.
- An attitude of gratitude protects your emotional energy and builds a foundation to win.
- Reaching out to competitors can turn rivals into mentors and open new opportunities.
We are hard on ourselves professionally. Competition is fierce in the business world. We compare ourselves to the competition every chance we get.
Stop. Stop the comparisons. They do nothing to your competition. Much like disliking a person that doesn’t even know you exist, the comparison only hurts yourself.
What Is Emotional Energy and Why Does It Matter
Emotional energy is the fuel that makes us great. It is the blood, sweat and tears that we experience when pursuing our deepest passions and dreams. The smile that comes when you get the sale or the tarnished ego that ensues when you don’t. It’s the yearning desire to want more and to keep pushing.
Emotional energy is the smile that comes when you get the sale. It is the tarnished ego that follows when you do not. It is the yearning desire to want more and to keep pushing.
Emotional energy can also drain and damage you if you do not focus on the necessity of positive emotional energy. Do not sabotage yourself and drain your emotional energy on what everyone else does better than you.
Your craft needs that emotional energy much more than your competition. Your craft needs your passion, your fire, and your creative genius to push forward. Your competition drains you of your competitive edge, and they do not lose sleep over it. You do.
How Much Should You Watch Your Competition
Know your market well and the others who compete in your space, but keep it there. Have a concrete knowledge, but do not worry about their quarterly sales, their new endorsements, or how big their holiday party was.
Don’t worry about the media slots they secure or the new clients they win. The reality is that there is enough business out there for everyone.
If you do not believe so, ask yourself one question. How will you solicit a larger consumer base?
Where Should You Spend Your Energy Instead
Pour your energy into the work itself. The customers you have not yet met are found there, in the quality of the craft, not in the shadow of who your rivals are becoming.
Focus on the value that you, your product, or your service brings to the industry. Spend time to listen to what your loyal customers and clients say, so that you can perfect what you do.
Focus on these areas:
- Innovative marketing strategies
- Converting leads into sales
- Customer satisfaction guarantees
- New business outreach
Guard your mindset first, because it protects the emotional energy every other effort depends on. Gratitude is not sentiment. It is the discipline that keeps you steady when circumstances are not, and the person who chooses to see possibility has already won the harder half of the fight.
Reflect on your strengths and the things you already excel at. Focus on those who value your work, and show your gratitude by consistently showing up for them.
Why Should You Reach Out to Your Competitors
Reaching out to competitors can turn rivals into mentors. In the professional speaking world, I reached out to everyone in my industry in the very beginning. I contacted everyone I could, from newcomers to the most established names in the industry.
It takes courage. Humbling, yes, but absolutely worth it. I introduced myself, congratulated each person on their success, and asked for just ten minutes of their time at their convenience.
A few even became mentors. Reach out to those who have already walked the path you are on. You will be surprised at how many extend a hand. Your competitors are curious about you, too.
Think about the alternative option. I could have spent the same, if not more, amount of energy on looking at everyone in my industry and assessing how I can beat them, surpass them or solicit their business. This strategy wouldn’t have allowed me the guidance and advice I received along the way. It also makes you a bigger target to take out. In business, you must strive to build bridges to success rather than barriers to opportunity.
The Bottom Line
It doesn’t matter what industry you occupy. Simply focus on what you do well, and do that more of the time. There is enough opportunity to be had by all. Focus on forming allies and perfecting your craft instead of constantly trying to overthrow your competition. Your craft needs your energy much more than your competition.
Originally Posted on Entrepreneur.com