Stopping one from comparing themselves to other competitors is not as easy as it sounds. We as a society are obsessed with what other people are doing. Just look at all reality shows and social media! People religiously watch these shows to see what and how other people are doing it. Comparing, or copying what your competitors are doing is not good for you nor your business. This is after all your business, your vision. Whether you are starting something unique or simply putting a twist on something that has been around for a while, it is still yours.
You might be thinking “But they are doing “this” and it’s working for them”. That might be true but it doesn’t mean it is going to work for you. You need to concentrate on your plan and vision for your business and not compare yourself to other competitors. Stop being hard on yourself and follow these simple guidelines every time you feel you have made a wrong turn.
Comparing yourself to competitors can serve as a distraction and cloud your vision
When you started your business you did it with a particular idea and a clear vision of how you wanted things to run. The same goes for your competitors. Even if you are in the same line of business, your idea on how to manage your business will most likely be different.
So, when you start comparing yourself to other competitors and how they are doing, you might start to doubt your vision. This can consequently lead to changing your business goals and philosophies, and you may find yourself stuck at a dead-end. Stay true to your dreams and goals and you will be a lot happier knowing that your success and achievement are solely of your own making.
You Will Miss Out on Other Opportunities
When you start comparing your business to that of your competitors, you can end up just copying what they are doing. When this happens, you can end up behind in the game because they already have a head start, and it will make you miss out on what is actually working for you.
Of course, it is always good to keep an eye on your competition, just don’t fall into the trap of concentrating on them. Look at what is working, and not working, for your business. Watch the market for trends and new ideas, These can come from businesses that are completely unrelated to yours. By all means, look at resource but they don’t have to be about your industry. We have a variety of blogs on our pages to help you build your audience. On example is Blogging for Business – is it effective and how to make it work for you.
Success is a Process and Everyone’s Process is Different
Success isn’t about how much money you make; it’s about the difference you make in people’s lives.”
Michelle Obama
What is success in business? It is getting super-rich or being able to provide enough for your and your family’s needs? Is it providing an incredible service to society or a special niche that only a few enjoy? You are probably familiar with all aspects of business and business practices before you started yours. And maybe things didn’t turn out as planned, but you are still standing tall.
When this happens, remember why you started your business in the first place. What was your mission? Has it changed through the years? Or you let it change by copying your competitors and completely forgetting what your goal was? Again, if things are not going as planned, stop, and take a moment. Remember that although success for some may happen overnight, some have to work hard. Everyone has their own story and if you stay true to yourself, your story will be successful too.
“Success is not final; failure is not fatal: It is the courage to continue that counts” Winston S. Churchill
Don’t Believe Everything You See on Social Media
There are many tools and resources available to new and established businesses, and social media is of course a good one. With everything online nowadays you can really see what is going on. But don’t believe everything you read online.
There is a lot of misinformation out there as well, so make sure you do your own research. Don’t just read one story about why your competitors are doing so great and invest in it. Remember that a lot of those amazing reviews are paid for.
Take Your Time to Travel Along Your Own Business Path, Not Someone Else’s
Like we mentioned before, what works for someone else may not work for you. We mean both on a financial and philosophical level. We know that almost everyone wants to succeed as quickly as possible, but some things take time. Rushing things along too quickly can also hurt your business.
Yes, of course, you may have to change a few ideas and decide which methods to use and that is okay. Being in a business is a constant learning curve, even if you have been in the game for a while. So don’t compare what and how you are running your business to your competitors. While they are in the same field as you, their ups and downs will be different than yours.
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