Having started #100BusinessGirls in 2011, I sometimes question if it's still necessary. When our meetups first started it was new and exciting. There were only a few groups like ours and we were niche. Well now that niche is no more. And while that's a great thing, it can be daunting if you're someone that has a competitive mindset. It's natural. It's one of the main things that you're taught in Marketing and Business 101. But is having a competitive spirit really healthy?
Competition can be empowering, it can keep your ideas fresh and business interesting. It keeps you sharp, determined, maybe even driven. You can learn from where your competition has failed. Most of all, when others enter your market or niche, it provides validity to the problem you want to solve.
The Benefits + Dangers of Competition
2. Competition keeps you sharp, determined and driven.
3. You can learn from where your competition has failed.
4. When others enter the market, it provides validity to the problem you want to solve.
Focus on Your Own Race
5. Your ego is your biggest competitor. It will keep you from accomplishing your goals and keep you in a state of comfort. Comfort is your default setting that you need to break out of and continuously add things to make you grow stronger. You must master the ability to quiet your ego. So for every negative thought, combat it with two positive thoughts. With practice this will become a habit.
6. In our daily interactions with social media, we can get bombarded by individuals sharing their pictures and good news. Don’t look at individuals as your competition. Don’t believe the hype of the pictures being painted for likes. This will create the spirit of envy because maybe your life doesn’t look like their pictures, and neither does theirs. There are social media strategies and systems that are put into place to earn followers and likes strictly for the purpose of building social media clout. What you want is longevity. Longevity will sustain your business past the latest social media trends.
7. Hating your “competition” only has a negative impact on your well-being. Your goal should always be to focus on the people you serve (audience, customers) because those are the people who believe in what you have to offer.
8. Operate from a perspective of ‘Plenty’. There is enough to go around for everyone.
9. Instead of seeing "competitors" see them as potential partners and allies. No one will understand your journey more than someone taking a journey similar to yours.
10. When you’re brainstorming new ideas, stay off social media. Social media cleanses can be a great way to set new goals and execute those ideas. They can vary from 24 hours to how ever much time you need.
Ask yourself these questions:
- Do you think competition is healthy in business?
- Have you ever doubted yourself based on what others were able to accomplish?
- What are some ways having competition has helped you succeed? Or has it ever?
Written by: Jamillah Y. Johnson