Seriously…. stop worrying about the competition.
Yes, it’s great to know what competitors are doing. Yes, it’s great to learn if they’ve figured out something your company hasn’t. But having too much information on these competitors may actually do more harm than good. Businesses continue to believe that competitors are the main reason they’re not achieving the expected level of success. Although this could be true for very few industries. If you’re in the beginning stages of launching your business, then you should avoid comparing your business to those who are already established. Shift your focus from the competitors to the customers.
What’s most important are the customers AND the marketplace. Changes in society, or business in general, sometimes contain more clues about opportunities than do customers. That’s how you keep current customers and attract new ones. If forced to prioritize, first the market, then customers, and finally competitors. Business is not simple, and neither is uncovering what’s true today and emerging.
“I’m too busy working on my own grass to notice if yours is greener.” – Anonymous
Spend your energy on your company – nothing else. The more time you spend analyzing the competition is a minute you’re not focused on your own company’s growth. If you want to build a successful startup business or maintain your current business, don’t waste another minute thinking about the competition. Rather than comparing your business to another, celebrate that you had the courage to get started.