competition in business | Words For Hire

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I was on the final leg of my third workout of the morning. It was a perfect summer morning and as I pulled up to a red light on my bike I exhaled into a smile. Another rider pulled up beside me. He was over 6 feet tall, muscular and clearly a far more experienced rider than me. We chatted about the day and the beautiful weather until the light changed. As we said our ‘’good days’ in one fluid motion he was nearly a block ahead of me. Without even thinking, I gave chase. I ignored my already weary legs, dug down and began pedaling faster than I ever had (I only took up riding again two months ago). The world around me became a blur as I focused on one thing – catching my opponent.

I did catch up two lights later. This time I came to my senses and my destination and did not give chase when the light changed. I admit, I have a bit of a competitive streak (it’s why I hate the gym, I always want to be the last one standing on the treadmill) but it’s mostly harmless. As I replayed the ride, I realized that trying to keep pace with a more experienced, faster rider had allowed me to push through to a new level. In my quest to keep up with a stronger opponent I had forgotten “my place” and simply rode like the wind.

In the days following my wild ride, I rode faster and harder, because I knew I could. My confidence soared right along with the numbers on my heart rate monitor. I had a new base thanks to my competitor.

People that are better than you are, whether it’s in sports or business, are an essential part of your own growth. If we surround ourselves with people on or below our level we may never know our own capabilities. Challenge yourself to explore your own limits by competing with someone you know is faster, stronger and smarter than you. You may not beat them but you are guaranteed to up your own game.

In business and life, there is never a lack of opponents. While I am not suggesting that we constantly pursue world domination, it is healthy to challenge yourself to compete at a higher level. It is easy to become complacent with our success, especially if we are the top dog in the puppy store. But, it is so satisfying when we push a little harder and discover that we are capable of even more.

Who is stronger, better, faster than you in your industry or job? How can you compete with them in a way that makes you better?

Most businesses spend a fair amount of time assessing their competition. Annual marketing plans include in depth analyses of competitive strengths and weaknesses, and detailed tactics to leverage opportunity and minimze risk against competitors. Even solo and small practices devote resources to competitive intelligence. Yet, in two decades of business experience, I have never heard a single consumer proclaim:

Help! Every company is excellent, operating at the highest standards, possessing all the knowledge that is possible in this area, doing the right thing and perfectly suited to all of my needs and desires.

So, why I wonder do we spend so much time on the competition and so little on the people who need our services?

I’m not suggesting that competititve intelligence does not have its place. We can learn from our competitors, adopt best practices and gain insight that helps us to improve our business. However, we should not seek to be our competition, or even covet their customers. If we focus on uncovering and leveraging our own distinctions to delight our ideal market, we will create our own niche.

Competition does not destroy your business. Yes, there are many historical examples that would seem to validate that I am wrong. However, I must ask, was it really the competition or were there other factors at play, such as failing to correctly identify and position a clear market value, inaccurate targeting, lack of innovation?

If you are contemplating a new venture or direction and worried that there’s too much competition, I would advise you’re focused on the wrong thing. Competition is awesome! There’s awareness and a stated need from the market, hooray! Some of your “competitors” have leaped in to take advantage of market opportunity, others are highly skilled but will fail miserably at staking their claim, a small percentage will be highly successful and expert in the space. But none of them are you. This is your secret weapon, what Sonia and Brian call The X Factor.

A solid, well thought out plan + The X Factor = World Domination (okay not really but your own little piece of it)

Take your eyes off the competition and put them on you and your customers, it is a decision you will not regret.

Are there any businesses that you support because of their “X” factor? Or are you a business that markets their X factor. I’d love to hear your experiences.

If you are a freelancer copywriter and need help discovering your “X” Factor click here to view more details on the Freelance X Factor Course (This is an affiliate link, if you prefer to purchase from a non-affiliate link, hop over to Copyblogger.com and you can still buy the course, no hard feelings!)

If you are a business leader struggling to find your distinction, send me an email at karenswim at gmail dot com.

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