A common question that I get asked as a business coach by business owners is “Who do you think is my biggest competitor?”
Many business owners are very focused on their competition. “How much are they charging?” “What are the new services or products that they are going to roll out?” “What do they say about us?” “How well do we compete in the market compared with them?”
Frankly, searching for answers to those questions really has minimal value. The reality is that your biggest competition is not the other guy or gal, but YOU! The single largest limiting factor to your success is not outside, but inside. Instead of focusing on what others are doing, the most leveraged way to improve your business and realize success is to look in the mirror.
The reason for that principle is obvious. You can’t change the competition, but you can change yourself. If your competitors distract you from working on your business, they have won. Your number one job is to be the best person you can be, and to create the best business possible. If you focus on that agenda, what your competition is doing is not too important.
Here are some alternative questions you can consider: “How am I maximizing the value of my products and services, so that I attract the best customers that will pay for value (vs. merely buying on lowest price)?” “How can I lead and train my team to consistently exceed customer expectations? What is it that my best customers want and need? Am I really listening to them? How do I express gratitude to my team, my vendors, and my customers? Where can I seek to build win/ win relationships with strategic partners, maybe even with some “perceived” competitors? What areas do we need to improve? What do I need to be learning and doing to be the best leader and business owner possible?
When you start to focus on changing you and your team, then you will not have to give much thought to your competition. That is what I do as a coach; help my clients take an honest look at themselves and change! Be the best you can be!
If you would like to learn more about maximizing the performance of your business callOhio Business Coach Ralph Berge, 440-838-0991, Business Coach of Akron Canton.
