A decade ago, a kid from the State University of NY at Geneseo got into an altercation with another guy who (he presumed) was trying to steal his girl. In one fell swoop, he landed one punch straight to the guy’s chest – and killed him instantly! Imagine his surprise when he realized his knuckles hit with such force they actually stopped the guy’s heart. It’s safe to say, this lovelorn student didn’t mean to kill the competition. The judge ruled in his favor and he returned to school after a little bit of fines, jail time and community service. Yet, he will always live with knowing he committed such a horrible deed. Perhaps he wonders what life might have been like if they had just tussled a little.
In your business, there can be an equally fine line between hurting the competition with your superior marketing techniques and outright killing them. Here’s the central problem to being the only show in town:
When you see what others are doing and you see their success, you push yourself to do better. You take what they’ve done, put your own twist on it and release the idea as your own – new and improved. So what happens when you have no one to keep an eye on? Now the onus is on you to come up with all original concepts. Now your motivation to succeed is diminished.
So how can you just maim the competition, not kill them, you ask? Screw your head on straight and make sure you’re innovating and creating for the right reasons. Don’t just create to squelch out the competition and “do it better” than the next guy. Concentrate on your core strengths – customer service, unique packages, core workouts and manifesting your God-given talents and gifts for the benefit of others. Push yourself to achieve better than what you’ve achieved in the past, with less emphasis on what your competitors are doing.
What is your business strategy? Is it about copying the competition, only better? Or are you using the competition as just one component of a larger strategy? You should be digging deep to find keen new marketing techniques and tactics by constantly reading books, attending seminars and workshops, and networking. I mentioned in the last post the importance of reconnaissance and keeping an eye on the competition. That still holds true, but it should not be your sole focus.
Wow Sam this really resonated with me. The other day I was talking to a trainer and he was asking me how he can destroy his competition…
I have always been of the mindset that 2 minds striving for greatness are better than one. Why not leverage your success together.
Personally I have a competitor, now friend, that opened a boot camp 1.5 miles away from me. Do you think I got angry? Not at all. We work together and refer business to each other.
Offer your USP and become a category of 1.
Thanks again Sam, you rock!
Cheers,
Armando
Nice Sam! nobody has ever touched on that and that’s an excellent point. I agree with you 100%. It definitely is more motivating when there’s competition out there. Keep the posts coming :)
A lot of great insights Sam. Things most people don’t think about but really important to think what you’re really striving for. Are you striving for a better you, business and success or are you focusing too much on “crushing” the competition, and in the process forgetting your core values and goals.
Luka
@Armando: Love that “offer your USP and become a category of 1”
@Sako: Thanks for reading and commenting.
@ Luka: Absolutely right in anything in life. When I was a competitive bodybuilder all I cared about was to be better than I was the last time. The rest I can’t control.
Great post Sam. Competition is not necessarily bad if your business is properly differentiated and you’re handling your business. On top of that, weaker competitors can expose and educate your customers about a service, and then allow you to pick off the cream of the crop.
Focus on YOU, if you focus on every1 else it f**ks w/your creativity, been there, done that and NO more….
The best things I’ve done to improve is what Sammy says: differentiation, always better urself, kick ass customer service and building a TEAM!!
Great post Sam, competition is what keeps us going and as long as we keep delivering a great message and a great product, we’ll stand out. Keep the info coming, you rock!
Sam,
Great post. I like to get a friend to secret shop my facility and then also go around and check out the competition. I want to know what to know how they are selling their services, how they are following up and how our studio can do it BETTER. I also want to know how our staff is doing it when the owners aren’t around.
This critical info allows us to learn how to be better and push ourselves further.