It’s all too easy to get intimidated, especially when your industry seems over saturated. It’s even discouraging at times, as we’re constantly trying to find new ways to stand out and creating something bigger and better than everyone else. But don’t let it get you down! Learning more about your competition and embracing the competitive nature can get you a few steps ahead if you do it right. Here are a few key insights to help turn your competition into your inspiration.
- Everyone is different. Think about it; Facebook wouldn’t be Facebook without Mark Zuckerberg would it? And Vogue wouldn’t be Vogue without Anna Wintour. While brands can take each others concepts and even their products, they’ll never have you, and your specific insight and talent. You will have a unique vision and mission that no one else will. And if you make that clear, your customers will come naturally.
- Make your vision clear. While people can steal your products and concepts, their reason behind it isn’t always the same. So show your authenticity; focus heavily on your branding, and the consumers you’re trying to connect with. To put it simply, copying someone else and not having a genuine reason behind it looks sketchy, and might have your audience questioning your motives. How can you take the same concept, but put your own unique twist on it in a way that your audience understands?
- Focus on yourself. It’s easy to get caught up in the competition. But constantly worrying about what someone else is up to will get you nowhere. It’s distracting, overwhelming and quite frankly; disheartening at times. So ask yourself some questions. What if your only competition was your own company? And how about instead of putting your competitor down, you were their cheerleader? Success is measured by trying to outperform yourself from yesterday. Trying to find ways to constantly improve and think outside the box will only bring you success.
- Uncover their flaws. Like all humans, not every company is perfect. So while you shouldn’t spend too much time focusing on it, do some analyzing on various aspects of their business; whether it’s a blog post or a television commercial. If that had been you, what would you have done differently? When looking at our competition, it’s a lot easier to acknowledge what they’re doing right, and not what they’re doing wrong. It’s all about perspective.
- Befriend them. In almost every industry, there’s a stigma that competition = enemies. Yes you’re trying to compete, but why can’t it be in good faith? Businesses do well by connecting with other businesses, and there’s so much you can learn from each other. You’d be surprised at how many companies are actually willing to help out one another. So be friendly! Put yourself out there and take some risks. What do you have to lose?
How have you turned your competition into inspiration? Share your tips and tricks with us!