How to deal with Competition in Business

January 30, 2019by smitaa-nair0

One thing that unites all businesses is “competition” which has both an upside (makes you want to do better) and a downside (Makes you nervous, unsure, envious, and filled with fear)

Like everything else, your ability to deal with competition also stems from your belief systems and the values you hold. If you’re subconscious believes that “I am not good enough” or fears that the others will get all the work and “There is not enough for me” then that’s exactly what will be reflected in the results i.e. a successful vs an Unsuccessful business. What’s interesting to understand is that this “fear of scarcity” is in fact a part of our evolutionary process where we mimic our ancestors and in fact carry that fear in our DNA!

So what’s the right way to deal with competition (in business) and how can you programme your mind to handle it better?

No. 1 Believe in your own ability as well as the abundance in the Universe.

No. 2 Enhance your belief in your product

No. 3 Focus on creation not competition.

Follow these 3 things and I guarantee your business will grow and you will feel joyful rather
than fearful. Here’s how you can implement these in your daily life.

  1. Shift from a Scarcity mind-set to an abundant mind-set

    For most professionals and business owners there is a need to recondition the mind to know and believe that there is abundance in the Universe. Once you do the internal work and start believing that there is enough for everyone and we too will get our share of the pie, the fear of competition (scarcity) will diminish.

    What a lot of entrepreneurs are not aware of is that “You attract your business”

    This means that the client who matches your vibrations comes to you. The higher your financial thermostat, the more money you receive.

    A good example is when you see 10 chemist shops in the same locality. They all manage to get customers even though there is competition. Within that group there are some who will do consistently better than others and that’s because they raised their frequency rather than change their location. So remember “Those who are not meant to you will not come to you.” And start believing that “There is enough in the Universe for everyone”

  2. Introspect – Are you offering you’re very best?

    Instead of focusing on what others are doing (or not doing), focus on what you are doing in your business. Sounds simple right? But you will be surprised how many people waste precious time comparing themselves rather than improving themselves.

    Ask yourself Am I doing THE VERY BEST that I can right now at work?

    If you’ve answered “Yes” then great…..continue doing what you’re doing. But if it’s a “No” then start upgrading yourself, your skills, and your mind-set so you can start giving your 200%.

    The interesting thing is that when I begin my work with women entrepreneurs, usually the answer to this question is YES. We start to dig deeper by breaking down the day and what they are doing in their daily life. Post this introspection, majority of them realize “There is something missing.”

    Here’s an insight – The Universe does not like stagnancy, it’s always changing. So to keep up you need to constantly upgrade yourself, improve and innovate. I do this for my own work, and that allows me to stay unaffected by competition.

  3. Move from competition to creation

    Innovation is the most effective way to beat the competition. You have to offer something that has never been done before in your industry.

    Ask yourself “Can I do something that has never been done before?”

    Become a creator who can generate something unique that will solidify your brand and add value to the lives of people. Let’s take the example of french-fries. We all love them and find them hard to resist. The downside of course is that french-fries are fried in oil, are high in trans-fat and considered unhealthy. But we can’t stop having them! So someone comes up with the solution of making french-fries without using so much oil. The Air fryer! They found a problem that needed to be addressed and came up with a healthy solution catering to the health conscious foody.

    So don’t forget to be creative and INNOVATE. Find that one thing which can differentiate you from the crowd. If you can successfully do that, you’ve hit the ball right out of the park.

smitaa-nair

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As a 360° Success Coach and Breakthrough Expert, Smitaa helps Women Entrepreneurs and Senior Women executives to create the life and success they desire for their health, career, relationships and finances.

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