Unfortunately, when it comes to business, competition and jealousy follows but if you want to succeed then it is suggested to hide the green-eyed monster hooked onto your back.
A company’s journey begins when a person is influenced by several things which could be; a person, an existing company or even a lightning bolt. Regardless of where the idea comes from, it becomes a passion.
So, if you feel threatened by those in your sector then it is totally natural, however it should remain internal. If you are struggling with mixed emotions, then here are tips on how to put an invisibility cloak on those feelings;
Acknowledge your competition
You may of thought that your business idea was the first out there, but chances are it’s not and you must be prepared for that. Instead of backing down due to existing businesses use the drive you have to make the concept better. Sometimes anger and jealousy make the perfect potion to succeed, and you never know, your business might make it further!
Take no offence
Again, although you may believe that the concept of your business was yours first, it’s unfortunately not likely, so your competitors will try just like yourself to out do you and your business but you should never take it personally. If you take it personally then you can end up focusing more on beating them rather than growing your own business, which may cause yours to fail in the long-run.
Although, you shouldn’t ignore the competition in your market you need to stay focused on your business rather than theirs. By consuming yourself with their business you can end up destroying your own business and possibly your health. All businesses face the same thing everyday but that shouldn’t mean you need to get involved. Of course keep an eye on what they are doing but don’t over indulge.
Save your energy
By wasting your time stalking out your competition, you can mentally and physically wear yourself down which again will cause your business to suffer as well as yourself. Competition is healthy but, becoming obsessed is not and that is when things will start to go sour. The most important thing for you and your business is growth and determination, you should be striving to turn your small business into a big brand!
If you are just starting-up and are clueless on where to go next and worried about slipping up, then worry not! We are here to help, with guidance on how to begin your journey.