Stop Comparing Yourself With Others & Start Competing With Yourself
I am perplexed continuously after 16 years of running my own business, how often companies and individual make their sole focus of competition another company in anticipation of a zero sum game. Business has some very zero sum components but it is not a zero sum game. Competition is critical for business success and their are times when you must point out what your product or service does verses another product or service, but it should never be your focus.
Your focus should be on competing with yourself and figuring out ways that you and your company can defeat the best that you gave the day before, the week before, the month before or the year before. By focusing on your capabilities and limitations, you can adapt and refocus your business goals to compete to improve yourself and your company. Declaring a competition internally so everyone can improve is the very best way to create longevity and ride the highs and the lows of business.
Here are five things I do to make sure i focus on competing with myself and creating continuous improvement.
- I make a daily evaluation of my sales, outreach and marketing. Without sales there is no business and I measure it daily to make sure I see where we are doing well and where we are lacking. I uses tools like MailChimp to track my metrics on email marketing, I use products like Skipio to track and measure my text marketing and Facebook Ads metrics to track my facebook ads measurement and conversion. These tools are huge to see what is converting and what isnt. #insidetip — Never go 1 day without check your sales …this is key to staying on target
- I ask questions weekly of customers and of my directors to find out what is going on with our events/products. Establish a platform of communication with your customers. I get ccd on all emails that go to customer service, I don’t read and respond to all of them, but i do read and review up to 25 a week to keep a pulse as to what is going on. I put out fires when necessary and always speak to the person directly responsible for delivery to get the information I need. #insidetip don’t get into wars with customers. If they complain figure out if you can service them, if you can help them and how to satisfy them completely, if you they are unreasonable offer alternatives solutions and figure out what will make them happy, if they are a continuous and on going problem or threatening drop them as a customer. I never waste time and have my staff waste time with unreasonable people, let them make someone else’s lives hell. Do whatever it takes to keep every single other customer.
- Figure out where your product, event or solution needs improvement. Ask your team as to what they think can help. They are usually a great resource. Ask your customer what they may like about other products verses yours and figure out if thats something that should be incorporated in what you do. Track your improvement and tweaks. #insidetip never get complacent if you have success, that is the biggest way to go under in business. I know it almost buried me!
- Look for new marketplaces. You must continuously look for new marketplaces and opportunities for your business. In the 16 years in business, i have changed our focus several times in an effort to capture the marketplace. 2x I have created market dominance. Those 2x of market dominance is what keeps us in business today. At least 10x I have tested opportunities that failed. You need big wins to offset small losses. #insidetip, do not spend a lot of money on a new marketplace or opportunity without test marketing it. For example if you launch a product launch in 1 city and see how it goes before expanding nationwide.
- Find allies. This is critical, find parters internally and externally that will compliment your business and run those people. Those mutually beneficial relationships will grow your business 10x. #insidetip do not set up 50 of these partnership, focus on a few partnerships that can be radically successful.
If my advice is helpful please give me some claps and share with your friends and colleagues. As always I am here to help email me at email@example.com
By David Schuman, Founder NUC Sports, @nucfootball @nuc_football in instagram or @daveschuman on Instagram www.nucsports.com