As entrepreneurs, we frequently see other business owners as rivals. We believe we must outperform, outsmart, and simply outdo them. We need the rest of the world to recognize us as the best of the best, or the cream of the crop.
That mindset is prone to flaws, and it has never served me well. Instead, I’ve always preferred to gather with other business owners, particularly women, to share ideas, converse, and strategize. We all grow and become better versions of ourselves as a result of this, not only in our businesses but also in our communities.
The importance of cooperating, collaborating, and partnering with other business owners, particularly those in your industry. It can be extremely beneficial to an industry’s morale to demonstrate that it can come together collectively and serve alongside one another for the betterment of its customers.
Developing the mindset that we are not competitors, but rather a community of business owners serving people can provide invaluable benefits. When we change our mindset and look at each business as a whole rather than as an individual, we can change people’s lives, which can and will most certainly change ours.
Community over competition
How would you react if your biggest competitor tagged you in an Instagram post and gushed about how great your most recent project was? I know that I will get excited.
The thing about praise is that no matter who gives it to you, it always makes you feel good. Your competitors are not immune.
That is, no matter who you are, how long you’ve been in the business, or how well you know a specific person in your industry, your positive energy will warm that person’s heart.
Dopamine and serotonin are highly addictive, you guys. We always want more and will go to great lengths to obtain it.
Far enough to say, return the compliment. Alternatively, you could refer a client. Or work together on a project. Alternatively, seek advice. Or go out for coffee. Or share a conference room.
When you encourage and assist aspiring entrepreneurs, you demonstrate your character not only as a person but also as a business. It demonstrates that you are not only concerned with yourself but also willing to assist and invest in others.
That is priceless in today’s world. People certainly pay attention. Never lose sight of how difficult it can be to launch a business and find the answers you need.
Showing genuine integrity by embracing and assisting other business owners will distinguish your company. Many consumers today seek companies that share their personal core values.
People want to support those companies, whether financially or in other ways. This is merely an unintended consequence of simply doing the right thing. Isn’t the golden rule famous for a reason?
It keeps you grounded
When business is booming, or even just going in the right direction, it’s easy to keep your head down and do the bare minimum to keep things consistent.
If it’s working, it’ll be much easier to just sit back and coast. Allowing your business to run on autopilot is the easy way out; however, doing so prevents us from remaining nimble and alert to unforeseen challenges.
When we are not actively learning and communicating with other business owners, we expose our own venture to changes that may affect our bottom line. It is critical to share our knowledge and expertise as we are constantly learning and staying alert.
Although it may feel contrary to what you’ve been told or even what feels natural, there is real power in assisting others in succeeding. We become the best version of ourselves as we help others improve and grow.
Focus on the person
Nobody can take away the YOU factor, no matter how stiff and vast you believe the competition is in your industry. You are what distinguishes your company from the competition.
This is your secret sauce that draws people to you, and your competitors have the same. Profit from this factor and keep in mind that there are more than enough customers for everyone.
The world is much larger than we can comprehend, and it is filled with diverse cultures, values, and personalities. This is what a growth mindset entails.
Every customer or client, like every business, is unique. Although we will never be able to appeal to everyone, there is someone who can fill that void.
There are still billions of potential customers waiting to join one of our incredible communities. It is our responsibility to put ourselves out there in order to find and reach them.
When you assist someone else, you are not only providing insight and ideas into their business, but you are also engaging in an open dialogue about those concepts, resulting in a spark of new ideas and improvements that you can implement on your own.
You are frequently so involved in your own business that you overlook seemingly obvious improvements. That outside perspective is much more important than you realize.