I have recently realized this is a problem for me. I run an online business in a very niche market, so anyone in this industry knows one another. Many of my competitors came along long after me, but had start up capital that helped to catapult them way ahead of me in most areas. My company is doing ok, growing slowly and steadily.
I know if these other companies weren’t in my periphery all day long, I’d be happy with where we are. But instead, I constantly feel like I’m falling behind. I know 100% this is a “me” problem, but I’m just curious if anyone else has ever dealt with this and how you snapped yourself out of it.
I’d challenge you with that. One way to prove yourself wrong is to start tracking certain metrics. What areas do you feel you’re falling behind in? Track those areas. What you measure gets managed.
Your Competition will be around for a while, but I’m sure you’d like to feel a different way soon. I get that.
This would be a good time to remind yourself of the values and strengths of your company/brand. Start setting some new goals and focus on working toward reaching them. That’s more rewarding than losing energy thinking about the competition.
Another approach is to know your competitor well. Find an area of their products or services that you find a gap or fault in. Do you solve the problem better? Does your solution save them more money?
The name of the game is differentiation. When a customer thinks of someone to solve their problem, you want your company/brand to be the top possibility.