Let me get this straight and hot: Not considering your competitors is costing you clients. Specifically, not realizing the importance of competitor research in your biz is the real problem.
I know, I know…. Nobody likes to talk about competitors.
Maybe it’s because of “friendship over competition” or because of some (very well hidden) impostor syndrome within you. But the truth is that we have been so brainwashed in thinking that we don’t need competitors and we need to be doing our own thang……that we have forgotten the whole purpose of having competitors.
Competitors are the people that tried something before you and it turned out pretty good.
You have a shared passion and expertise for a certain topic… and nobody is stopping you to be friends with them!! I would actually encourage you to do so, and I’ll explain why in a bit.
Competitors are the people you were looking for when you were first starting your business. I can guess you were full of admiration for those human beings who were able to make their dream reality and you were just hoping to get there one day!
So now stand up and take a long look in the mirror… Because you became that person now. Someone is now looking up to you for guidance and support, and whether you realize this or not, your dream is getting closer and closer (if you are not living it already!).
What I am saying is that you don’t have to shy away from some healthy competitor research just because some coach told you to put your blinders on and don’t think about what other people are doing. By any means, you should NOT focus solely on what other people in your niche are doing… but you need to have an idea of what they are doing so that you can do your thang. Makes sense?
As you can see, there is nothing bad in looking at competitors from this angle.
Although I get it. You might be scrolling on Instagram trying to see what other people are doing in your niche and 3…2…1… You are now triggered. Somehow everyone is doing much better than what you are doing and somehow everybody’s business but yours is thriving.
But here the problem can be fixed with some (well needed) mindset work. Because if you feel triggered by your competitors and decide to never look at them ever again… There is some work that needs to be done within you first.
A healthy way to let your competitors help you grow your business is by comparing what YOU want to do to their approach.
NOT the other way round – you don’t wanna be influenced but you simply want to improve your stuff. For example, if you are putting together a new program or service, your competitors could give you a hint in the right direction in terms of what is missing or what can be improved.
When you start doing some healthy competitor research, you’ll realize how much more freedom you can have in your business. Because once you know where your competitors are standing, then you are free to decide what direction to go! What would you do if you knew you’d never run into your competitors? How many exciting things could you be creating for your audience that would be truly YOU, and not a bad copy of someone else?
We always include deep competitor research in our brand strategy because we value this so much…and because you could always strategically collaborate with them for some extra visibility 😉 Think in terms of podcast opportunities, guest speaking within your competitors’ group program, and much, much more!
What is the relationship with your competitors? Love them or hate them?