How to Overcome The Fear of Competition & Win Every Single Time
We all face competition. Yet many of us look at competition the wrong way. Find out how you should be viewing it.
Competition has so much power over us. It can impact happiness and affect the way we scale our business.
So, let’s get into some detail here…
What are the specific worries you have about competition?
You may hear that business is going well for your competition. Maybe you see that some of their services bear some similarity to yours. Or maybe it’s getting into your head that they’re copying certain things from your own business.
This type of thinking can act as a trigger for negative thoughts. It may make you uneasy. And you lose focus and make bad decisions.
You may even see former clients go to the competition. Your previous clients may sing praises about your competition and leave you thinking, “Maybe I did something wrong.” Or even worse, “I wasn’t good enough for them.”
And some clients may even go on to become trainers.
If you’re lucky, your past clients give you credit for what they learned. In some cases, though, you may see the clients go on their own without giving reference to where they learned everything. Namely, you.
I know how that goes.
You may feel disrespected, undervalued and end up spiraling into negative thoughts and negative self talk.
Well, let me tell you a secret.
There is a much more positive, healthier way to think of your competition. I want to share 5 key principles and insights that will help you soar above the competition.
Ready? Here goes…
Don’t Get Competitive, Get Introspective
What do you worry most about the competition? For most of you, it’s 3 things. You worry that:
- The competition does better than you
- The competition will put you out of business
- Competitors get more respect and recognition than you
It’s entirely natural to be concerned about these things.
Ultimately, though, what do you really want?
You want what all business owners want: security, safety, and respect. Furthermore, you want the peace of mind that comes from knowing that you’re growing and winning.
But if you’re trapped thinking negatively about your competitors, it can really throw a spanner in the works.
One of the things we focus on in my Mastermind is personal development. Developing this area can help you grow a business. But not paying much attention to it can really stifle your growth.
This was the case for one of my clients, Chris Murphy.
Chris Murphy came to me when he already had an established business. He had 30-40 clients a week. Chris thought that he was “okay” business-wise.
But he realised that he could do more. He just didn’t know where to go.
With my help, Chris delved deeper into the personal development aspect of the business. I teach that it’s the basis of creativity, productivity, and finance management. Personal development is intricately interwoven into your business success.
After completing my Mastermind, Chris grew his business in a way that he hadn’t thought possible before. His work with personal development also helped give him the confidence he needed to take the necessary actions for success.
So, how does personal development play into beating the competition?
Personal development helps you focus on the things you can control. You can only change the way you think and the actions you take.
But when competition pops up, it’s easy to think of it as a barrier for all the things you want. There are ways to beat this competition barrier, though.
One of the most important things you can do is to look at yourself.
And there are three key things that you can change in life: perception, decisions, and actions.
You can’t change what your competition will or won’t do. But you can position yourself to better handle everything your competition throws your way by taking responsibility for what you CAN control.
#1 – Look at Yourself
First, if you feel anxious about competition, it may be time for some self-reflection.
Perception is essential to your success. Whether your competition is up the road or a former client, your perception is your reality.
I’ll tell you something that you may not have known before:
Your perception of the competition really comes from how you see yourself and how you think others see you.
It may be strange to say, but the way you see competition may not have anything to do with your competitors. But it has everything to do with your perception of self.
And if you have a negative perception of yourself? There’s a high probability that something like ‘competition’ or a client leaving you is a way of confirming that negativity.
It becomes a self-fulfilling prophecy.
If you do feel threatened by competition, it may be time to take a look at yourself. Because if you know exactly who you are, nothing anyone says or does can leave you feeling anxious or inadequate. You become mentally bulletproof.
There’s a certain power in knowing who you are and that you’re worthy of love. This is an affirmation that I constantly say to myself. Everything boils down to love and acceptance.
#2 – Competition Isn’t a Bad Thing
Next, try flipping your perspective. Think of all the ways that competition can benefit you.
That’s right. Competition comes with a multitude of benefits.
For example, it may inspire creativity in the way you do business and approach your services. It can also teach you to not get complacent. Some of you might need competition to kick yourselves into a higher gear.
Additionally, it can help you get better at sales and marketing so that you can stand out among the crowd. On the whole, you refine and tighten up your operations if you have to face competition.
Once you face yourself and why you feel anxious about competition, it’s time to move to the next step. Understand that healthy competition makes you a better entrepreneur. It inspires you to do better and be better tomorrow than you are today.
#3 – You Offer Something Unique
How often do you lump sum your competition?
On one occasion, I had 3 ‘so-called’ competitors sitting within my mastermind. They all used to talk about each other and play the blame game. They said things like, “They are doing the same thing as me,” or “My clients left because of them.”
Do you know what happened when we zoomed out? We found out that each of these so-called competitors offered something different. They had different values, trained different things, and even targeted different demographics.
So what was really happening here? They fought amongst themselves. But they didn’t realise that they were each unique in different ways.
One of my clients, Wayne, understands the power of shifting focus.
He came to my Mastermind because he felt that he was too focused on what everyone else was doing. As a result, he didn’t pay enough attention to his own business. His main problems were procrastination and clarity.
However, as he worked through my trainings and workshops he successfully shifted his focus back to where it needs to be. Now he focuses on constant refinement.
He understands through my Mastermind’s personal development training that he offers something unique. So Wayne doesn’t view his local competitors as a bad thing anymore. Instead, he uses competition to create and inspire new ways to do business.
It’s important that you have a unique message. That’s your unique selling point. Your competitors may do something similar. But there’s no one who does things exactly the same way you do.
#4 – Stop Focusing On Success
Success means different things to different people. The truest sense of success is defining your own meaning and terms.
Success for you may mean money, freedom, or changing people’s lives. For me, it means all three.
However, most people perceive success as purely financial – having plenty in the bank. That’s it. But we all know people who are wealthy and very unhappy.
Normally, when you focus too much on one area of life, such as business, you neglect other important areas like health and family. I’ve been there.
Is that what success looks like for you?
Instead of striving for success in just one area of life, notably money. Do your best to fulfill other areas of life including family/relationships, mental, spiritual and physical health. Embrace everything that life throws at you. It’s a balance of support and challenge. And of successes and failures.
Each moment can teach and inspire you to do better, as long as you don’t get caught up in being successful in one area.
Beat the Competition by Being a Better Version of Yourself
You may think that competitiveness is toxic to your business. It leaves you feeling uneasy and anxious about how others perceive you. Especially if you fail.
If you feel uneasy about competition, it may be time to take a deeper look at yourself. Competition comes with many benefits. But you have to shift your perspective to see them.
You don’t have to compete against everyone else. You just need to be a better version of yourself. It’s all intertwined. When you stop nurturing a negative self-image, you’ll see that you have something unique to offer. You have your own unique value. Your own unique self.
So stop looking at what everyone else is doing. It’s time to look at YOU. You’ll find the answers to beat the competition if you’re willing to do the personal development work.
Are you ready to transform your fitness business so you can achieve the income and freedom you’ve always dreamed of? Take a look at my 10 commandments.
I hope this helps you. Take care
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