Are you letting competition defeat you?

by | February 22, 2017 | Entrepreneur Life, Everything!

Are you letting competition defeat you before you start?

Dealing with competition can suck. Did you ever have an idea for a product or service and discover then that there are many others already doing the SAME THING?

Disappointed, discouraged? Ready to give up?

Before you throw in the towel, I want you to look deep inside. Really, look deep inside and pull out that part of you that contains your doubts, anxieties, and other limiting beliefs.

Sit it down on the sofa beside you (as if it was another person). Tell it to name ALL of the reasons why you can’t do what you’ve dreamed of just because other people are doing it as well.

Then, look into its eyes and say  ….. “F**k that!

Excuse my language, but do you feel better now?

This is probably how you got to this point.

You have an idea. It’s something that you are passionate about and have been dreaming of doing for a while. It’s your ‘someday’ vision. It may or may not be practical, but the damn vision gnaws at you for the majority of your waking hours!

Finally, you have a moment of intense inspiration. You go online to find out how to get started, and then … google happens. There are pages of people doing the same thing.

For example,  if you want to start a coaching business, there are lots of other coaches. Some have fancy websites, some have lots of testimonials, some may have even been on TV. You wonder how are you going to compete with these people. You have no idea where to start!

You could think:

  • But there’s so much competition!
  • How will I stand out?
  • How will I get clients?
  • They’ve been in business longer!
  • They are better! They have fancy titles!
  • Why would anyone choose me over them
  • I need more experience
  • I need more …

Ok. Fine. Keep doing what you are doing then.

If you keep playing the comparison game, you’ll likely lose.

But realize hardly anyone ever says “I shouldn’t go to medical school because there are too many doctors” or “I shouldn’t get a business degree because there are too many accountants” or “I shouldn’t apply for this job because this business has too many employees”. If you want to work for someone else, it’s not even questioned. So why do we apply this limiting mindset when it comes to working for ourselves?

Experience is the best teacher, so get some.

Yes, there is competition.

I’m not going to lie. I have an MBA and I’ve taken all of the business courses and have done enough competitive/SWOT analysis to last me a lifetime. But that also assumes a zero-sum environment, where there are a finite amount of opportunities and that every client of someone else’s is one less for you. That’s a scarcity mentality.

If the above doesn’t make any sense, let me put it this way: I drink Coke AND Pepsi!

Ok, but what do you do NOW?

Every business and self-help book I’ve ever read suggests the same thing – focus on the end goal.

After you’ve cussed out your doubts, look at the bigger picture and understand:

  1. Because there is competition, there is a market for what you have to offer.
  2. Your vision exists for a reason. It chose you.
  3. You aren’t validated by your employment. Your self-worth is not defined by anyone’s willingness to hire you – it’s a bonus!
  4. You can give yourself a fancy title if you want.
  5. Having an abundance mentality will put you further in your business and in your relationships.
  6. There’s enough, and plenty, for everyone!
  7. Embrace your competition – you can learn from them.

You DO need to stand out!

  1. Discover your unique value proposition. What do you offer that is valuable to others?
  2. What is unique about you? Is it your sense of humor? Your tone of voice? Process?
  3. Do you have an amazing or inspirational story?
  4. Is there a void or underserved market that can benefit from your services?
  5. Is there a way that this market isn’t served?
  6. Is there a way to improve what’s already being offered?

My final spiel …

Look, you aren’t going to be everything to everyone, but you are going to be something to someone. You are going to be a lot to many. Your clients are going to be happy you’ve shown up.

Are YOU ready to show up?

If so, I encourage you to book a strategy call with me. You’ve found those other people online, right? Let me help others find YOU. You need a website and if your current website is lame, I can fix it for you.

Take it from a fellow solopreneur, you’ve got this!

Show up now!

Until next time ….

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About Me

I'm Kim and I help ambitious coaches and speakers elevate their online presence so that they can attract their ideal clients for more leads & sales!
Kimberly Inez Mays

Kimberly Inez Mays

Online Brand Strategist, Founder

With over 10 years of web design and development experience, I help entrepreneurs build and grow their online brands. I love everything tech and can’t wait to help you shine online!

I currently reside in NYC with my 2 selfish cats and I’m addicted to caffeine (which helps with the late night coding). 

Fun fact: My initials are K.I.M 🙂

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