Indeed, change is inevitable; change is constant. With the pace at which society progresses, business owners strive to find new strategies and ways to dominate their markets and they have to do whatever it takes to survive no matter how bleak the future might look for the economy especially these days.
Yes, times do get tough and always, we need to equip ourselves and our businesses to get ready with what the future has in store for us. Let me share with you here, the 3 Cs to Competition-Proof yourself in this new world.
Competition is a Myth
Survival of the fittest is a widely used and accepted term in business and everywhere else. To survive is to compete against others fighting for the same resources. Almost always, it’s not healthy. See, the gist here is that, for you to achieve your goals and flourish, someone else must not succeed in achieving their goals. And you are seen as superior only when you beat your competition, it’s the ultimate triumph! But do we always have to see each other as competitors? Is being better have to mean bringing someone else down?
The idea of having to compete and needing to win against another entity is ingrained in every business and culture, so how do you protect yourself and your business from falling prey and just simply survive in this so-called competition?
Expand! Why fish in a small pond when you can go to the ocean and catch more and even bigger fishes? When you expand your business to different locations, areas, and different sets of people, you expose your products and services to a broader audience. Be open to all and increase your customer base. In this way, you will be able to convert more customers and improve your sales.
Always, remember that competition is a myth! Because the world is vast, you can expand your business and expand your mind!
Collaborate
Don’t put all your eggs in one basket. A holistic, diversified approach can help – Collaboration. See, when you put all your eggs in one basket and for whatever reason, the basket gets knocked over, all your eggs will break and you will lose them all in one shot. However, if you put your eggs in several different baskets, the chances of losing them all in one go will be avoided.
Successful businesses are huge because usually, they operate across markets so that even if one market is not performing well they can rely on other markets to average returns.
Now, to be truly successful in expanding your business and achieve greater geographical spread, collaborate and team up with other businesses. Advertise together, share marketing efforts, co-author presentations, co-brand products, and redirect business to each other’s websites. Increase learning possibilities when you partner up with others or share your services and skills with other businesses. Be a mentor to one another. When you foster collaboration, you deepen ties and assure longevity which, in return, will benefit everyone: business, employees, and customers.
Create
Creativity is the key to survival. In today’s highly competitive global environment, companies who can think outside of the box are able to sell more of their services and more of their products. Creativity is what fuels big ideas and challenges our way of thinking. But then, how do you keep your mind to be more creative and innovative? Continuous learning!
Be a life-long learner. Extend your learning and increase your knowledge about society, the economy, and the world. Successful business owners don’t stop with what they already know, successful business owners continue to attend seminars, earn certificates, and attend workshops. When your knowledge and skills are basic your creative confidence is not enough for you to collaborate and share innovative ideas. Continuous learning supports the improvement of knowledge, skills, and tools to support organizational goals. Cultivate a thirst for knowledge and let your imagination run wild. As your mind grows, ideas flow and the need to collaborate becomes an exciting journey to deepen ties and better business relations. A creatively innovative mind opens the door to new business opportunities and better business relationships.
So don’t forget! Understand that competition is a myth, instead, look at the world as your clients. Remember to avoid seeing other businesses as competitors, assuming they want you to fail. Again, competing is not the be-all-end-all to survive, rather, survive by being constantly in the mode of creation. And with your creativity, collaborate and learn from other businesses so that you may grow successful together. It is possible!
