Business Magazine

To Overtake Competitors, Overtake Yourself

Posted on the 18 April 2011 by Alanhargreaves @RechargeToday

Why your personal best is better

Competitor analysis is a great way to assess where you stand in the marketplace. If you methodically work through the key strengths of your competitors, it will soon become apparent where you do well and where you could do better. It’s a useful process; one that should be ongoing, not just a one-off project.

But there’s a danger here. If you focus only what the others are doing better than you, it is easy to lose sight of what you do well. It is an axiom in life that some people do some things better than you. Conversely, you do some things better than others.

In business it is no different. Competitive advantage comes from all sorts of sources. It might be location, time in the market, technology, training, key personalities or something special to them, or you.

Some of these things can be addressed. Sometimes they can’t. If your competitor has a natural strength in an area where you are weak, you can waste a lot of resources trying to address it. Another axiom is this: it takes a lot more effort to make a half-way decent impact on your weaknesses than it does to lift your strongest suit to an even higher level.

What is the alternative?

Instead of undertaking a major project to address a perceived weakness, try just doing everything slightly better. Ask your sales team or your counter staff to go the extra mile for just one customer tomorrow. Ask them to tell you what they did at the end of the day. Start a dialogue about it.

If you want a work environment as good or better than the opposition, do the same thing for one of your staff tomorrow. Ask other managers to do the same. Write it down at the end of the day. Share the information. Then do something again the day after.

Start building a culture of doing something a little bit better each day. Build on your strengths. Ask people what is going right. Then ask them if they can do more of it tomorrow. You will start to build momentum in the areas where you and your people are naturally strongest.

It has long been understood in sports psychology that athletes perform better – and consistently better over longer periods of time – if they look to improving their personal best rather than focusing on the competition.

There is a natural advantage in this

By focusing on your personal best, you are constantly looking at what you are doing well. That in itself is positive. What’s more, you get encouragement and inspiration when you do it even better. Do this consistently and the marketplace will also start to notice.

Many successful businesses started this way. When Apple produced their first computer in a garage, they didn’t copy anyone. They just made the best one they could make. Apple still does. The IPod didn’t simply reinvent the Walkman. It moved laterally into an entirely new dimension.

You don’t have to be an entrepreneurial risk-taker to do this. It works for individuals, for managers, for small businesses and large corporations. Keep a keen eye on the competition, but don’t get bogged down in worrying about their strengths. Work on your own. Develop a culture of doing what you do best, then doing it even better.

You Might Also Like :

Back to Featured Articles on Logo Paperblog

These articles might interest you :

  • How Different Kinds of Bread Affect Blood Sugar Levels, Compared to Teaspoons...

    Different Kinds Bread Affect Blood Sugar Levels, Compared Teaspoons

    Think whole-grain bread is a good choice? Could it help you control your blood sugar? Not necessarily. If you look at the graph above (made by the eminent Dr.... Read more

    5 hours, 58 minutes ago by   Dietdoctor
  • Monday Musings.

    Monday Musings.

    Ugh, someone give me an IV of coffee, would ya?! This weekend was super busy but thankfully, it was well spent with my people. Since we’re moving (did you... Read more

    7 hours, 5 minutes ago by   Thesamanthashow
  • Summer Summertime Essentials

    Summer Summertime Essentials

    Summer is here, and boy did it slam us here in DC. Less than a week ago I was shivering in a coat and today it's 85 degrees. While I transitioned my wardrobe... Read more

    7 hours, 17 minutes ago by   Wardrobeoxygen
  • Auronya College Aims To Answer The Unknown Future With Education 4.0

    Auronya College Aims Answer Unknown Future With Education

    ,Auronya College aims to break the barriers to imbibe revolutionary means of providing global standard education to the youth. It is an amalgamation of modern... Read more

    8 hours, 8 minutes ago by   Jaideep Khanduja
  • Oriflame The ONE Lip Sensation Vinyl Gel Lipstick Review, Swatches & Price India

    Oriflame Sensation Vinyl Lipstick Review, Swatches Price India

    Oriflame has recently launched some luscious and beautiful lipstick gels under ‘The ONE’ range. Yes, it’s a perfect combo of lips gloss+lipstick! Read more

    8 hours, 17 minutes ago by   Jayshreebhagat
  • Brand24 – The Social Listening Tool You Need Today

    Brand24 Social Listening Tool Need Today

    Brand24 -A Social Listening Tool Brand24 is a social listening tool I learned about over on the Quora network. Not only does Brand24 monitor your social mention... Read more

    8 hours, 19 minutes ago by   Lisa
  • Easy Protein Noodle Lasagna

    Easy Protein Noodle Lasagna

    Meal plansGet lots of weekly low-carb meal plans, complete with shopping lists and everything, with our premium meal planner tool (free trial).... Read more

    8 hours, 51 minutes ago by   Dietdoctor