Today’s topic? Competition.
I can’t tell you how many phone calls I have received on this topic over the years.
It’s number one on everyone’s list.
- Who is my competition?
- How do I beat them?
- They’re going to take all the clients!
NOT TRUE. Plenty of business out there for everyone folks.
Let’s take a look at the realtors in your town. How many are there? I’ll bet you five dollars that none of them are stepping on each other’s toes and that there is plenty of business for them all. One company couldn’t possibly handle all the business in one town … they would be overwhelmed and would soon be out of business.
Trust me on this one as this actually happened to a client of mine. They started a business in Washington DC, put up a website, and created a great advertisement that she posted everywhere she could think of.
The good news is that it worked! She hit the market with a unique idea at exactly the right time.
The bad news is that she was flooded with business and soon became overwhelmed. Sadly, after a few months she had to shut down as she couldn’t handle all the business. She then reached out to me, we reorganized her, and she relaunched a few months later hoping that lightning would strike a second time. The result? While she didn’t get flooded the second time, she did get a decent amount of clients and happily stayed in business for years.
Clearly one company cannot handle all the business in an entire town.
Here’s another way to look at it … what would McDonalds be if Burger King hadn’t come on the scene?? Wendy’s? Taco Bell?
Think they spend their time sending each other hate mail?? I was first! You can’t set up your restaurant! It was my idea!!!
Actually, have you ever read any of Wendy’s tweets? Laugh out loud funny! Here’s a link to a few of them: https://www.boredpanda.com/funny-wendy-tweets-jokes/?utm_source=google&utm_medium=organic&utm_campaign=organic
See my point? PLENTY of business for everyone. One town can certainly handle more than one company offering the same basic services with no problem at all.
I think competition is good for the soul. It forces us to do better and offer a better product. I also firmly believe in building relationships and working together towards the common good.
Working together will get us farther than working apart.
And yes … I practice what I preach. Over the course of my career I’ve actually trained a few of my competitors (although I’ll admit I didn’t know it at the time) and have even given them some referrals. Should I get mad every time someone publishes another book on the Independent Concierge industry? No. It’s a big world out there and there is plenty of business for everyone. Since the industry is so young, I personally believe that we need more books on the topic!
My advice to everyone is to bless your competition, shake their hand and welcome them to the neighborhood. Say positive things about them and build a positive relationship. Don’t judge them for what they do or not do. Instead, greet them warmly and let them be.
Now why on earth would I want to do that? You might be thinking as you read this.
Good question. One reason might be that it’s the last thing they’ll expect you to do. It will certainly shock them for a minute, which is actually very entertaining <GRIN>.
The real reason is this … there is a universal principle in the world called The Law Of Focus that I secretly like to call “The Law of the Boomerang.” This natural law states that what you put out into the world will bounce back at you like a boomerang. So if you put out honesty, integrity, love and respect, then positive things will bounce right back at you and will only make your business better and more prosperous. However, if you put out jealousy, anger, fear and hatred then please learn to duck because it’s coming right back at you.
The short answer?
Love gets you farther than hate.
Until next time!
Katharine
