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Read time: 2 mins
As young kids, we both hated to lose.
As a 6-year-old, Steve would throw tantrums when he lost at anything - basketball or Monopoly.
Lynne was different.
She would feel disappointed and ashamed if she lost; like she'd let herself and others down.
If you’ve ever hated losing too, you know these feelings.
But as we grew up and became college athletes (Steve basketball and Lynne swimming), executives, parents, and business owners, we’ve changed our mindset on competition.
Now we know it’s fuel.
It’s a superpower.
We use it every day to build our business and be better.
Here are the 3 shifts that made the biggest impact for us.
3 NEW WAYS TO THINK ABOUT COMPETITION
1. It brings out the best in you
A few years ago, one of our CEOs was preparing for an investor day.
A significant competitor was taking a lot of market share, and everyone expected the CEO to be defensive and maybe even aggressive.
He did the opposite.
He said, "We welcome all competition."
"It drives us to be more innovative, collaborative, and pushes us to excel."
He was right.
Don't view your competition as a threat.
Treat them as a tool for you and your business to grow.
2. Competitors can be friends
Competing is usually about going head-to-head, with one winner coming out on top.
It doesn’t always have to be that way in business.
Instead of viewing other businesses as rivals, try considering them as potential teammates.
Seek partnerships and look for ways to collaborate with businesses in your field or similar fields.
You can often achieve more together than on your own.
3. YOU are your BIGGEST competitor
We used to think we needed to beat our competition.
We had to outplay teammates to get more playing time.
We had to outwork colleagues to get a raise or promotion.
In some cases that may be true.
But the real step change comes when you become your own competitor.
The real competition is your discipline, skill set, mindset, and leadership.
Once you make this shift, your outcomes will never be constrained by others.
Put in the work and control your destiny.
Time to get to work!
Speak soon,
Lynne and Steve
TLDR
- Competition fuels personal growth and business success.
- Collaboration brings mutual benefits and innovative solutions.
- Team up with businesses instead of just competing.
- YOU are your biggest competitor.
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