To grow your business, competition is said to be essential but it triggers anxiety and stress. A vast number of business strategies are based on how to win against competition because the average entrepreneur is focused on what others are doing or not doing. Entrepreneurs are concerned about being better than others and not focused on being the best they can be to long-term growth.
An entrepreneur can not lead a venture to long-term growth and success by being focused on competing with others because it is not the best type of competition.
Compete is to ‘strive to gain or win something by defeating others’.
‘Striving to gain or win’ is vital to growing your business for the long term.
For me, it is the need for ‘defeating others’ that creates stress. Do you feel the same way?
I want to create long-term growth for my business but competition feels less optimized way to get there.
The competition introduces win or lose, success or failure, to the equation.
Persistent competition is detrimental to long term growth because it encourages decision making and strategy building with the short term in focus.
To compete with others, we focus on a particular result. This result is only a little bit better than what others can achieve. It limits us from getting to the highest level we can. We overlook or even ignore mastery of any skills that do not benefit our chances of winning in the short run.
In comparison, there is a type of competition that results in gains to the highest level possible. There is no loss or failure. Only success and win is at every stage.
That competition is Self-Competition. As individuals and businesses, Self-Competition is the best competition for long-term growth.
Some of the benefits of Self-Competition that help you grow your business:
1. Only Win, Win, and Win: Every new milestone achieved, every skill mastered, roadblock overcome, is a win.
2. No Rush, All Win: We can take as much time needed to achieve each type of win. There is no external pressure and we are committed to master, win, and succeed.
3. No Fear, Only Abundance of Energy: Each success motivates and encourages us to keep going because improvement is the best motivator.
4. No Loss, All Growth: There are no losses, thus no fear, stress, or anxiety. We cannot lose on a journey of self-improvement. We keep trying until mastery is achieved.
5. Every Challenge Conquered: Confidence grows with each win; we continue to overcome challenges.
When starting, most of us have no idea how to compete with ourselves.
I have learned, this is a competition between our past and present selves. Our future self wants to be better, stronger, smarter, and more prosperous. To make this a reality, our present person has to be better than the past one.
How to do that? Follow the steps below to get started on competing relentlessly with yourself and for yourself.
Create a mindset of continuous learning and growth. Read, listen, and practice new ideas in your line of work. Warren Buffet spends 80% of his day reading! Bill Gates reads one book a week.
Start from where you are and then improve upon it. Know and accept yourself, then compete. I am not Warren Buffet or Bill Gates, I had said to myself at the start of my ‘self-competition’ journey. I cannot read one book a week now, but one each month is doable. That is better than four or fewer books a year I have been reading for years.
Compete in every area, not select few. Importance of getting better at cooking, organizing, managing money, making healthy choices is the same as improving sales and marketing skills. The goal is to win as a complete self. Bill Gates does dishes every night he is home.
Try not to expect recognition for the wins. People around you will recognize the successes and growth in their own time. Do not expect or wait for them to acknowledge it. Continue moving to higher levels of competition after every win.
Only you decide what areas to compete in and at what time. Do not let what others may think to be interesting and valuable, impact on your decision. Fully accept your own level of expertise and make goals based on what you would like to improve.
Last but not least, Fear and Limiting Beliefs will show up every step of the way in this journey. Last year, fear and shame became roadblocks in my writing competition with myself. I did a pivot and started a new competition to become fearless.
I read books, watched videos, meditated, and worked hard for six months to conquer the fear which helped me win both competitions.
If you are a snail in a jungle full of zebras and cheetahs – be the fastest snail you can be. Be the Snail-on-fire like the one in the illustration at the top of this post.
Others have their challenges, let them worry about those. You focus on being a better and better version of yourself every day.
The more wins you have in this competition, the more your business will grow for the long term. Also, you will experience a happier, joyful, content life with each new win.
So the message is, Compete Relentlessly with Yourself and be on fire every day to experience the joy of winning at every level. Long term growth, prosperity, and happiness are guaranteed when your present self exceeds what your old self could do or imagine.
If my thoughts resonate with you, leave your comments under this post and share your thoughts and experiences. I look forward to reading them and learning from you. If you feel more people need to hear this message, share this with your family, friends on social media.
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Remember, growing self will help you grow your business!
Appeared initially on Grow Self, Grow Business Blog