Recently I was speaking with a business colleague about growing his company. During that conversation, he kept talking about how his competitors are doing so much better than him. I couldn’t help but think how much this was consuming him. Roughly 90% of the entire discussion and words he spoke revolved around his competition.
That just didn’t make sense to me. I couldn’t comprehend how much focus he was putting on other people in his industry.
I couldn’t help but imagine how well his company would be doing if he spent that same time focusing on his company. Using that brain power to increase revenues and profits, and empowering his team to bring forth creative ideas for further development.
He went on and on for about 30 minutes, really just talking about how all the other companies in his industry were doing so well. He couldn’t understand why if his website ranked higher on Google, why they had more employees, and why they were getting more business.
Eventually I had to stop him. These thoughts were clearly controlling everything he did. He was allowing these thoughts to dictate his daily actions, his goals, his aspirations. The biggest problem with these thoughts…is that they are just that…thoughts. They are not FACT. There was no way he could determine the revenue that these companies were generating. He could only gauge the total number of employees.
There were no facts relative to:
- Number of Clients
- Churn or attrition rate
- Client satisfaction levels
- Employee engagement levels
- Debt to Income Ratios
- Bank Loans and Overall Debt
- AGI – Adjusted Gross Income per Employee
- Or a multitude of other things
The result of obsessing over all of this was a mindset that he wasn’t making headway with his business.
If you are going through something similar, I’ll share with you exactly what I shared with him.
Let it Go!
It’s irrelevant. It’s not accurate. It’s not fact. It’s a waste of time. It’s a waste of thoughts.
Put your time and effort into growing your business. Focus on your primary and current goal. You need to know who your competitors are, but you should not obsess over them. That mental thought is taking us valuable space in your head and you need to maintain your FOCUS!!!!
Focus…Focus…Focus…on the right things, not the wrong things.
Now go off and take action on your primary and current goal!
ps…don’t forget to download the 12 PiPs to Personal and Business Success!