What are you doing to outperform your competitors?
Competitive advantages emerge from what you focus on.
Focus is your commitment to reaching a goal in a certain way. (E.g. what you choose to do in order to create a brand that makes the best T-shirts that men can wear at the office).
And this is only by investing your resources—time, effort, and money—on a specific set of actions that you can create competitive advantages along the way.
It is true for people and for businesses.
What excites you, what makes you perform at a higher level, and what people want from you tell you how you should invest your resources.
You have to start by choosing on what you should focus. But figuring it out is an experimental process. You don’t plan this. You do things and see what works and what doesn’t work for you.
Thriving in a hypercompetitive environment doesn’t happen overnight. You’ve experienced this.
It takes time to build skills, reputation, and trust. And that requires a consistent focus. You certainly don’t know what the end result is. But you need to pick a direction and focus on it with consistency.
Hypercompetition makes it less likely to build competitive advantages that last. Change happens too fast…
In that situation, many people give up. Those who make it to the other side have one thing in common; they keep a consistent focus on where they can win.
…On a Long-Term Strategy
Those who fail don’t make a choice. They don’t commit. One day they have a strategy and the next day another strategy. They’re looking for short-term gains.
You’re in the long-term game.
You make consistent and reinforcing choices. What makes you irreplaceable, what makes you outperform your competitors is built overtime, not in a few months.
So What Is Your Competitive Advantage?
There are many ways you can do better than the competition. You just need to pick one and keep focusing on it.
Choosing on what you compete is a strategic decision. It as a consequence on the tactics you should pursue.
So what are you competing on?
“If you’re competing on price, you’ll spend most of your time counting pennies.
If you’re competing on noise, you’ll spend most of your time yelling, posting, updating, publishing and announcing.
If you’re competing on trust, you’ll spend most of your time keeping the promises that make you trustworthy.
If you’re competing on smarts, you’ll spend most of your time getting smarter.
If you’re competing on who you know, you’ll spend most of the time networking.
If you’re competing by having true fans, you’ll spend most of your time earning the trust and attention of those that care about your work.
If you’re competing on credentials, you’ll spend most of your time getting more accredited and certified.
If you’re competing by hustling, you’ll spend most of your time looking for shortcuts and cutting corners.
If you’re competing on getting picked, you’ll spend most of your day auditioning.
If you’re competing on being innovative, you’ll spend your time being curious and shipping things that might not work.
If you’re competing on generosity, you’ll look for ever more ways to be generous with your time, your insights and your work.
And if you’re competing on always-on responsiveness, you’ll spend your time glued to your work, responding just a second faster than the other guy.”
— Seth Godin, author of The Dip
There are not many solutions to thrive in a hypercompetitive environment.
Here’s one that works:
Focusing consistently on a long-term strategy.