Start comparing yourself to others…

Now that’s a phrase that goes against what we learnt growing up.  

‍

But in the business world, comparison isn’t just healthy - it’s essential.  

‍

Comparing your business to others allows you to identify areas for improvement, to look inward and find spaces where growth is possible. By doing this correctly, you won't just be keeping up with competitors, you'll be outpacing them. And doing this regularly, you can always stay one step ahead.

‍

How to start comparing yourself to others…

‍

You’ve come to the right place. You see, I am a professional ‘comparing myself to others’ person. So, I think I have the expertise to really guide you in this process.  

‍

Only difference is, we will be turning this into the perspective of our businesses (just to be clear, comparing yourself as a person isn't the way to go, but comparing your business definitely is).  

‍

Furthermore, we’re going to be looking at comparing our digital marketing approaches. That is, how our digital marketing approach compares with those around us (our competitors).  

‍

Here’s my step-by-step approach  

‍

1. Goal setting  

‍

Define what success looks like for your business.

‍

Where do you want to be in 5 years' time? Is it increasing employees, turnover, followers, more locations, franchising? Gain objective answers to these questions using SMART goals so you can measure your success.

‍

2. Identifying the ‘others’  

‍

First of all, who is your  i̶d̶o̶l̶ uh- a̶r̶c̶h̶ ̶n̶e̶m̶e̶s̶i̶s̶, I mean, competitor/s? Make a list of them (I’d recommend physically writing this down on paper) and assess the following.

‍

Look for:

• All markets they’ve tapped into
• Trends they have been following  
• Medias they use (videos, reels, infographics, podcasts, webinars, carousels)
• Channels they use (website, email, social media platforms, forums, directories, affiliate)

‍

But also bring in some negative judgement, pinpoint areas where they are falling short, any trends they haven’t jumped on, any markets they’re overlooking, tricks they’re missing, etc.

‍

This is your chance to be a bit of a bully (just please don't go telling this to their faces, they would most likely accept the negative feedback).

‍

3. Look in the mirror

‍

Assess how the works of your competitors compares to where you are for the points above. Additionally, ask yourself:

‍

• What are you doing better currently?
• Where are you lagging?  
• What can you learn from their success and failures?  
• What opportunities can you capitalise on?  

‍

Make a note of your answers above and start turning them into actionable goals.  

‍

4. Action plan for improvements

‍

While comparison is great and all, real change and transformation starts when you take action.  

‍

Create a roadmap of step-by-step tasks that can take you further than your competitors. Whether these actions may be to start a podcast, or to create a trending video, or even to rebuild your entire sales funnel to cater towards a new market, break them down into small steps.  

‍

I find that breaking down projects like these into very small steps makes it much easier to take action.  

‍

Once we have compared ourselves to others, we must not make the mistake of trying to be LIKE them, we must strive to be better than them.  

‍

Don’t just start doing what your competitors are doing, INNOVATE. Take it a step further, find a fresh angle, approach, or a creative solution that will set yourself apart. Remember, we aren’t sheep, we are leaders.  

‍

There’s certainly scope for covering the topic of setting yourself apart from competitors on its own, but I’ll have to save that for another time. My kettle has just finished boiling and it's time for a well-deserved tea break.

‍

But for now, let’s all make a promise to only compare our businesses to others, not our individual selves. You are perfect the way you are, but your business can always improve.

‍

Until next time...  

‍