FBC – 70 – Keep your competitors close…

Keep your competitors close.

Today we are going to discuss how you should handle your competition. The answers in this podcast might surprise you because they go against common belief.

I wanted to talk to you about a misconception that we all have because of the way we've been brought up and because of the school and corporate system that actually changes once you get into the entrepreneurship world.

So the reason why I said that there is this misconception is because of your relationship with your competitors. So basically usually your competitor is your worst enemy. You hate their guts right. I remember when I was working in a company, we were like trained to hate the people who work at some other company.

And when you think about it it's just you know people exactly like you. They have a work contract but they’re just with another company right. They're doing the same thing you're doing. There's no difference. But somehow, we make like a big fuss about it and competitors absolutely hate each other. It’s the same on television.

Do you remember the epic battles between Coca-Cola and Pepsi and stuff? They hate each other. You have the commercials just slandering one another. It's crazy, right?

Keep your competitors close.

So you think that this is how you should treat your competitors and when you look at it when you think about it, my friends Connor and Ellen are my competitors. They do the same thing as I do, but it doesn't mean we have to be enemies. And on the contrary we're actually collaborating to help each other grow mutually. And that's the message that I want to give you today.

You should actually collaborate with your competitors they are putting the same hours as you in the same grind. They have the same challenges and stuff. And you know just for that fact you should respect what they're doing. You know instead of like hating them or something. You're in the same boat.

And this is someone who knows exactly all the hurdles and all the work you put in. And I realized when I arrived here in when I started working in this industry that a lot of people will collaborate. So this whole system of affiliates. I mean affiliates are people just collaborating together.

For example, if you promote my offer to your list then it gives me access to new people and I'll do the same thing for you. So the lists are going to mutually grow and these competitors meet very often at masterminds conventions, where they get together and talk about secret strategies and stuff.

So they're obviously not going to tell you everything right. But they will teach and train one another how they're doing this and what kind of funnels they use and what worked and what didn't work and all that stuff. It's a valuable lesson that you need to understand. If you work in this business you should collaborate with other people. Because even though you're talking about the same thing, it's very rare to find someone who has the exact same angle you have.

And also you have all these Instagram influencers and they all work with one another. This is how they grow their accounts. They grow accounts by doing shout outs.

So there's this guy Paul Logan Paul example. This guy is a writer. And he's working with some big names and he's making a killing now just because of that. Just because he understands that you need to work with your competitors. OK. I mean there are seven and a half billion people on this planet. I mean there is business for everybody. There’s a chunk for you right.

Understand this. And secondly as I said they will have a different angle. They're not you. You have a specific way of expressing things. And you have your own story. You have your own little word that you've created in your own community. OK. So not everybody works online is your competitor. So instead of fighting on this stuff, you can regroup and share some tactics and stuff to help one another grow and exchange favours.

And I've met so many people and learned so much from them. I learned about Instagram automation and stuff. Do you know people who could do stuff with Instagram? Because I met this people and they were more than happy to share that information with me. They're like “oh well you need to do this thing to do that, you need to get this service here and this service there.

This is how you fix this problem”. And it helped me. And next time I have something that can help them I will definitely just spontaneously contact them and say “Dude I have this for you”. You know what I mean? So yeah. That's the lesson for today. Don't work against your competitor, especially in this business.