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Handling Competition in Business: 5 Mindset Shifts You Need To Make

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I still remember the sudden flood of texts and emails.

It was November 2013 and Google had just announced “Helpouts”.

My friends, advisors, and investors all thought it was the death knell to my company, Clarity.fm…  and thought it to be their duty to let me know.

Fresh off TWO successful exits, I was no stranger to competition and had become resilient in focusing on “me” while tuning out the noise.

But when a 100 billion dollar giant comes thumping into your backyard, you tighten up and take notice.

I had a choice.

I could wave the white flag (no thanks).

I could fight back with all I had (not my style)

Or I could lean into the 5 mindset shifts that I cover in this week’s episode.

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At a high level, here are the 5 mindset shifts you need to make to deal with competition:

  1. Work backward
  2. Learn, don’t distract
  3. You do you
  4. Life supports those who support life
  5. Attract what you put into the world

It took all 5 shifts to successfully overcome the Google threat.

But 2.5 years later after the announcement was made — Google abandoned the project and Clarity.fm, the undisputed leader in the space, was sold to startups.co

I didn’t “win” by outcompeting Google.

I won by “being 100% me” and staying true to my customer and their biggest needs.

And I invite you to do the same.

If you’re feeling the sting of competition, give this episode a watch, and then let me know in the comments what you plan to do to stay focused on you and your customer.

 

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The SaaS Metrics Dashboard: Is Your Company Growing The Way It Should Be?