So I’ve spent the past few days re-working my business plan for the Satori Method – my new online health and fitness membership website.
One of the business plan models I’ve been looking at wants me to address questions such as:
- What separates you from your competitors?
- What factors will give you competitive advantages?
- What do you think your major competitive strengths will be?
I’ve come to the conclusion that it really matters how I answer these questions because unless I have one thing crystal clear – where I am coming from? I’m going to set myself up for failure.
You see I know one thing for certain, when we compare ourselves to others, focus upon what others are doing, get into a mindset of competition – then its becomes an Us vs. Them attitude.
I’m not going there!
This is a very unhealthy way to think and act. Competition, unless it is against your own limitations, just breads more fear and ego-based competition.
The mindset that worked for the ancient martial arts masters also works today. Their practice was built upon the principle of Budo. Budo is a way of training and living that leaves your egoic mind and its fears in the dust. Budo is considered the higher path. This path is one of respect, loyalty, integrity, giving, joy and Love.
For me Budo means it’s not about trying to be better than others, but rather respecting others and helping to building strong bonds and a sense of community.
Budo is about standing behind your actions with integrity. This includes being professional in business and being loyal to your customers.
It’s not about ‘taking’ but rather about ‘giving’ – without always ‘wanting’ something in return – that’s living with integrity.
In Budo relationships are not approached as ‘business arrangements’. Don’t get me wrong, I’m not against having sensible and profitable business arrangements, I’m talking about having a core value system that isn’t just focused on me, me, me.
Budo also teaches us that to be successful, whether it is in business or life, you have to come from your heart – so for me that means its all about about giving and serving others.
When I say giving and serving others I am not suggesting you do this so that they will love you or even think that you are a very ‘giving’ person. From that attitude there’s still ego tendency. I’m talking about being so thankful for all that you have that you just want to share your knowledge, talents, techniques, products, services, whatever … because you are so filled with joy and gratitude that the most natural (and essential) thing for you to do is to serve by giving back.
So I choose not to see my business through the eyes of competition and the ‘get your piece of the pie before its all gone’ attitude. This is an abundant Universe and there is plenty of good stuff out there for everyone.
If a person (or business) were to build themselves upon these principles – respect, loyalty, integrity, joy, and Love, well they would never experience selfishness, competitiveness, self consciousness, greed or lack.
Bottom line, living Budo is all about finding that inner-joy and then living and expressing life from there.
I just had to share what came up for me while re-working my business plan. It helped me to get really clear on what is important to me :-}
I love sharing the things I’ve learned from the martial arts, meditation, and my personal experience of life. That is what the Satori Method is for me, a way to offer incredible health and fitness programs, mindset techniques, and stress relief tools – because I’m grateful for all that I have been given and I want to give back.
So if my ‘competition’ needs a hand, I’ll be glad to give it. That is what my competitive advantage and my competitive strength will be … truly though, in Budo we have no competitors or enemies :-}
I think I’ll put that in my business plan.
Till next time,
Tristan
Click on the comments button below to leave your response
Sensai-
I absolutely and completely agree with you. Almost all business consultants, magazines, online trainings, and the general entrepreneur community focuses on sizing up your competitors when devising a business plan. The Unique Selling Proposition (USP) is the number one focus because it includes those 3 aspects of competition you mentioned.
Not only is it highly stressful to build your business against your “supposed” competitors, it takes the focus off the clients you are trying to help grow in body and mind. If our minds are concentrating on “the other guy,” we have lost the true meaning behind being spiritual beings: helping others improve their lives and discover their life purpose.
In essence, you are probably one of the few business owners in this field that understands and lives by these truths. Thanks for reassuring me that there are others out there that follow this truth! And you can help me out anytime you’d like and vice versa! Pro bono of course!
Anything can get out of hand when it’s taken to far. The USP concept is very important and yes, how you answer those questions in your plan OR at a networking event is very important. As is a SWOT, and simple to do.
What’s unique about you that you bring into your business is one I’d add to your list.
And knowing what your competition’s USP is, is also important. At times, I’ve sent people who werent’ good clients for me to them.
But when you focus to much on someone else’s business, just as you focus on something other then your own driving when you’re driving; you’ll be pulled in that direction.
Well said Maria.
I have spent years and years uncovering, clarifying and then reinventing my USP.
I agree, it’s very important to know who you are, to have clarity about what you’re offering and to truly know who your customer is.
The one area I see so many entrepreneurs fall down is in worrying too much about their ‘competition’.
In Budo there is no competitor. That is the nature of the egoic mind, to always see an opponent.
This way of thinking is usually a huge paradigm shift for the western mindset. It’s an us vs. them mentality.
The bottom line for me … know where you are coming from – Fear or joy? Scarcity or abundance?
Know about the other companies in your industry, but forget about the idea of ‘competitors’.
Tristan
P.S. To take USP to a whole new level of clarity try reading Mark Joyner’s book, The Irresistible Offer. In my opinion it can completely transform anyone’s business.