Avoid comparisons - life coaching

One of the aspects that can put the most pressure on first-time entrepreneurs is the tendency to constantly compare themselves with the competition or with other entrepreneurs. These comparisons are not only unhealthy, but also unfair. The circumstances in which each business develops are completely different, so you should avoid comparisons and focus on your own results and actions. Your indicators of success are not defined by the achievements of your competitors, but by your personal performance, the management of your company and the specific conditions that influence its progress.

In this guide we will address the importance of avoiding comparisons and how focusing on your own progress and results is essential for business growth.

Comparisons are not fair

The first reason you should avoid making comparisons with other companies is that comparisons are not fair. Every business has grown under unique circumstances, influenced by factors such as market timing, support received, and even random circumstances such as luck. Comparing your business with another can make you lose perspective on the achievements you have already made. If you see that your company's results are not equal or superior to those of the company you are comparing yourself to, you may feel frustrated or discouraged, without knowing the real conditions that led to the success of that company.

Even if both companies are in the same industry or market, there are factors that cannot be measured or compared directly. Therefore, the smartest thing to do is to measure your progress based on your personal results.

Attend to your personal progress

The best way to measure your company's progress is to analyze your own results. Keeping track of your statistics and how your business has evolved is the most effective way to know if you are making progress. It shouldn't affect you if your competitors are performing better as long as your business is improving. What your competition is doing should not negatively influence your perception of success.

Competitor research as a strategy is valid and necessary. Large companies study their competitors to learn what market share they have gained and plan strategies to help them stand out. However, the problem arises when you take these studies as the only measure of your own development. As long as you study the competition without losing sight of your own results and goals, you will be acting wisely.

Study the competition

Studying the competition and comparing yourself to the competition are two very different things. When you analyze the competition, you do it to obtain useful information for your own business. This allows you to plan your strategies with the goal of gaining an advantage in the marketplace.

Studying the competition also helps you identify the mistakes and successes that other companies have made, which can be useful to avoid or replicate in your own business. Learning from the competition, and even imitating some of their processes, is not a bad thing as long as you keep the right distance so as not to fall into the error of thinking that you share the same conditions. The important thing is to understand that, although they may perform similar actions, the results will not necessarily be the same.