Theresa Bradley-Banta, co-creator of Big Fish Tops Dogs, is a musician, award winning graphic artist, mentor, entrepreneur, blogger and owner of multiple businesses. You can follow her on twitter @bigfishtopdogs
Competition is winning at all costs…. there is a winner and there is a loser. Right? What would happen if you were to change your thinking about competition? We believe entrepreneurs are competitive but not in the way you may think of competition. This is a quality that has made our top 10 list of characteristics of an entrepreneur, but not in the traditional sense of the word.
Entrepreneurs are competitive by nature
Some entrepreneurs are motivated by winning at all costs. They hate to lose. But consider for a moment some other thoughts about competition. There are many who struggle with the concept of being competitive. Either worrying it is a quality they do not possess or, worse, worrying that they will be seen as a winner takes all type of individual.
Here are some other thoughts on the topic:
Business and industry knowledge is essential for business success. Business people and entrepreneurs know what the competition is up to and they study their marketplace. Having a knowledge of the marketplace can assist you with timing and strategies.
Working with your competitors, rather than against them, can open up a whole new world of joint venturing for mutual success. You can piggy back on the strengths of others and form strategic alliances where both parties win. For example, let’s say you have a great product but no method of bringing it to the market. You can team with another entrepreneur that has a great distribution center but does not offer a product like yours.
Competition can motivate you to bring the very best product to the market. To equal or surpass the marketplace.
Learning how other people see life, how they approach business excellence and knowing how they collaborate with others can assist you in being the best possible entrepreneur you can be.
Killer deal: One half-hour free coachsulting by phone. Contact Theresa Bradley-Banta by email. Offer expires 3/1/10.
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