“Comparison is the thief of joy.”
(image via @jacksonk10 on Instagram)
Here is the audio version of this post. Thank you so much for listening.
As Theodore Roosevelt famously said, “Comparison is the thief of joy.” It can be a thief in business too.
On Saturday, I posted the above image to Instagram with the following message…
“Often when working with small businesses I hear something like this… Well the business down the street is charging this or promoting this or… should I do that? Awesome businesses are created when you define your own purpose, promise, target market, set clear objectives, create a bad ass strategy and execute like a mother … Focus on creating your own kind of awesome.”
It was one of my more liked posts. But this topic requires more time and explanation than an Instagram post. So here goes…
Yes, studying success and awesomeness is important. Learning from the greats, the ones who have consistently shown growth and profitability, the ability to create a strong culture, etc. Having an in-depth knowledge of those who have successfully gone before you, yes, all of that is awesome and important.
However, when we are comparing our business to the one “down the street”, this is where I have issues…
Do you know their business model?
Do you know their strategy & target market?
Do you know their plan?
Do you know their sales?
Do you know their profitability?
Do you know their cost of sales?
Do you know how they are funded?
Do you know how long they will be in business?
Do you know if their clients are happy?
Do you know if their team is happy?