I was dancing around to Madness’ version of the song Lola and it struck me how many times this track has been covered. Why is that? Are the bands out of ideas?
It got me thinking about business lessons I’ve heard and learnt over recent years.
There seem to be several main ideas around keeping an eye on what your competition does.
There’s the “you have to know what your competition are up to” theory which, quite frankly, involves too much work on someone else’s business. There’s a lot of competition out there. Just how close an eye should I keep on them? You know what is wrong with your business. A little more inward focus and time spent fixing those things may be a better idea.
There’s the “identify what your competition do well/bad and then copy/avoid that” theory. That one sounds quite boring but it can certainly give your new business a kick-start. I remember watching Dick Smith on television many years ago. He was asked how he’d go about setting up a new business. The reporter was surprised to hear him say “I’d find one I like and set up next door”. When asked why he said “because all my customers are already there and I just have to be better than the other guy” or words to that effect. It was a long time ago for my memory to be word perfect, but the theory stuck with me.
And then there’s my favourite theory: “Don’t give a damn about what your competition are up to”. Be it good or bad, why would you want to do the same thing as your competition? How does that differentiate you from them? It doesn’t, that’s how!
Right now “niche” is supposedly where “it” is at. When it comes to being unique this makes sense. Besides, having the competitions’ mode of operation floating around in your head means that, like it or not, you’ll unknowingly start heading down the same path as them. Besides, I don’t believe in competition. There’s plenty out there for everyone so why fight over scraps?
I’ve found it’s easiest being unique when I’ve not been thinking too hard about it. When I am just being me and running my business my way, going with my gut and being playful. Often that isn’t as easy as it sounds. Sure, I have to obey some rules and if I am smart, I’ll continue to avoid some traps with judicious research, but on the whole I’ve found NOT “doing what everyone else does” much more satisfying.
I think I’ll start a band! No, everybody does that.
What do you reckon? Share your unique thoughts on being unique below.
“ I don’t believe in competition. There’s plenty out there for everyone so why fight over scraps? ”