Elbows down.
There’s a ‘No Jabbing Allowed’ rule in this post arena.
Because as it turns out, your biggest competitors can actually help you.
(So stop obsessing over their Twitter updates, product reviews, and Instagram pics already.)
I’m not saying you need to exchange matching friendship bracelets.
I am saying that you should treat your competition like an asset, not an obstacle.
For example, back in my Mint.com days, we invited Scott Cook (the founder of Intuit) to join our advisory board.
We sent him the invite, despite the fact that one of his first products, Quicken, was in direct competition with our product.
Scott’s presence on our advisory board gave us a TON of credibility, not to mention he offered priceless advice and guidance along the way.
And when it finally came down to acquisition talks, Scott helped us seal the deal.
Bada bing, bada boom.
Competition coalesced into collaboration.
If we’d been too proud and stubborn to invite one of our biggest competitors to the table, who knows where we would be today.
So tell me (and be honest with yourself), how competitive are you on a scale of 1–10?
If you’re a 5 or up, you can’t afford to miss today’s video lesson.
After working with 100+ startup founders — from around the world — over the past 2 years as an Entrepreneur-in-Residence at 500 Startups and now as the lead Mentor-in-Residence at Techstars NYC, I’ve seen a decent amount of mistakes…
In today’s video lesson, I’ll reveal the top five mistakes founders make when it comes to competition.
HINT: one of ’em has to to do with trying to woo your competitor’s customers. Whatever you do, don’t do that. It’s a waste of your time.
By the time you’ve finished this video, you’ll adore your competitors … and maybe, just maybe, you’ll feel grateful for their presence in the marketplace.
After all, if you don’t have competition, you don’t have a business.
And don’t forget to take today’s GROW IT CHALLENGE after you’ve watched today’s free video lesson.
Love thy competition…
Get more lessons, including individualized feedback on your product by signing up to participate in Grow It’s Introductory Series here by August 31, 2016.
