Last week we talked about your special sauce and how it helps you stand out from others. This week we’ll continue the conversation and talk about the C-word: competition.
Also! I’m announcing something pretty big later this week and I want you to be the first to know. Keep an eye out for an announcement!
As soon as we got on the phone, I could tell she was in a funk.
One of my clients, a leadership coach, was browsing from one website to another. Then she saw it.
“I came across another competitor. I know it’s not a big deal, but it just makes me feel like I shouldn’t even try.”
This woman’s site was similar, her messaging was similar, and even though they lived in different cities, it hardly mattered since both of them worked with clients anywhere.
And now my client was bummed out.
I reminded her about her special sauce, that unique mix of experiences that make her uniquely suited to serve HER clients in HER unique way.
I assured her that when you consider her special sauce, there really is no competition. But she was inconsolable.
So I made a last-ditch effort. I resorted to math.
Here's what I shared with her.
Let’s say you’re a leadership coach working with women executives who are Vice President level and above.
And let’s say there are two million people in your ideal target, who need leadership coaching. This is probably far below the actual number, but for the sake of argument and round numbers, let’s go with this.
And let’s say that half of those are women.
So there are 1,000,000 women who need what you do.
Let’s say you work with just one-half of one percent of those. So, .5%, or .005.
To be clear, that means that 99.5% of those people are NOT being served by you, they’re being served by someone else (or nobody!).
If you worked with one-half of one percent of your ideal clients, that’s 5,000 people you’d be working with.
And how many clients do you typically work with each year? 20? 40?
It would take you over 100 years to serve all of them.
And that’s just one half of one percent!
Here’s my point: there’s enough to go around. The competition you’re afraid of? It doesn’t exist.
And if you find yourself feeling afraid, try the competition math technique. It’s a great way to take the emotion out of competition entirely.
But these numbers lead me to some important questions.
How many of those clients DO you want?
How about in the coming year? How many clients do you want to take on in 2018?
How much money do you want to make? And what’s your plan for getting there?
Instead of worrying about how many clients your competitors are getting, I urge you to focus on what you can control: your business, your clients, and your plan for making the money you want to make in the coming year.
And speaking of plans...
Stay tuned for an announcement later this week. Something really exciting is coming, and I want you to be the first to know!
To your success,