Networking: how to handle competition
- Oct 20, 2011
Want to get ahead in business but hate the idea of networking? Here's an entrepreneur guest blog on how to deal with direct competition when networking...
Business is challenging. At networking events it can be especially daunting for some people if your competition is there charming potential clients.
However, it doesn’t have to be a negative experience if you can harness the power of understanding your competition. You may even find that they can be your best friends in disguise.
How you handle your own reactions, plays a big role in how well you handle your competition. So, what’s your initial reaction when introduced to your competition?
• Does your heart sink, and along with it some of your confidence?
• Do you deliberately ignore them? Or worse, try to impress them with your vast knowledge to make yourself appear superior?
• Do you follow their every move, scanning the room to see who they are talking to?
• Or do you come on extra forceful to potential clients in an attempt to make sure you get to them before your competition does?
If you do any of this, it could make you appear less confident, disinterested, pushy, or desperate, and your communication with others may suffer. In turn, this could make potential clients shy away from you and possibly not want to do business with you at all. You certainly don’t want that, and it’s no way to build rapport.
Your potential clients want to buy products and services from confident, attentive people who take a genuine interest in them - someone they can trust, and ultimately someone to help them solve their challenges. You can’t do that if you are too busy focusing on what your competition is up to, so ensure your main focus is on developing rapport and building relationships with potential clients and business contacts.
However, there will be times when you are introduced to your competition, so if this does happen, what is the best way to handle it? It will depend on what type of competition they are. They will fall into two distinct categories - direct and indirect. Here is a guide to handling direct competition...
If they are your direct competition (those who offer the same services/products to the same target market e.g. two residential real estate agents targeting high end vendors/purchasers in the same local area) then should you feel threatened by them?
Not at all, the best way to deal with direct competition is in a healthy, mature, and professional manner. Treat them the same as you would treat anyone else - by being polite, friendly, and respectful. Act confidently, knowing that there is plenty for everyone, that not everyone in the room is your ideal client anyway, and trust in yourself, and your product or service.
Direct competition can be a good thing, because it stops you from being complacent, helps you to strive to improve and lift your standard, and be innovative, creative, and mindful of always giving good value to your clients. You may just be able to learn a thing or two from them as well.
If you change your perception of your direct competition so you see them in a positive light, it will give you more confidence, and others will respond to you more positively because of that confidence.
And always remember to ensure that your main focus is on building relationships and adding value to potential clients and business contacts to your business success.
Look out for part two of this blog - how to handle indirect competition.
Nicole Murray helps business owners to get things done. She is a Business Productivity Coach and Business TV show co-host. To find out about being more productive in your business, visit Nicole’s website Hot Chocolate Coaching www.hotchoc.com.au
Image by The DEMO Conference on Flickr
Please note: The content of this post is intended as general information only. Always obtain professional advice to suit your individual circumstances. The author does not take responsibility for any loss of any nature or kind occasioned to any person or organisation acting or refraining from acting as a result of the information contained in this post. This guest blog complies to Virgin.com terms & conditions.
