Today’s Brain Fart: “You’re always in a race!” - this statement has been ringing in my head since I heard it yesterday!
You’re always racing against competitors, both known and unknown!
Alistair Lang, a partner at Thornton’s Law (and an all-round great guy!), delivered a very enlightening legal seminar to the new businesses in one of the Business Incubators we run. And during the session, he dropped this knowledge bomb, along with many other astute insights: “You’re always in a race!”.
Are you having cashflow challenges? Problems with your product prototype? Difficulties working out exactly who your customers, are and what their pain points are?
You better figure these out quickly because there are other people working on an idea similar to yours! They may near-by or in a different country. And just because you can't see them doesn't mean they don't exist. They do!
So whilst you go off and chase shiny things, pursue other distractions and enter “business competitions”, someone else is working hard on beating you with the same idea!
Others may take you by surprise. And they may take you out, before your idea is given enough chance to grow!
They could have a better team, better marketing and more resources than you. How are you going to compete with that?
Focus on the finish line, ignore the spectators (and the streaker that has just run on the track in front of you!), keep hydrated, keep your energy up, breathe properly and keep going forward. Iterate quickly and pivot if you need to.
Hurry up though, your competitors are right beside you. Never forget, you’re in a race!
Kallum with a K