Update - Why Competition is a Good Thing

Aug 23, 2021

Nothing shuts down a new and exciting idea…

faster than seeing someone else doing the exact same thing.

No matter how much passion or fire we have for the project, coming face to face with a competitor can make our new course, group program, or membership site feel like the dumbest thing we’ve thought of in a long time.

And while competition can cause us to feel extremely small, it’s not that far fetched that we would feel uncomfortable contending with someone else who’s trying to do some good in the world.

We are biologically predisposed to go with the group, not to stand out from it.

But fear of competition can snowball quickly into emotions like scarcity and imposter syndrome which can not only shut down our side hustle ideas, they can keep us from ever starting up again.

So what’s important as an entrepreneur is to not withdraw from competition, but to see it in a different way.

This week, I’m sharing why competition actually validates the idea for your side hustle and how it can be a catalyst for you to help more people, make more money, and do your best work.