Marketing genius, Gary Vaynerchuk, is super smart, savvy and successful. So, if he advocates ignoring the competition and concentrating on ploughing your own business furrow, it’s worth taking note. Not least because you can spend too much time OFF your business checking out the competition rather than spending a solid amount of time ON your business and ON your own marketing.
In this #AskGaryVee video (Episode 48: 1.44 – 3.29) from 2014, Gary addresses the question, “How much, if any, time should be spent on your competition. Or should you just be focused on making your own path?” …..
His answer: He spends all of his time on his own business, own marketing and own people. Yes, he is aware in a contextual sense of what his competition are broadly up to by keeping an eye on headline updates but ‘he never goes deep’.
In fact, “the biggest mistake for your business is looking around”, Gary advises. Businesses need to take care of their own domain and move full steam ahead doing that with no side distractions. That is the only way to win, he says. .
In a further twist, Gary ‘flips’ the concept of being super alert about the actions of your competitors. In his view, not paying attention to your competitors reflects competitive advantage rather than any form of weakness!
And you can’t argue with someone whose marketing and business-building skills are stratospheric!
Ignore the competition. Concentrate on marketing your own business. Full steam ahead!