Be a creator not a competitor

We all have a competitive stake in our makeup, some more than others. To be a creator does not mean you can’t be a competitor but we need to think like a creator. We look back to see what our competitors are doing and how we can be a better option for our customers (over our competitor). Some of us without knowing it may already be creators “A competitor puts their ideas aside, a creator acts on them” Amy Wilkinson author of “The Creator’s Code” strategic adviser, entrepreneur and lecturer.

According to Wallace D Wattles author of “The Science of Getting Rich” the money we make from being in a competitive business will eventually leave our hands and fall into the next competitors hands and the cycle goes on.

How to be a creator

Nearly every business is in competition unless you’re in a monopoly environment but even then there is still some type of competitive pressure. So how do we be a creator in a competitive environment?

We need to change the way we think about our business from being a competitor to a creator. The mind frame of a creator is that if you sell a product/service for $X then you need to provide that customer with 3x, 5x or 10x the value of the cost of that particular product or service therefore your cost becomes free or better still, creates value for your customer. A perfect example of this is software companies selling their software to save their customer valuable time.

If a builder was managing the cost of their job using spreadsheet after spreadsheet and the time spent on inputting the data into them was significant, then a software company could create a product to save time therefore create value for the builder. For argument sake let’s say the software costs $50 per month but it saved the builder on average 5 hours per month. The builder normally charges $60 per hour, if we said that the builder could charge the 5 hours he has saved using the software per month then the builder would get the following result: ($60 x 5 hours) / $50 = 6x. The software company has allowed the builder not only to recoup their cost of the software of $50 per month but they have also allowed the builder to create up to 6x the value of the cost of the software, this is called a creator.

Accountants

I continually strive to help clients, colleges, family and friends in their businesses or with their personal finance or goals. After learning the concept of being a creator not a competitor this has allowed me to start challenging the status quo and my beliefs. The continual pressure on reducing the price of processing tax returns and financials has to make us change our thought patterns and to think creative. We need to enhance the use of technology and create better systems to reduce our time spent on completing those projects that could be completed quicker using technology.

I can understand the frustration of clients, when they get an accounting bill at the end of the year and all we have completed is their compliance work, i.e. lodge their tax returns and complete financials. We haven’t added any value for the customer and therefore have not been a creator. Certainly this is our core business but unless we have been able to save the client some tax through planning or strategies than we have not added any value to their overall position. We are not being a creator, we are being a competitor.

I continue to develop myself and learn everyday ‘to be better tomorrow than what I am today’ so that I am prepared to help my clients, friends, family or colleges to succeed in their businesses, personal finance or goals to help create that value of 3x, 5x or 10x so that our cost can be recouped by the customer.

Supply

Wallace D Walters believes as he mentions in his book “The Science of Getting Rich” if our minds are concentrating on the lack of supply in the market for our products/services, then we are thinking in a competitive mind frame. We need to change the way we think, we need to start thinking of abundance and creating value. If we can create the value for our customers then this will attract other customers to our business.

I know this concept may seem “fluffy” but in this age of knowledge we need to continually be self-learning so that we can create opportunities for ourselves and others. We need to be able to grab those opportunities with both hands in order to succeed.

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Opportunities for others

“For the person who is a competitor, they climb the ladder then once they reach the top they kick the ladder out from underneath them so no one else can climb it. A creator on the other hand helps thousands up the ladder” Wallace D Wattles.

When we become creators we create opportunities for ourselves and if we continue to be creators then we also create opportunities for those around us. This is what inspires me to continue to create, think of new ideas, and to be passionate about my work. One of the reasons most people get into business is for this reason, so they can create a better lifestyle for themselves but also for those around them.

Bringing it home

We need to find what we are truly passionate about, if what you are doing is what you are passionate about then that is awesome! But maybe you are in need of some inspiration on how to continue to be a creator not a competitor? It is important that if we are in business to be thinking about the future, continue to learn and to plan.

If you need any assistance with a business/customer/strategic plan or getting your business or life back on track or just some fine turning, please contact me to organise a no obligation free consult.

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