Three Business Traps to Avoid
In this video I am going to be telling you three things that might be hurting your career.
Read the Article by May Busch here: https://maybusch.com/3-traps-that-make-life-stressful/
May Busch YouTube channel: https://www.youtube.com/c/MayBusch
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VIDEO SUMMARY
I am going to highlight a recent article I read by May Busch. She is a career coach and former COO of Morgan Stanley Europe. She also has a YouTube channel, so I will link that in the description below. I read an article that she wrote. It was so well-written and so on-point, that I had to share it with you in this week’s video. She wrote about the three traps to avoid for success in all career stages. Now she is writing from the perspective as a career coach. But I think this is broadly applicable for business in general.
She describes the three traps as the three C’s: Comparison, Competition, and Conflict. I want to take some time and go through each one of these traps.
The first one is comparison. Do not compare yourself to others. This is so hard in the day of Instagram, when you look around and see other business people out there who are laughing, and partying on yachts. Meanwhile, you are sitting there struggling to make your business work. Don’t compare yourself to them, because first of all, everything on Instagram is fake. It is not a fair comparison anyway. Second, it is just making you feel bad about yourself which is not helpful. It is better to focus on your own situation and take joy in your accomplishments.
Second is competition. Avoid situations where you pick a target and compete directly against them. Usually those situations just end up in price wars, and you do not make very much money. Most of the time, it is just not necessary. The global economy is so big and complex, you often don’t need to do the exact same thing as your competitor. Instead, do something a little different. Then no one is competing against you. Find a niche that is unique to you. If you are not competing against anybody, everybody gets rich.
Third is conflict. Avoid creating conflict. In business, you will be working with people who you disagree with on things. If you feel yourself getting upset, try to take a step back from the situation. Sometimes it will be necessary to take a stand for what is right, but a lot of the time, it is not necessary. It is better if you can navigate those situations without creating enemies.
Those are the three traps to avoid: Comparison, Competition, and Conflict. Thanks again to May Busch for writing such a great article.
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Neither Zach De Gregorio or Wolves and Finance shall be liable for any damages related to information in this video. It is recommended you contact a CPA in your area for business advice.