Your competitors aren’t important. Just hear me out on this. You have created a firm that is unique to you, your clients, and your employees. You’ve built a culture of your own. You’ve found a niche in project types. No one can replicate what you’ve built or created in a firm. Each firm has their own unique set of traits and characteristics. Yes, design and construction firms are similar overall, but there are still variations that set each one apart.
Knowing what your firm is today. Knowing what you want your firm to be tomorrow. Knowing how to get there. These are more important than knowing your competitor’s every move. Use your energy to move your firm forward. Use your talents to focus on making your firm better for your clients and employees. Your competitors are still going to do what they are going to do. Seeing your competitors at industry functions or hearing about them in the news is fine, but don’t spend an excessive amount of time focusing on their strategy or focus.
Focusing on your firm’s strategy, goals, objectives, and clients is WAY more important and will give you a much better return on your investment (i.e. time). This sounds like a much more productive way to excel your company forward. Take the time to invest in the relationships you have and the relationships you want in business. Focus on building on your culture and what it stands for. All the great things you are doing in your firm take time, money, and talent, so work on those within your firm and let your competitors do their own thing.
Now, I’m not saying put your head in the sand. You need to educate yourself within the industry in terms of trends (e.g., technology, pre-fabrication, etc.), where the industry and geographic markets you serve are heading, and what recruiting and retention tactics are out there to hire and keep the best talent. All these things affect your firm and you need to have an awareness of them. You must also continually invest in yourself as a leader. Education is an investment that can never be taken away. Knowledge is something you’ll always have.
Ignore your competitors and their every move. Focus on your firm and how you can excel forward, make it better for your clients and employees, and where you want the firm to go. Invest in YOU!