Tuesday, 21 December 2021

How do you protect your competitive advantage?

 

I once had a discussion with a friend about why some people tend to be protective and defensive about their knowledge and contacts, while others are willing to share and give. Some supervisors are unwilling to teach their subordinates, for fear that these subordinates will overtake them. Some people guard their client lists like national secrets, fearing others will steal their clients from them. Others happily recommend a client to a competitor who can do a better job at what the client currently needs. They share good advice to help others improve, without worrying about losing their own competitive edge. 

The difference is not due the former lacking in resources or struggling to survive. Those who are generous are not necessarily people who are rich and have a great surplus. What makes the difference is the abundance mindset. Some people are willing to share and give because they believe there is plenty to go around and there is no need to hoard. It is these people who eventually gain more and more, through the trust, friendships and synergies they create. Thank you, Danny Ng, for this insight you shared with me. 

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