Five Stupid Peter Principle Mistakes Your Competitors Make

You’ve heard of the Peter Principle, right? It holds that within a business or profession, an individual rises and is promoted until they reach their level of incompetence. The sound of this career path resembles a paraphrase of The Little Engine That Could:

I can do this!
I can do this!
I can do this!
I can do this!
… I suck

The key in business – heck, the key to life itself – is to keep doing the things you’re good at, and getting someone else to either teach you or do for you the things you’re not good at. So here are the five frequent mistakes your competitors make and you need to avoid.

  • Over-estimating their expertise – What kind of marks did you get in secondary school English? Or, what sort of comments did you receive on your post-secondary papers? If either were spotty or negative, why do you think that you can now write the Content for your website?
  • Preaching to the Choir – The key to a profitable business practice is growth. Once a business stops attracting new clients, it starts to die because existing clients retire, move on, or eventually literally die. So is the language of your marketing tools friendly to people who may not know much or anything about what you do, or is their language so jargon-heavy with insider references that – bluntly – no one knows what the hell you’re talking about?
  • Living in the Past – Let’s say that you built a marketing tool such as a website back in 2008. It served you perfectly well then, so why won’t it do n  ow? Well, you know what wasn’t around in 2008? There were no iPhones or iPads. That great website in 2008 may be invisible to both those popular devices today.
  • Trusting Only One Pair of Eyes – Let’s just call this one Arrogance. If you have ever read an indie novel or non-fiction book, you may well have run across inconsistencies, grammatical errors or typos that should have been avoided. They are there because the author did not consult a professional editor. Your business needs an editor who will offer an honest, clear assessment.
  • Looking In, Not Out – Do you look at what your competitors are doing? Do you look at what indirect competitors, such as suppliers or practitioners within your industry, are doing? If we asked you to name three marketing trends in your industry, could you name them off the top of your head and be accurate? Knowing What Was is good, knowing What Is proves vital, but knowing What Will Be creates the map of success.
Five Stupid Peter Principle Mistakes Your Competitors Make was last modified on: April 28th, 2017 by Mark Smallman