The 50 Cent-Floyd Mayweather feud not only is entertaining but also teaches us a lesson on competition.
It's fair to say that rapper (and successful entrepreneur) 50 Cent has dealt with many adversaries. First he went up against Ja Rule, which resulted in damage to Ja Rule's career. Since then, he's taken on big names like Lil Wayne and Rick Ross. Feuds between celebrities happen all the time, but 50 Cent has made using rivals to his advantage into an art form. Many of his tactics apply to business, a playing field where opponents are always trying to bring you down.
Here are the three strategies you can take from 50 Cent about how to deal with your competitors.
1. Go After Your Top Competitors
Early in 50 Cent's career, he started his feud with Ja Rule. While Ja Rule had a larger following and more resources at the time, 50 Cent was able to use Ja Rule's success as a way to build credibility for himself.
When speaking to customers, don't be afraid to mention why you're an improvement over a top competitor. Your audience will start to think your company is much larger than it really is, giving you instant credibility. Be careful not to bad-mouth your competition; instead state what your company does better and focus more on your service.
The other reason this is so smart: Even if your opponent tries to attack you, he or she will be helping you build more attention and boost your reputation. There are advantages to being the underdog, and 50 Cent has perfected how to exploit those benefits.
2. Focus on Their Greatest Weakness
When 50 Cent started calling out Floyd Mayweather, it looked as though he was facing a tough battle. Mayweather is not only one of the highest-paid athletes in the world, but also one of the best boxers ever. 50 Cent would have an uphill battle trying to argue otherwise. Instead, he focused on Mayweather's weakness, his struggle to read.
When you talk about how you're better than your competition, don't worry about its funding or market share. Study your competitors and look for their weak points. Larger companies take more time to make drastic changes, and their weaknesses are easier to find because of the media attention. Once you've found one thing you do better than your competition, see if it could be a differentiator for you in the market.
3. Use Competition to Motivate Your Team
50 Cent always looks to build allies against his opposition. When he started building his team for G-Unit, he used his battles with other celebrities as a way to motivate his own team.
Warfare is a great way to motivate your employees to work harder and unite against a common cause. When there is a common enemy, members of your organization will focus and develop a lion mindset to take that rival down. Start recognizing members of your team when they steal your rival's customers. Create a culture that encourages competition, and the competitive spirit will bring your company closer. It'll also make the office spirit more fun and energetic, which will help push your team forward.