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Opinions expressed by contributors are their own. During a recent conversation with a fellow cyclist and entrepreneur, Wayne Smith, I learned how a fitness app made him a better and more focused entrepreneur. How so? He explained how measuring yourself personally can lead to rewarding successes in business.
Wayne shared, “Many years ago, I downloaded the Strava app to record my mountain bike rides. In the beginning, it allowed me to check my progress on my local trails, but over the last few years, it has taught me some important lessons on entrepreneurship.”
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Wayne explained that the app geo-tracks him on his trail rides and compares his times to other users, creating a leaderboard. Like many other fitness apps, this allows you to compete with total strangers.
So, what does that have to do with entrepreneurship? Wayne told me, “From my perspective entrepreneurship is a ride that involves dedication to solving problems, success/failures and lifelong learning. Entrepreneurship requires constant self-reflection and drive. The competitive nature of the app inspires competition between random strangers. Just like in business, competition creates the need to raise your game, put in the work and innovate so that your company or product can stand out in your market.”
Wayne says that after a day of taking the number one spot on the leaderboard, he was knocked off. “The man who defeated me that day had nearly 100 more rides than I had completed the past year. He had put in the work and likely wouldn’t be giving up anytime soon. This motivated me to work harder and smarter.”
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Your competitors will put in the work and if they invest more focus and effort to problems you are mutually trying to solve, the market will reward them, Wayne told me.
So whether it is a fitness app or a business, remember to always measure results, understand what they mean, and work to get better each time you go out.