Competition Does A Business Good

Competition can seem pretty scary when you are first considering starting a business.  When I was first looking at starting a business I attended a seminar held by the local small business admin.  They talked about analyzing the market to check for viability and competition, etc.  Initially I didn’t even take another step because I didn’t understand that competition is healthy for a business.

First of all if there aren’t any competitors there may not be a market for what you are trying to sell in the first place, now that is scary.  Getting to know your competitors will clue you in on the market you are entering, the products that are selling and give you pricing guidelines.

If you take the time to dig around the competition will let you know what kind of people are interested in your product (demographics).  If they are interested at all in knowing what their customers think about them you will be able to determine concepts that work, what needs improving and pitfalls to avoid.

I was given a Wii game for Christmas that I had asked for to help lose the baby fat after I had my son this last December.  My husband and I don’t play golf yet in RL but we took to it pretty quickly in the game form.  At first we were playful experimenters.  Then we became more and more competitive with each other as we became more familiar with the game.  Oddly though as we got better there was a shift in mindset and I realized I was my only true competitor.

Competition should be respected, can be extremely useful, and is necessary to keep a business healthy and growing.  Ultimately though always strive for excellence, there is always room for improvement, and keep growing the way you think and your business will follow.  If you are not in it to win it someone else will be.