Let’s keep it real: the competition is doing it’s best to take your lunch money every day. Conversely, you’re doing your best to eat away at their market share. There’s no love lost, but is there really a reason you should love the competition? Sure, here’s a list of things that we’ve come up with:
-They help educate the masses on why your product/service is worthwhile.
-Without competition there is no choice or alternative. When there is no point of comparison it is harder to pull the trigger on a purchase.
-More competition = more validation that your offering is worthwhile.
-Innovation and progress occur in competitive environments.
-They may be spending time training a future employee of yours.
-Competitor’s keep your product/service top of mind for everyone.
-You appreciate hearing about their original ideas that now you can put a twist on.
-A competitor’s mess up can open the door for you.
-You should thank the professional competitors for giving your industry a good name.