I read a very short blog post, written by Michael Wade. The title summed up the post quite nicely: “Let us Thank our Competitors.”I strongly recommend you all visit this post and read it: Let us Thank our Competitors. It is short, don’t worry. I would then recommend reading all the comments below. It is very insightful to find how many other businesses value their competitors for some reason or other. You will even find a comment from yours truly.I decided that this idea of competition merits a bit more of a contemplation.Wade believes that our competitors bring value by showing us our flaws and encouraging us to continuously provide our best because if we don’t our competitors will beat us. I believe that we should continuously be searching for our own flaws in order to fix them and offer our customers our best because that is the mark of a superior company.In a comment that he wrote below this post, he also mentioned that “if we didn’t have competitors, we’d have to invent them, or we’d become slugs.” While this is undoubtedly true for many folks out there in the business world, it is too depressing to contemplate and I would prefer to believe that any of you pro-active enough to be reading blogs about bettering your business do not need such negative motivation to keep you from becoming a drooling, oozing, sloth-paced, worm-like creature.My comment sounds more like this: if you have competition, than that means that the product or service you offer is worth imitating, duplicating, improving or otherwise competing against. Therefore, your customers will see value in your product or service because other companies obviously find your product / service smart enough to want in on your playing field.Another realization that is depressing when you think about it, but undoubtedly true, is the fact that people want what other people want. Just like sheep, we all flock together. If no one is imitating you, why should your customer want what you’ve got?Competition is a value in and of itself. Not to mention we live in a capitalist society built on the foundation of competition. If you live in North America you should fairly idolize competition, so why do so many people cry over the injustice of someone “stealing” their business?If you are losing your business to a competitor than you should figure out why. Once you have discovered that they are beating you on price, proving a superior product, offering better service or whatever the reason may be, MAKE YOURS BETTER.Competition breeds quality which is a wonderful, fabulous, and very important part of our business world. As a customer, you want the best product for your money, right? Well, as a provider you better be willing to offer the best product for the customer’s money.As far as I’m concerned, when I hear people whining about competition it’s usually because they are too lazy to win back their customers. You can’t get something for nothing!I hope you enjoyed this tough love session and I wish you the best of luck—yes, even you, you competitors of mine!
Agree for sure, especially with “if we didn’t have competitors, we’d have to invent them"
In my area and biz, when there hasn't been competition, the interest in joining or creating buying groups spred like wildfires!
Excellent observations, Monique! I agree wholeheartedly that competition drives improvement. You don't have to worry about anyone becoming a slug, however, because even if all your "living" competitors go away, you still have "inaction" and "indifference." Those, too, will compete for the prospects' share of mind and wallet.And unfortunately, they often win!
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In my area and biz, when there hasn't been competition, the interest in joining or creating buying groups spred like wildfires!