Why You Should Be Thankful For Your Competition


In business, having competition is pretty common. There aren’t many unique businesses out there today, so of course you're likely to have some form of competition. Don’t fret and curse though; you should actually be thankful for your business competition. Not sure why? Read on to find out… 

You’ll Give Better Customer Service 

Competition usually encourages a business to deliver better customer service to their clients. You’re not going to want your clients going to any other business, so you’ll do your utmost to ensure that they would never dream of leaving you. Customer service in business is one of the most crucial things these days; customers want to feel valued and have great experiences with businesses! 

Identify Your Own Strengths And Weaknesses 

You might not have any idea of what your own strengths and weaknesses are until you figure out what your competition is doing better than you. Knowing your business like this, and even your strengths and weaknesses in your own role will help massively!

You’ll Identify Potential Threats To Your Business 

When you look closely at your competitors, you should be able to figure out any potential threats to your business. Are there are strategies or products out there that could threaten you? 

You Won’t Get Complacent 

If you didn’t have competition, it’d be all too easy to get complacent in your business. As you have other businesses to contend with, you’re much less likely to get complacent. You’ll be forced to step outside of your comfort zone and grow when you know you have competition. 

It Makes Things More Interesting 

How boring would it be if we were the only business in our field? It might be exciting for a bit, but eventually, you’d probably get bored. Just like running a race against yourself would eventually get boring, having competition will keep you entertained and busy. 

Validation 

We all want feelings of validation, not just from our family and friends, but from our competitors do. If you didn't have any competition, surely that would be a bad thing? Having competition validates your business idea and shows just how good it is. If you have no competition in a market, you might find yourself with no customers either. 

Learning About Your Competition 

As well as being thankful for your competition, you should also take the time to learn about your competition and use what you’ve learned to improve. There are places that offer this service with their local SEO services so you can really enhance your marketing campaign. You should never try to copy your competition; simply learn from them and figure out how you can improve. 

Don't focus on the negatives of having competition. When you focus on the positives as outlined above, you should begin to feel really thankful for your competition. Look at it with the right attitude and you’ll see how positive having competition can be. 

If you didn’t have competition, you’d be much less likely to take chances and try new things. In fact, you probably wouldn’t be where you are now!





I hope you enjoyed this article about why you should be thankful for your business competition.

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Published by Michael J Schiemer
Owner of Bootstrap Business
Money - Marketing - Motivation
Digital Marketing | SEO | Social Media
Mike Schiemer Builds Better Business

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