There are many entities competing for the title of numero uno in almost every trade and industry. This is a constant race, and there can only ever be one winner. Yes, just like the Highlander series.
It is good to have competition. It encourages players to be better and offer better products or services, market more aggressively, and produce more, all for the sake of reaching the top and selling more of what they sell.
It can also lead to competitors cheating (not on their customers as well), stealing ideas from their competitors, lying to discredit other products, or increasing their own sales.
Here you are, an entrepreneur, fighting it out against other entrepreneurs and, of course, with the more experienced players in your field. You must be able and willing to endure the opposition, even if they win. While you may not be the best, there is no guarantee that your company will be the largest and most prominent.
You must have a stable and healthy mindset about how you will face competition in order to be competitive.
These are some bits you can add to your overall paradigm.
They are not so different from you.
You may feel your company is better than others (or worse, depending on how self-esteem issues affect you). It’s not surprising that most people think exactly the same thing.
You should be aware that they may not always respond in the same way you would. You have something in common, and this will help you make informed decisions about how to deal with them.
They are also watching you.
Even competitors that appear to be focused and unaffected by the actions of their opponents are still looking for information. Some are open to industrial/corporate spying.
This is the only way to deal with it: Be vigilant.
You can be in bed with them.
There are many people vying to be the supreme leader, so it’s not difficult for your rivals to form alliances to help strengthen their position. It is essential not to be too cautious about this. Rejecting any advances and isolating yourself from others could lead to you falling behind the rest of the race. Learn to dance with devils and swim with sharks.
Like the tip above, keep an eye out for everyone else.
Know when to lead and when to follow
People who follow the lead of another band will not get far. They’ll always wait for the leader to move. There are also companies that are so proud of their products or services that they refuse to follow a standard that benefits everyone.
Young grasshopper, you must find the middle path in all of this. You need wisdom and experience to be able to choose between following or leading.
Enjoy the Game
This is a celebration of life. It wouldn’t be as much fun without some competition, drama, intrigue, and politics. You will need to make money to feed your family. So don’t forget to ensure financial stability.
It’s great to win, but it’s also fun to play. Get out there, fellow entrepreneurs!
Stacey Thompson works as a writer, marketer, and entrepreneur. She also loves weird animals. She currently resides in San Diego, California, and works with MyCorporation. This service assists entrepreneurs with starting and running their own businesses.