Top Reasons You May Want to Thank Your Competitors

Posted by ivanpw under Strategy
From http://www.noobpreneur.com 3409 days ago
Made Hot by: LoopLooper on July 26, 2015 2:08 pm

Little to no competition can be a great way to earn new business. However, a healthy competition can go a long way in improving your brand.

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Comments

Written by Dagmar_R
3401 days ago

Ivan, I would add one more reason why you need some competition: you can cooperate with them. There are some situations in which it is better to join forces than to compete. We see this in the automotive industry. They often form alliances for joint R&D projects which would be too expensive and risky for one business alone.

Small businesses can do the same. For instance local businesses can cooperate to compete against national players (e.g. in retail). For bloggers, cooperation with other bloggers in their niche is vital too. The best example is guest-posting which is a win-win-situation for both sides.

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Written by lyceum
3406 days ago

Ivan: I agree with you. I have a good overview of "colleagues" in the social media "bubble"... ;)

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Written by iamdurga
3406 days ago

Hello @ivanpw,

Sometimes without competition we start repeating the same thing and hesitate to try new techniques towards the development. So, better to stay in the competitive world.

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Written by ivanpw
3406 days ago

Agreed :)

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Written by lyceum
3407 days ago

Ivan: I don't think about competitors, so I don't know how to thank them! ;)

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Written by ivanpw
3406 days ago

Martin,

I never thought about competitors, too - however, I started doing so because I do need to have someone to benchmark to.

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