How to Love Your Competitors

They’re good for you – really!

A Post by Red RobotPublished July 22, 2016

Believe it or not, your competitors are actually good for you. Really they are! Think about it – if you had no competitors that would mean that

a) What you are doing isn’t really valuable or profitable enough for other people to want to do it as well

b) You are the first one doing it and in which case you will have competitors very soon!

So they are really a weather vane that let’s you know that you are on the right path. Of course, your sales numbers should be telling you that first but your competitors are more like an added incentive. They push you to do better and improve what you do.

So when you are placed in a sea of competitors, the natural expectation is that you need to stand out to gain attention, and ultimately make the most money. But in your quest for success, novelty isn’t so important as great strategy and delivering value. History has told us that it’s not the most novel or exciting companies that win the competition war. Just as McDonald’s won the burger war, Coke won the cola war and Google won the search war, it’s the companies with the best strategy behind them that last.

Focusing on better strategy, smarter pricing models, and most importantly, efficient and professional Photo Booths and systems are some of the more important foundations that let you stay on top of your game so that you can focus on innovating. So be grateful that you have competitors and use them to help you stay focused on the important stuff.

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