According to most dictionaries competition is “the activity or condition or circumstance of striving to gain or win something by defeating or establishing superiority over others”. It goes without saying that there will always be competition in business but having competition is actually a good thing. It means that you are constantly looking for ways to innovate and strive to do better, without competition this world would become a very dull place, there’s nothing worse than only have one option when we’re looking for a product or service. Competition feeds variety and it also gives consumers choice however competition can also become a distraction if we only focus on what our competitors are doing. The main purpose of this video is to encourage business owners to look beyond competition as a negative factor. Some people get so caught up in worrying about what others are doing that they forget about what they should be doing to improve their own business.
I believe that you can use your competition to motivate your own business goals and encourage you to do better rather than discourage you from thriving. Not worrying about your competition doesn’t mean that you should stop caring about them it simply means that any competitive comparisons should focus on tangible change that lead to improvements and growth. If you keep worrying about your competition will you do the things that you need to do in order to grow and innovate? There is more than enough abundance in this world for all of us to succeed. Just because others are doing something doesn’t mean that you should stop yourself from moving forward. Worrying is simply a way to rehearse all the bad things that could happen without working on a solution. You should worry less and focus more on what you can do to improve your business. You can use this principle in other areas of your life to like work and of course in sports. Sports champions focus on their performance, that doesn’t mean they don’t care about who they are competing with it means that they use their competition as fuel to do better. Try to think of your business in this way – you can beat your competition but even you don’t that doesn’t mean that you can’t still be great.