Holicent
VIP Contributor
Having competitors is a natural part of business. In fact, it's probably more important than any other factor in the success of your business.
But what does having competitors do to your business?
Here are five ways having competitors can benefit your business:
1. It keeps you on your toes. No matter how successful you are or how much money you make, there will always be someone who is better than you at what you do. That's a good thing because it means that people will still be looking for something better than what you have to offer. It also means that competition doesn't just mean better products or services; it also means better customers and more satisfied clients.
2. It makes it possible for everyone to get ahead together. A great example of this occurred in the 1980s when IBM introduced its first PC computer into the market with a $7900 price tag. The response was overwhelming and soon rival companies were offering similar computers at even lower prices than IBM's original offering.
But what does having competitors do to your business?
Here are five ways having competitors can benefit your business:
1. It keeps you on your toes. No matter how successful you are or how much money you make, there will always be someone who is better than you at what you do. That's a good thing because it means that people will still be looking for something better than what you have to offer. It also means that competition doesn't just mean better products or services; it also means better customers and more satisfied clients.
2. It makes it possible for everyone to get ahead together. A great example of this occurred in the 1980s when IBM introduced its first PC computer into the market with a $7900 price tag. The response was overwhelming and soon rival companies were offering similar computers at even lower prices than IBM's original offering.
