Ask most any business owner or manager about their competition and they are likely to spout off a litany of criticism and complaints about ‘those other companies’ and probably particular rant about one rival in particular. Entrepreneurs who take the high road and conduct themselves with dignity may not tell customers what they really think of their competition, but you can bet that privately they can list every shortcoming of their fiercest competitor. In fact, in certain industries – where the fight for market share or even survival is most fierce — C-O-M-P-E-T-I-T-I-O-N is the longest four-letter word in the English language. Just ask anyone who works at Mac about IBM. Lays Potato Chips vs. Doritos. Harvard vs. Yale. Coke vs. Pepsi. They don’t call it “the cola wars” for nothing.

Most organizations think of competition as the unavoidable and most unfortunate evil of doing business. There probably isn’t a business leader alive who hasn’t thought, at least once, ‘If only my product or service was the only game in town.’ The thought is that doing business would be paradise were it not for competition… or a particular competitor. After all, while competition may be great for customers – offering choice and driving down price — it is really nothing but a pain for business owners. Right? Wrong. The truth is that competition is the best thing for any business. Continue reading →