Competition and business

[Trexxxy]

I'm sure a lot of people will agree that competition is good for business.

I believe competition is not good for business at all.

It distracts you from your goals & makes you compare yourself with other people.

What you should do instead is; focus on how best you can serve your market. You'll grow in the process.

Sometimes, you may even make the mistake of competing with people you should be learning from.

And that's why it's really important to focus on your growth.

It helps you appreciate your effort, and even make more progress.

If you compare your own 3 followers to another person's 300 followers, you'll surely not appreciate yourself.

Good things take time, It'll be worth it.
Just enjoy the journey and trust the process

What are your thoughts?

 

[Eyiteepraise]

Competition is good but shouldn't be too much for all businesses. competition sometimes makes a business strategize and plan vigorously on how to improve their businesses. It is also helps customers to choose from alternatives.

 

[Nicklas22]

To become a successful business, you need to find ways to stay a step ahead of your competition. Doing so is often easier said than done, and there's no simple answer to how to beat your competition.

Competition exists in every market.

One likely way to beat your competition is to address the needs of your shared target audience better than your competition can. Ask open-ended questions to find exactly what your customers want while using your products or services.

 

[ranaabubakar263]

The thing about business competition is that it always exists in the business market; you won’t find any field of business where there isn’t any competition. However, some fields are less competitive and the others are more; but business competition in the market is always there.

 

[Abbas ali]

Competition in business is the contest or rivalry among the companies selling similar products and/or targeting the same target audience to get more sales, increase revenue, and gain more market share as compared to others.

 

[kayode10]

Competition in business is good for the growth of the industry. It gives rooms for innovation as you always want to look for an edge over your competitor. Competition also brings about creativity and needs company to think outside the box. A healthy competition is good among the businesses in order to improve the economic of the country.

 

[Yewande]

Competition is absolutely needed for business. Competition helps in bringing out better idea. It help also in reducing price. A business world without competition won't be cool. Price of things will be so high

 

[Ifective]

Competition in business actually will want to make you do better. It means if you have a competing company selling the same product as yours and they just found a way to improve the quality of their product, it is advisable that you find better ways for you quality to be improved in order not to lose your customers to competitors.

 

[FunkE]

Competition and business goes hand in hand, because you can't exist as an island. The important thing to do is to always be ahead of the competition by been innovative and creative. One way of doing well as a business against competition is hiring the best brains and constantly sourcing for info to make you gain advantage. One thing I like as a consumer is competition gives you choices to select from, but I guess for a business it can make or mar depending on how you ride it.

 

[eenya001]

Competition are essential if you plan to be innovative in your business. Competition makes you sit up properly because you know what's at stake if you decide to slack behind and not push your business on a daily basis.

 

[Dylinks]

Most business in the early stage are still struggling to get their bearing, hence competition is far fetched because it will become a misplaced priority. It is very important to gather a good client based and do a survey of the product effectiveness before thinking of competition.

 

[ahmedo24]

The challenges in most new businesses is competition, it takes a lot of determination to be able to start a new business be it service or product oriented you just need fight the strong competition ahead.

 

[Gilead]

Well I don't agree with you totally because economically competition is very good especially in an open market. Also sometimes competition makes you sit better it makes you want to be better it makes you want to serve the best products or services to your customers. so competition has its own advantage you don't just say competition is bad.

 

[Sarfraz Ali123]

Competition is the rivalry between companies selling similar products and services with the goal of achieving revenue, profit, and market share growth.cutting costs, improving efficiency, lowering price and innovating by either creating new products and services or improving upon old ones. In other words, competition tends to give consumers better goods and services at lower prices.

 

[Chibson]

I think you're not getting it right here. Competition in business is very healthy. When there is no competition, Monopoly will set in. And when there is Monopoly, such businesses will not reach their peak. So every business that faces competition will definitely do well because they don't want to lose their customers.

 

[Briangsam]

Competition is really important in any business. Monopoly in business breeds complacency and complacency breeds poor services. If you know you are not alone in a business venture, you will always be on your feet. Competition also makes prices of goods and services competitive. So over all, competition is healthy for business.

 

[Keibah]

Perhaps there's something called healthy competition. You don't have to compete aggressively with people in the same business. Use it rather than know where you are lacking and how you can improve your business.

 

[Erik4150]

Competition is good for business. Imagine a business without competition, where one business owner controls the supply of a particular product. He could decide to start selling substandard low quality products and they won't be any consequences because he lacks competition.
But with competition, business owners are focused on delivering the best quality products and services else they will loose customers to their competitors.

 

[Hdre3m3n]

Competitions among companies can spur the invention of new and better products, or more effective processes. Innovations also helps customers with new and better products, it helps to drive economic growth and increases the standard of living of people.

 

[Keibah]

In essence, the competition will keep you at the top of your game. You will always want to standard and relevant because where you'd lack, someone else would be doing it perfectly and you can lose valuable customers and eventually lose money too.