Tuesday, May 19, 2009

Let Us Thank Our Competitors

They teach us how to get better.

They show us where we are vulnerable. They challenge our assumptions, reveal gaps in our research, and, if we are wise, unite us in a drive to achieve.

They demonstrate new approaches that we can avoid, adopt or improve. They remind us that while we may be wise, we do not have a monopoly on wisdom and there may indeed be areas in which we are barely sufficient.

In some respects, they are not the opposing team; they are extensions of our team.


Eclecticity said...

Interesting viewpoint for the open-minded and realistic. A former CEO that I was familiar with would look at the large successful competitor just a block or two away and vowed publicly to "make it a parking lot."

They are doing just fine these days as far as I know.

Michael Wade said...

If we didn't have competitors, we'd have to invent them or else we'd become slugs.

Monique Nelson said...

Another point that we often forget about the importance of competitors is that without them our products / services lose value. Why? Because if one person comes up with a product or service that is not worth duplicating, copying, or building upon, is it worth purchasing? Your competitors may not see it this way, but by competing with you, they are indirectly adding value to your product or service! So say thanks!


Michael Wade said...


That's an interesting point. There can be reassurance in knowing an item is the best of a selection rather than the only option.