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Start in Business – Are You Afraid of Your Competitors?

Any strategic business manual teaches us as an important rule to constantly research and monitor our competitors in the market. We need to watch every move our competitors make and counter their attempts to gain more market share. Most entrepreneurs consider their competitors to be their fiercest enemies.

Therefore, for many entrepreneurs, watching their competitors is an obsession. Managers are so focused on reacting to what their competitors are doing that they almost forget about their own market strategies.

In recent decades, preoccupation with competitiveness has become commonplace. From our school years, we are taught to strive to be the best in our class, to beat our peers in acquiring good grades. Later, we struggle to acquire a better standard of living: to have a bigger house, a more powerful car, and a cooler suit than our neighbors, friends, family, or co-workers.

The spirit of competition is deeply rooted in our consciousness.

Now I’d like to tell you a story – a true story – about one of my high school classmates. We can call her Maria.

Mary was passionate about mathematics. He was happy whenever he found a quiet place to stay and solve difficult math problems. Mary never worried about what her colleagues were doing or what results they were achieving and never worried about comparing herself to others. He has also never been interested in his own notes. Anyway, she was the best by far.

She has been permanently competing with herself. Any new math problem was a challenge for her, an opportunity to learn more and find the result even faster.

Whenever one of us asked her for help, she was happy to share her knowledge. He always had time to help others.

I don’t know what most of my high school classmates are doing now, but I can tell you what Mary is up to.

It is a multi-million dollar company. Together with her husband, she founded an innovative software company and still pursues her passion for mathematics and computing. Create online learning courses for kids and various educational software programs.

As long as they are designing genuine products, it probably doesn’t matter too much if they keep monitoring their competitors. But I’m sure Mary is concerned about his progress as she always has been.

This is, in my opinion, a good lesson for anyone involved in business, and not only.

Most entrepreneurs enter the market by imitating other businesses and focus only on beating their old and new competitors. This is probably why more than 98% of new companies disappear from the market in the first 10 years.

The few companies that last over time are those that choose a different path. These business owners often challenge the way their competitors serve customers and bring creative new solutions to market.

Innovators mostly compete against their own limits and are permanently concerned with doing the right things better than they did yesterday.

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