Why Its Good To Have Competition In Business
Many business owners are always trying to stay ahead of their competition and sometimes even wish for their competitors to go out of business. In the pest control industry there are a lot of companies fighting their way to the top in their service areas. In NYC alone, there are over 500 pest control companies to compete with. A business owner will usually want to see their business succeed and stand the test of time. Business owners want the entire market to be in the grasp of their hands. There are times business owners are jealous of other businesses, but sometimes this can be a good thing. Although competitors may indirectly take money out of your pocket, its always good to have competition. In todays blog post we will explain the positive side of having competitors.
- Competition keeps you on your toes. Sometimes being “comfortable” is a trap that many business owners can fall into. Knowing there is hungry competition at your customers door step can cause you to be very innovative. Competition will have you think outside of the box and ask your self “What can we do, that they aren’t?”
- Competition could change the quality of your work. If you don’t change the quality of your companies work and improve it then you may be forced to lower your prices. Be at the cutting edge and try to find out what methods your competition is using at jobs.
- Competition helps you game plan and set goals. Instead of living in the now, you’ll be living in the know. You will want to have growth plans for the future. Competition will cause you to plan out where you want to be, and if you want to out grow you service area.
- Competition can help you understand what works and what doesn’t. Sometimes you will notice your competition offering services that you wouldn’t want to be bothered with. All of a sudden you start to notice that they are succeeding in these endeavors. This will help you second guess your services and then you may want to offer this service. Competition allows you to test the field without even lifting a finger. It will tell you what your customers want and don’t want.
- Competition will force you to be a team player. If you can’t beat em, join em. Local supply stores and refresher courses will be a gossip grounds and could be a gold mine of info. Hanging out with the local businesses owners will help your networking skills and in the long run get you more business.
