Why Competition Doesn't Matter
When you focus on becoming the best you can be, the competition becomes irrelevant.
Introduction
When it comes to business, many people think that the only way to succeed is to beat out the competition. This is simply not true! In fact, focusing on the competition can actually lead to disaster. When you become obsessed with what your competitors are doing, you can quickly become overwhelmed and stressed out. This can lead to decreased productivity and lower profits. Instead of worrying about what everyone else is doing, focus on improving yourself!
Competition distracts people from what's really important
When building a product or service your main focus should be on the customer and the problem you are trying to solve. Looking around at what your competitors are doing is like taking your eye off the ball. You can quickly become sidetracked and start copying what they are doing instead of focusing on your own vision. They may have taken the wrong way! Who knows? The customer does not care about your competition. They care about the product or service that you provide and how it solves their problem.
Competition can quickly turn into an obsession
Can you imagine waking up every day and thinking what's your competitor's next step? Thinking about what your competitor is doing, what feature has just been released, or any news that has just been announced? Don't you think that everyone is trying to present their company as the best in the world? Can you imagine that a company would market itself as the worst company in the world that does not solve any problem? Of course not! It's 100% natural to see everyone present their company as the best one. Do not forget that we live in a world where the winner is always the one that presents itself better than the others.
There's room for everyone to succeed
There are 5.03 billion internet users in the world today, which represents 63.1% of the total population. The world is big enough for everyone to be successful. There will always be enough people in this world that want to try your product and "buy" your unique way of approaching the problem you are trying to solve for your customers.
Don't get me wrong, competition is healthy. It forces us to be better. But we shouldn't focus on it to the point where it becomes an obsession.