Business Competition

By | January 27, 2017

It seems like today nothing is an “original.” If you think of an idea, chances are someone already has a business built around it. But, does that mean you shouldn’t move forward with your idea, business plan, or strategy simply because something like it already exists? The answer is, no.

Competition pushes us to always be better than our competitors. If you play college sports, you have to remain an equal if not better than your competition in order to have a chance at a national title. You don’t stop running because there’s another runner who might be better. You don’t stop swimming because someone is taller and faster than you, do you? No. You keep swimming, running, competing. You train harder, you alter what your current skill set is and you advance it.

The same goes with business. If you have an idea, and it exists, then make it better. Take Alamo for example. They aren’t the only rental car company in existence are they? To be fair, rental car companies are an incredibly profitable and competitive business, but that’s what makes them so successful Alamo has to go up against so many other big names in order to get a sale, it has to stay ahead of the game. So, the competition allows them to always be in the forefront of their business model, making them constantly strive to better today than they were yesterday.

This thought process goes for any business in any industry. Today, Alamo maintains one of the highest revenues in the industry. They know their competitors are out there, they know their competitors are striving to be the best in the industry, so that causes them to be better. In other words, they keep swimming, running, training until they are better than the person racing next to them.

 

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