Why is Competition Good for Business?

When you start a business, there are a million things you need to think about. Even if that number seems like an exaggeration, the truth is that there are certainly more things you need to think about than in most other careers.

After all, if you work for someone else, it’s them who will be doing all the worrying and planning, and you’ll just have to do the work you’re given to do. When you’re the boss, you have to take on a number of different responsibilities.

One of those responsibilities is to understand your competitors more. You need to know who they are, what they do, and how they do it, and you need to know how all of that will impact your own business.

Many business owners don’t like this idea. They have plenty of other things to do, and the thought of using some of their time to investigate their rivals doesn’t always sound appealing.

Surely other things would be a priority, and…

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