6Competition
Know thy competitors
Competition can be compared to the two hikers who spotted a mountain lion stalking them. One of the hikers calmly sat down, took off his hiking boots, and began putting on his running shoes.
“What good are those shoes going to do you?” asked his buddy “You can’t outrun a mountain lion!”
Lacing up his running shoes, the friend responded, “I don’t have to outrun the lion. I just have to outrun you.”
Competition is generally good. No one ever set a world’s record competing against himself or herself. If competition can make General Motors, GE, and the U.S. government improve their performance, just think what it can do for you.
When I’m out speaking to Corporate America, one of the lessons I always share is, “Know thy competitor.” You’ll profit a lot more by trying to learn from your competition than by trying to destroy them.
You need to recognize that your competition is not just the outfit that’s selling the same kind of stuff you are. If you sell envelopes, for example, your competition is not just other envelope manufacturers; it’s also email and fax. The competition is whoever affects how your product is used, even if it seems like a stretch.
I remember reading a plaque on a businessman’s office wall that was printed in the great little publication Leadership. It read:
- My competitors do more for me than my friends do. My friends are too polite to point out my weaknesses, but my competitors go to great expense to advertise them.
- My competitors ...
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