11 Reasons Why Competition Is Healthy For Your Business

ave you ever thought that marketing your small business would be easier without competitors?

Most of us have at time to time.

Whilst you shouldn’t be fixated on your competitors, you can’t afford to ignore them.

Having competitors is healthy and this video shows one reason why – collaboration:

Remember the competition you face in your market may be direct or indirect.

Here are another 11 reasons why it is good for your business:

• Helps grow your business grow and market

• Reminds you to focus on keeping your key customers

• Provides opportunities for creative thinking

• Stops complacency

• Allows for working together on common industry or market issues

• Can motivate you to a higher standard of customer service or innovation

• Provides ideas you can adapt for your products or services

• Helps identify potential threats to your business

• Helps your strengths and weaknesses

• Provides an alternative for customers who are not a good fit for your business

• Helps you work smarter

We hope your perspective has been broadened about, how competition is healthy for your business?