A few weeks ago, I attended a soccer match between two fierce rivals. The team I was rooting for scored an incredible goal. Their striker skillfully maintained possession of the ball as the opposing defenders failed to prevent his scoring. Reflecting on the game, the losing team acknowledged that they should have attempted to tackle the scorer, even if it meant risking a penalty.
Playing soccer with the focus on preventing the other team from scoring is like trying to grow your business by preventing your competition from winning.
In business, fixating on keeping the competition from being successful can result in a defensive mindset. This approach might involve constantly reacting to competitors’ moves, imitating their strategies, and engaging in expensive market battles.
However, the road to success lies in carving out your own path rather than merely reacting to others. Successful businesses focus on developing their unique strengths, seeking new opportunities, and finding ways to stand out from the crowd.
While monitoring competitors is crucial, the true value is learning from their successes and sometimes costly mistakes. The key message is: " Watch your competition, never follow them.”
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