ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

3 Reasons To Love Your Competition

Updated on November 30, 2012

Volunteering and working at a community center, you get to meet different people. It is amazing how much diversity there is in a small town. When it comes to business personality, you find that some individuals can be more untrusting than folks from a big city. As an example, we are getting ready for a big event that invites different types of craft vendors to display and sell their wares. Many different types of vendors will be here including people who are selling baked goods. More than one individual has mentioned that they do not want their booth next to anybody selling the same types of products. It is not about not liking another person, rather it's about not wanting immediate competition.

Why are so many people afraid of competition? The fear is not regulated to vendor events but also to people trying to operate online businesses as well as brick and mortar businesses. Nobody wants competition. They just want to run competition away. That's just bad business.

Competition should be embraced. Competition should be encouraged. Competition will actually create more curious onlookers who will develop into customers. Instead of looking at competition as an evil, there are many benefits to love and encourage competition in your market.

Reassure Potential Customers and Create More Customers

The more people who are marketing the same or similar products in the marketplace, reassures customers that the product or service is in demand. Long-term customers are almost always careful how they spend their money. New products and services make potential customers uneasy at first because they don't know whether they actually need or will benefit from the new product or service. More people who are marketing the same or similar items instills a sense of “need” within potential customers. Obviously if you look at your business long-term, once the “need” is instilled more people are willing to purchase a product or service. This isn't just regulated to “new” products, but even to easily recognized products and service.

Competition Helps You Develop Your Skill

Your immediate competition helps you to constantly learn and hone your product or service. Ultimately you'll want to do things better than the competition. This results in better service, a longer lasting product, a more beneficial product or even a new part of your business that was not there. These new skills will also result in more business because your customers will notice that you are just another “seller” but someone who strives to increase the value of your product or service.

Encourages Growth Within Your Business

Competition helps to get your creative juices flowing. When dealing with competition, you look at their strengths and their weaknesses. How can you, as a business owner, match their strengths? How can you capitalize on their weaknesses? These things help you to deliver more value to your customers. The more value you bring to the table, the more loyalty you build with your customers. Remember, people purchase from people they trust. Competition assist you in creating a stronger business and in turn higher revenues.

Welcome Competition

Today’s marketplace is filled with competition regardless of the product or service. However, more competition usually means more potential customers. The more people talking about a product or service, the more other people want them. This expands the customer base and also increases your revenue. Once potential customers realize the need and demand of a product or service, the key ingredient for your business is to make the product or service the best choice. Competition doesn't take customers away. Competition encourages customer growth and also encourages constant refinement of a product or service to make it better. What are you doing to encourage or embrace your competition?


    0 of 8192 characters used
    Post Comment

    • mrsponge1 profile image

      Richie Rosen 

      5 years ago from Florida

      I agree with you! Without competition you get lazy. Competition inspires me to get more creative, and drives me to work harder. Bring it on. Thanks for the Hub.


    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at:

    Show Details
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the or domains, for performance and efficiency reasons. (Privacy Policy)
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)