When one says competition is good. Some people are like no, they just want to rule, without any competition. But that's super rare. In reality, you have to face competition whether you like it or not. As some people say, even for you to be conceived, several large numbers of sperm cells had to compete to fertilize the egg. We're born into competition. Life on many levels is basically competition. And we have to accept it, and be the best at competing.
Assuming that there was no competition, you will see yourself acting lazy. You'll not feel like doing anything, because you realize that whether you put in the work or not, you're the only one, unopposed. But when there's competition, you see that you put in your best to stay on top. If you take your eyes off the ball for a few seconds, you're second place. That makes everyone stay on their toes. In business, competition will always help reduce the price of goods and services. As the man that sells cheapest and with same quality or better will always attract more customers.
You must always make sure that you have a competition. If no one comes close to your standard. Then compete with yourself, work harder to break your own records. This is what even the greatest athletes do. Sometimes, an individual or business could just be absolutely better than the rest, such that everyone knows that there's no competition. In such cases, if you let that get to your head, the quality of your product or services will start to decline. So what you must do, at such points, is to target outdoing your own self.
Truth is that, life will not be fun if there wasn't competition. The beauty of it all, is in the suspense that who's going to be on top. If everyone knows who's on top, over time it all gets very boring. Let me give you an example, assuming your favorite team in any sports at all, has been winning the championship for over the last 50 years and till date is completely flooring all the other teams. You might assume that will be cool, but I tell you, the stadium might even stop getting full, because everyone knows what the results will be. There will be no surprise and very little excitement.
Why do you think that the trading markets are always active and most traders keep losing, only very few winning, yet the market is always filled with people? It's the drama. The uncertainty thrills traders. That competition between you and the market. Sometimes you win, sometimes the market does. So long as you're able to stay in profit, you'll enjoy it that way. Rather than you just winning perpetually, non stop. And that's why some very good traders end up blowing their account, they just get bored of winning continuously, and they feel like losing. Human beings, we're very strange and complex beings. The traders that maintain long and consistent wins over the market, have to think in reverse and go against human nature, by resisting the urge to lose to the market. And that's why most times, traders lose massively after long and consistent wins. They crave that competition, and unknown to them, they let the market have the win.
This is another important thing, competition is good. But you want to be on the winning side of that, as much times as possible. You'll always win some and lose some, but you want to win much more than you lose. So you have to work hard on yourself, so that you can have an edge, an advantage over your competition. And you can maintain your lead over your competition. We're built to compete. If we don't see competitions we tend to get bored. So accept the reality of human nature, and do well to always have an edge when competing. So you can have more wins.
If you have any contribution or comment, kindly drop it in the comment section below. Bye for now!!!
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Competition is definitely good for the business as well as for the customer. Without competition most businesses take advantage of the customers they have as well as provide shitty services. When there's a competition that treats customers better, they improve in a split second and start to run after the customers. Nice piece
Good competition should be loyal, with respect and without taking advantage of the power you have to diminish the other, I loved your post respected @greatideas