A Little Competition Is Good For You

Competition can hurt. Whether it’s vying for a promotion or trying to claim the last slice of pizza. But what if I told you that a healthy dose of competition can actually be beneficial?

Easy for me to say, in the safety of my Ivory Tower? Nah, I’m competing for scarce resources every day. But let’s face it, a lack of competition can breed complacency. Imagine being the only restaurant, club, or car dealership for miles around. You might think you wouldn’t have to worry about someone stealing customers, but there’s also less pressure to innovate or keep your hours convenient. Customers, unsure if you’re open or of the lines are long, might just take their business elsewhere.

And that’s just talking about brick and mortar. Even in an online environment, if you’re the only game in town, you have to be the one to bring new business into the marketplace. And you can’t exactly learn from a competitor’s mistakes.

This applies to you in the job market too. A single applicant might lead a company to simply hold off on filling the position altogether. A pool of candidates, however, encourages them to actively interview and find the best fit.

So, the next time you find yourself in a competitive situation, take a deep breath. It might just be the push you need to excel, or a sign that the “competition” is actually creating a better environment for everyone involved.

What do you think?

See you tomorrow!