What Types of Competitors Will Your Company Encounter?

Contrary to popular belief, not all competition is bad.

There are some instances where having a competitor in your market segment may not be as disadvantageous as it may seem. The variable that will determine your need to worry is the level of competition. If you’re going head-to-head with a lumbering and harmless opponent, you may just be able use their weaknesses as your strengths.

Naturally, as is the case in the wild, you’ll do best in a market segment where you have no enemies. But if this is impossible, having an inferior opponent isn’t too difficult of a proposition.

Business that have established a competitive advantage and are utilizing smart business growth strategies should never be weary of competition. These sorts of companies should be able to overcome any obstacle that may land in their way. For more on competition, watch the video featuring Reid Hoffman.