So, I know competition is good, or so they say. There are so many aspects to competition that really does make it good. It pushes companies to provide better services or products, and to make sure they are staying on top of what they do and not getting stuck in a rut.
Sometimes I think that competition leads to flat out ugly pride though; companies making themselves look better than they are, or bash others in their industry, just to get an edge. I understand that every company needs to put on their best clothes when they go to stand in front of their prospective buyers, otherwise they lose the opportunity to impress. They also need to know what they have that the company down the street doesn’t. Does that mean they should to beat one another with a proverbial stick though?
It seems like there is a place in almost every industry where companies could really benefit from competition through pushing each other to be better. What I mean is, what if you wanted to make your company better because you saw the growth in another company improving itself, rather than wanting to make your company better only because you’ll die if you don’t. The difference here is just our mindset. Helping other’s (your competitors) do better means you have examples now of how you can do better in similar ways. Likewise, your competitors now want to help you succeed, because you helped them.
For the client or customer in the end, this means they will be happier and they will encourage others to visit your business neighborhood (physical or virtual).
Look at malls, car dealerships, or downtown districts. If the the stores work together (even in close proximity) to increase the quality, the revenue increases because more people come there knowing they will find more good companies to choose from. The customer wins and the stores win.
I’m sure many of you out there have considered this topic as well, and maybe some of you have come across some good resources on this. If so, please send them along.