But it can also bring out the worst. Quick self-diagnosis: Do you consider your competitor to be your mortal enemy? Ever use words like “destroy,” “bury” or “scorched earth” when describing your competitive plans?
Now that’s not healthy.
There are very few industries in which competition is a zero-sum game. In other words, your competitor’s successes are not necessarily your failures. Thinking of them as such only leads to ugliness in the marketplace.
Instead, focus on areas of possible collaboration. Are there projects in which you and your competitor can form a strategic alliance? Failing that, can you pool resources to influence public policy on behalf of your industry at large?
If nothing else, just have a conversation. Take a lunch every now and then to talk through differences or just get to know each other. You don’t have to be best friends, but you should come to accept each other as decent human beings just trying to earn a living.
We’re all just trying to earn a living, but chances are, we’re all someone’s competitor. And it’ll take all our efforts to make sure that competition stays healthy instead of turning into something ugly.
The C4:
- Business competition drives market efficiencies and creates choices for the consumer. All else being equal, it’s a positive force for our economy.
- But competition can turn ugly. It’s all too easy (and far too common) to dehumanize our competitors and to work toward their destruction.
- That’s not healthy and it’s not good for our economy. Competition is about finding an equilibrium. Very little in business is zero-sum. There is room for success for all of us.
- Look for common ground. Look for areas of cooperation. Keep lines of communication open. Compete, by all means, but remember you’re competing with decent people who tuck their kids into bed at night. Hopefully they’ll remember the same about you.
