The more we compete, the less we gain.
Yet the idea that competition is healthy is ingrained in our minds from grade school.
Remember that while competition may drive down prices for consumers, it also drives down profits for businesses. While in some ways business is war – ruthless, intense, destructive, and costly for those who fail – competition often causes us to become obsessed with avoiding loss and beating our opponents instead of focusing on improving ourselves.
When hundreds of startups choose to target the same, tiny market, no one wins.
Always have the courage to venture down an unexplored path and avoid a congested highway.
And if you cannot beat a rival, consider merging. But if you do have to fight, never half-ass your effort; strike hard and win, or don’t bother throwing a punch at all!