This is a summary of my article originally published in Entrepreneur.
You may think of your business competitors as your rivals. However, a little healthy competition can help you reach further, jump higher, and grow faster. Competing for the gold helps you to push yourself to your limits—and it’s very hard to achieve without any actual competitors.
Start by gathering information on your competitors. While this used to be a fairly complicated, arduous process, today the internet makes competitive research a whole lot easier. And Owler, of course, even makes it enjoyable. By staying up to speed with your competitors, you’ll know when they’ve veered off their typical trail.
But be sure to keep the competition friendly. While your competitive spirit may drive you forward, an aggressive attitude won’t do you much good. People skills are important in the business world, and stepping on people’s toes, much less their heads, to get where you want to go certainly won’t earn you any allies.
Additionally, you should always keep an eye on your competition and pay attention to their business moves. There’s no need to reinvent your monitoring methods, either; follow the crowd and see what works for others.
And of course, it’s vital that you stay flexible with your business strategy. Notice an opening that a competitor might fill? Get to it first. Anticipate your competitors’ moves and use them to maintain your own momentum.
You can read more in Entrepreneur.