In business there will always be opportunities to learn something new. Whether it’s from taking a new class or learning from a mentor; there is always a new opportunity to add to your knowledge base. Yet, there is one area that is often overlooked when it comes to learning something new and that is from your assortment of competitors. The individuals or companies that give you the largest amount of resistance may also be your biggest influencer at the same time.
Competition has been proven to force people and groups to higher levels of performance. All one would have to do is to look at the professional sports world for numerous examples of when teams or players were faced with a nearly impossible foe. Some would fail while others would rise to the occasion to find a new way to win. That same mentality could be used in the business world for companies looking to get a leg up on their competition.
Whatever industry that you may be involved in there is always room to learn from your competitors. While many may consider this “copying” the fact of the matter is that if something is working there’s no reason why it shouldn’t be adapted into your business plan.
For example, in the music industry if a new producer becomes popular by making a number of hits for various artists, it’s a common practice that other artists will begin to reach out to said producer in hopes that he or she can recreate the magic for their next project. Whether it is the fashion, technology. financial or entertainment sector – there’s always a justifiable reason to watch what your competitors are doing to potentially catch onto a new tactic that could lead towards success. So major organizations even have dedicated staff members that do nothing else by watch what others are doing to help “keep up with the Jones.”
When looking for an opportunity to learn something new within the world of business do not be dismayed from looking towards your biggest forms of competition. Those who push you the hardest may also give you a new idea that leads to a major breakthrough within the industry.