Do not knock the competition unless you can knock them out; even then, do not do it.

Compliment the competition. It shows respect. Competition means preparing to be your best.

1. They are focused on training. They are fixing the flaws that led to their last defeat.
2. They are forming a strategy for exploiting where they think you are weak. Competitive edge comes from training hard, scouting your competition, and preparing for everything that comes at you. They are already studying you and your history of moves. You are only as invincible as much as the competition cannot see any chinks in your armor.
3. They are getting new tools, techniques, and technologies to make them more competitive for the next meet. They are thinking about what they can do that you cannot do.

What made them winners in the last meet, and what are you doing today to leapfrog your competition?

If you were the last winner, do not think that will be the case the next time you meet. How are you going to shut out the competition? Beating the competition is relatively easy. Beating yourself is a never-ending commitment. I had learned from track and field that the art of competing was the art of forgetting. It would help if you forgot your limits. It would be best if you forgot your doubts, your pain, and your past.

If you suffered a loss to the more sophisticated competition, learn, let the fire of passion for improvement, and hope a better outcome bless your subsequent encounter. Do not set small stretch challenges, but big ones that stretch you, or you will be blown out at your next competition.

The conditions change every year, and your competition changes to the context, be persistent and self-confident, analyze your failure but do not linger on it. It is a good practice to underestimate yourself and overestimate the competition. Competition is a dog eat dog world. Innovation, strategy, and technique are how you stay ahead of the game and leave them in the dust.

ALL THINGS BEING EQUAL SPEED SLAUGHTERS THE COMPETITION. –MARK MCCORMACK

The significant forces of change to keep your eyes on are

1. Competition
2. Potential substitution
3. Clients appetite
4. Regulations
5. New technology driving changes

According to the author of “BOLD,” Peter H Diamandis, there are six things every CEO must know:

1. Change is constant,
2. The rate of change is accelerating,
3. Disrupt or be disrupted,
4. More competition is coming
5. With exponential technology, there is a lower barrier to entry
6. Harness the power of the crowd or die by crowdsourcing.

Stephen Choo Quan

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