Most companies fear competition, best-selling author Seth Godin surmises in a recent blog. But not all. In fact, he references a few companies who embraced the competition by entering established markets with something fresh.
Some organizations, though, work to find competition instead of fleeing from it. If you have a system, a point of view and a process for growth, then a market that already exists is your friend, the next place you can grow. And so, for example, small chains like Five Guys and Shake Shack are happy to set up shop right next to fast food places that might represent competition.
This is one reason Amazon’s efficiencies are so fearsome–they prefer to start in a market with competition.
Read In Search of Competition