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Is competition in your new business sector good or bad?

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Is competition in your new business sector good or bad?

Post by viktorados on Wed Oct 20, 2010 1:43 pm

Is competition in your new business sector good or bad?
What does strong competition mean?
How can you excel in a strong competitive environment?
Why should you start your business there?
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Re: Is competition in your new business sector good or bad?

Post by Amy Twain on Tue Nov 02, 2010 12:02 pm

It can be both good and bad, I guess.

Competition can motivate you to strive better and harder to be successful. However, if a competitor outshines you, then you may fail if you're not good or resilient enough.
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Re: Is competition in your new business sector good or bad?

Post by pipette4x on Tue Nov 02, 2010 1:19 pm

without competition a company would have a monopoly, and higher prices. competition keeps prices down and innovation/process improvements up.
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Re: Is competition in your new business sector good or bad?

Post by Amy Twain on Wed Nov 03, 2010 2:39 am

I agree with that pipette. Can you just imagine having to rely on a single company which may take advantage of the consumers since it's confident that you are totally dependent on that company alone?

It's better to have competition so that consumers have choices.
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