Competition has proven itself to be a failed business concept. Those that follow and copy rather than lead and innovate are all but dead in today's economy! Contrary to what you have been told, competition is not healthy and in fact breeds failure and mediocrity.
Competition is for followers and imitators not leaders and innovators. Failing businesses, unemployment, factories closing, product demises, and salespeople unable to hit their quotas are just a few examples of being competitive. Competing results in razor-thin margins, reduced stock values and leaves in its wake mediocre companies and second-tier players who depend on prayer and bailouts for their futures. TWA, Circuit City, Blockbuster, ABC, CBS, NBC, Sears, and Pontiac are just a few examples that competition is a failed business concept.
Competition and individuals that spend their days mimicking what others are doing is reactive and suicidal. You have been convinced that competition is healthy, but healthy for whom? Great companies, great managers, greats sales people, and tomorrow's leaders set the pace of the race -- they don't seek to compete but dominate!
-- Decide to dominate your sector and your market.
-- Do what your "competitors" will not do.
-- Be so ferocious in your actions that you are seen everywhere.
The concept of competition is a like a cancer in business today with companies and individuals comparing themselves to what others are doing rather than what is possible. Competition has never made a company, country, product or an individual great! Competition is not an American theme but more a communist one.
Greatness is achieved with the decision to be the leader in the space and dominate. Domination is the idea of controlling a space with such ownership that your supposed 'competition' cannot keep up and succumbs to follow. Pixar, Facebook, Apple, Netflix, and Southwest Airlines are examples of companies that dominate their spaces.
The new business mantra is domination, not competition!
Grant Cardone, NY Times Best Selling Author and Sales Training Expert