Is competition a good or bad thing?

[cloudchaser22]

Starting out, I think competition sucks and is a bad thing! Why? Because you can you spend

hours working on something and someone else can just come out from underneath and start

eating you out (not in a sexual way either...)! Just curious to find out what others are

wondering... do you think competition is good or bad?

[onera]

For a seller competition is bad, for a buyer competition is good. For the overall economy competition is good.

[Kevin Riley]

Competition is good. If I find a niche with no competition, I run away. In this day and age, if there is no competition, there's a very good reason for that -- no buying customers.

[mario2001]

Originally Posted by onera

For a seller competition is bad, for a buyer competition is good. For the overall economy competition is good.

I agree with your comment.


Mario

[Mike Williams]

It's not good or bad. It's neutral. And the way you deal with competition will decide whether its bad or good for YOU.

If a niche is not competitive I like to go the SEO route.
If a niche is very competitive I like to go the affiliate program-JV route to break in and take over.

You'll notice that in the second example I'm using the competition to my advantage so it becomes a good thing for ME because of the way I've positioned myself and my business.

[Rod Cortez]

Originally Posted by cloudchaser22

Starting out, I think competition sucks and is a bad thing! Why? Because you can you spend

hours working on something and someone else can just come out from underneath and start

eating you out (not in a sexual way either...)! Just curious to find out what others are

wondering... do you think competition is good or bad?

Following an abundance thinking model, I think competition is freaking awesome. Here's why:

* The competition has done the majority, if not all, of the market research for you. With some work and due diligence you can find it out.

* No single business on the planet does all the things perfectly well. And no one product or service appeals to all people; so you can always find something that you can do better or differently than them.

* I can follow where the competition advertises. You can also try out places that they don't advertise and you can literally find some goldmines like this. For example, I entered into a very competitive niche 4 years ago and was able to compete because none of them were advertising in magazines, nor were they using free publicity to come on the radio or on local television. Four years later, there still isn't anyone else doing this (no, I'm not sharing the niche either).

If you're just starting out you've got to realize there are different levels of competition. Virtually any market or niche where there's money to be made will have some level of competition. I used to think that as a newbie one should jump into a niche that isn't as competitive and I realized that that was scarcity thinking. Jump into a niche where you know you can compete. It could be as simple as creating a nice sales page or squeeze page or content squeeze page, driving traffic to that page, promote one to a handful of affiliate programs and see if you're able to break even.

If you can break even at a 50% commission then you KNOW you can make money by selling your own product (again, this is just ONE example).

I love competition. Sometimes I even work with them, just like Mike.

My one nickel,

RoD

[Laura L. Harris]

I am seller, and I dont think competition is bad, it is good for me, it motivates me to do hard work, more comp = more money

[cloudchaser22]

wow i guess most people think competition is a good thing. that's good thinking

because you guys are all thinking positive. i guess you just have to use

competition as a asset rather than being fearful of it all the time

[Tsnyder]

One of my favorite quotes... although I don't
recall who said it...

"Competition breeds excellence."

Tsnyder

[UniqueMind]

Well CloudChaser,

It entirely depends on your perspective. If you are competitive by nature ..then 'competing' would be FUN.

If the competition is too tight and hot ..there is no doubt that huge money can be made out of this particular market ..like the "weight-loss". All you have to do is find the 'loop holes' and do that aggressive marketing. Black hat also works miracles.

If on the other side ..you choose to go by the smooth path, with no competition, the first thing you will have to do is FIND such a market. Note that as you read this ..there are many untapped niches with HUGE potential. Go find em and cash in your pocket.

Mike and Rod too pointed out some real important tips.

Originally Posted by Rod Cortez

You can also try out places that they don't advertise and you can literally find some goldmines like this.

Not always, the least concentrated and most ignored tactics work wonders.

Hope that helps,

Steve

[Ryan Dodson]

Competition keeps me on my feet. So I'd say it's a GOOD thing.

[dcristo]

If your new to internet marketing, probably not good. But once you get more familiar with internet business, not such a bad thing. Competition tells you there is money to be made in that market.

[seree]

For me,

Competition is a good 'sign' but it's a bad thing.

[Amira]

I've always been very competitive, i want to exceed any one's expectation and do better. Unfortunately I was raised to think that this is a bad thing. I guess it makes some people turn against each other and that is not the idea of it.
For me it's like this: When i see other people excel and do great things, I want to do the same and MORE.

[softtouch]

What's a game without competition?

A very boring game! :-)

I love competition and I love winning. I am not fond of losing at all.

Phil

[chris_surfrider]

Targeting allegedly "untapped" niches is usually a terrible idea.

Save that for when you're rolling in it by targeting obvious, buying customers.

Keep in mind that it only takes one tweak to get attention in competitive markets.

Whether that's controversy, better affiliate commissions, better product, etc. that's how it's done.

-Chris

[cloudchaser22]

hi! great posts i guess there are some mixed reviews here~

one is that it turns us against one another *for some reason i'm thinking of

charles darwin i don't know why, eh* but then doing this lets us excel past

expectations~

the other is that you can make lots of money by tapping an untapped niche,

but it can also be something that you might not want to do:

"Competition is a good 'sign' but it's a bad thing."

"there are many untapped niches with HUGE potential. Go find em and cash in your pocket"

"Targeting allegedly "untapped" niches is usually a terrible idea."

and finally, competing against each other makes if funner~

"What's a game without competition?

A very boring game! :-)"

but what if that boring game brings you a $million dollars? would you still play?

*i guess i'm just a big fan of Tetris, heh*

these are all interesting observations... i'd like to hear more opinions on this

topic if you have anything more to add, thanks!

k, good night I'm going to sleep now~

[guopei01]

Hi! Great Question, cloudchaser22!

I think that competition is a 'bad thing' in the short run because you could really get demoralized and depressed, but in the long run, you actually become stronger. As the saying goes, " the coral on the lagoon dies rapidly with no challenge for growth and survival while the coral facing the surge and power of the open sea thrives and multiplies because it is challenged and tested every day. And so it is with every living organism on Earth."

[Mark Brock]

Originally Posted by Kevin Riley

Competition is good. If I find a niche with no competition, I run away. In this day and age, if there is no competition, there's a very good reason for that -- no buying customers.

I whole heartedly agree with Kevin.

Competition is a very good thing for a business, even a small one. Competition is the driving force behind success.

If you were to enter a market that had no competition, you'd ask yourself two questions.

Firstly, is this market so new that I am the first one to enter it? If so then you will expect competition to join you in that market soon wouldn't you?!

Secondly, why is no-one else operating in this market (especially if it has been around for a while)? It can't be profitable.

Let's look at the first scenario.

If you were to enter a market first as a small business and then a week later the biggest company in the world decided to enter that same market as well. What would you do?

Are you telling me that you'd simply give up?! I would hope not otherwise you may not be in the right business.

I'm assuming you would instead be very wary of this competition and use the fear that it generates to come up with a way you can both exist in the market.

As the other company is the biggest in the world, you would naturally assume they would then be taking the lions' share. How will you get your hands on the rest?

Competition isn't a terrible thing. It can force you into making changes to your business that you should have done before but had no motivation to.

If there was no competition, you'd seriously re-consider being in the market you were in. Why would no-one else want to enter this market?

Mark

[Hardi Wijaya]

Competition cuts both way -- good and bad. Because it depends on one's state of mentality in business.

It is just an indication of money flowing in the market. It gives us a sign what to sell and what not to sell, and what to do and what not to do.

If you don't know how to spot the 'hidden' money, you could usually do the same thing as your competitors -- fight with the competitors. That may be good if you've deep pocket, great skill, and huge marketing asset. If you don't have these, you just have to stand on your competitor's side and play along with it to make money.


Hardi

[Aaron Tan]

I suppose everything has to strike a balance...

"Moderate" competition is healthy...

But if a newbie trying to venture into the fierce money making niche and even tried to use PPC.....competition is no good for him at that stage.

Personally, I would only go into niche/s that having at least "moderate" to "fierce" competition.

At least you know the people in this market are really SPENDING ..right!

Just keep improving your knowledge and remain competitive in whatever niche/s you choose to venture into....

Keep exploring and understand that niche.....in no time...you would definitely have your fair share of the pie..

That's what I think!

Good luck!

[richfit]

Competition is Awesome! It makes you figure out ways to collaborate with your competitors or Deliver Better Quality

[WinsonYeung]

Competition is good for consumer but bad for producer

[Razvan Rovinaru]

If you have the right mindset, then competition can be a good thing and become very profitable for you.

Competition can translate into JV's which can help you develop your own business considerably if you know how to approach your competitors.

Also, powerful competition can determine you to provide better content and offers for your readers that can lead to growth of traffic and earnings.