Here are five extremely compelling reasons for you to embrace your competition.
Business owners frequently consider their competition as the enemy. Even the word “competitor” creates a need to compete against - to destroy, to attack or to beat. Business owners are most often very competitive themselves and the idea of having someone to compete against is very attractive. Many owners focus their businesses on beating the other guy, because that is how they measure their success - just like in sports, where one side has to beat the other side to win.
However, by focusing so hard on beating the competition, owners get diverted from their real objectives, such as increasing productivity and profits and controlling costs. Sometimes owners want their competition to thrive and prosper so that they can hitch a ride on the wave to prosperity - much like how successful McDonald's locations attract other fast-food businesses, which also prosper.