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Competition isn’t a dirty word in business or job search

Competition not Dirty Word In Business Or Job Search Search Remotely

Here’s a secret. It’s a well-known, established fact that competition is not a dirty word in corporate America or in the job search market. Forbes estimates there are over 1.0 billion websites online today! And this isn’t a static number either. The number grows exponentially with each passing day (more than 250,000 sites added every 24 hours). Apollo Technical calculates there are about 5.6 million people looking for jobs in the US with up to 30% of the global adult population actively looking work. Is it uber competitive in the marketplace? You betcha. CNBC, when conducting surveys about re-employment prospects, 70% of the respondents reported that their current job search is much more difficult than job searches in times past.

If you are a negative thinker or critical of your circumstances you could say that competition is fierce. To conclude, “Why even try?”

We’re hoping you don’t go that route. A wise man has said, “Don’t worry about the past, it can’t be changed. Don’t be anxious about the future, you don’t know what it holds. The art of life is to live in the present moment.”

Don’t shy away from getting the job you want. Or stepping into an entrepreneurial niche you’d like to pursue because you see the competition is plentiful. All that means is:

  • you have a good idea and it’s a proven moneymaker according to how many others want a part of that pie too.
  • you have your sights set on a rewarding career that will payoff in the long run as others have drawn the same conclusion.

Competition is good for the human psyche

Not only is competition good for corporations and consumers; its also beneficial for the human psyche. Frontiers in Psychology published an article demonstrating that competition can motivate individual competitors to increase their attention on a specific physical activity.

But we’re experiencing lots of headwinds. Not only from the intense competition but changing societal norms.

Competition is considered a dirty word

Competition is now considered a dirty word. For the past few years, societal norms have been unhinged and turned on its head. One would think that the value of meritocracy is declining. But is it?

Consumers value quality derived from a competitive market

Consumer behavior can be the best reflection of what drives a society. Consumers search for the highest quality product and the lowest possible price to meet their needs. ISO9000, the Malcolm Baldrige Awards, Kelly Blue Book Value Awards, and the Good Housekeeping Seal of Approval, are just a few of the many emblems companies strive to have affixed on their products or services. Why? Because these independent entities verify that the items are manufactured with the best raw materials and meet the highest quality standards available for the price.

In these instances, competition is indeed quite good because it forces companies to be the best at the lowest price (within reason).

Winners in a competitive market make winning lucrative

Harvard University Research in referencing the surge in competitiveness of Asian companies said succinctly, “once a firm meets or surpasses the quality of its lead competitors, it grabs huge market share.” (page 54, first para).

Consumers take active steps to determine quality based upon competitiveness

Think about it. Referring to the Forbes article again, almost 3/4ths of all businesses have a website where 28% of all business is conducted online. Zippia estimates there exists roughly 12 million to 24 million businesses worldwide operating e-commerce sites. Approximately 10 to 20% are based in the US, depending upon conservative or aggressive calculations. An internet presence is important, for sure. But a solid, stellar reputation based upon providing high quality goods and services may take the cake.

Consider this, too. About 80% of consumers looking to seriously buy a product or service will search the internet and research options before making a purchase. Further, the information consumers find most compelling are online reviews (55% of consumers use this tactic) and in depth information found on a company’s website (47% purchasers take this approach).

There are other reasons why competition is good for companies and for their consumers. Competition is a good thing because it can also prove the track record of a niche. What you want to do is bring something to the table within that niche that other companies have not yet brought to market. Or you’ve found an innovative feature you can add to a tried and true product or service at a fraction of the traditional price.

Case example of competition leading to business profits

For example, plenty of companies jumped on the bandwagon after the Kindle was released and began to offer protective cases in a variety of designs and colors to the public who purchased the Kindle and other electronic devices. However, one company decided to create a niche with safety from theft in mind and created a cover that resembles an old book – protecting the Kindle from scratches and from the view of would-be thieves as well. They took a niche and narrowed it down and charged ahead of the competition and are now making plenty in profits. Any product that is specifically focused will always beat out the competition. If you want to work a niche on weight loss, you’ll discover that the weight loss niche is saturated with websites, books, and other products dedicated to the topic.

Many examples of competition in the job market

The same analogies can be made about the job market. Prospective employees and job candidates have tirelessly researched the backgrounds, future revenue and growth projections of potential employers. When fortunate enough to get screened for the next step of the process, many are required to pass a behavioral assessment and a task assessment. After getting through this hurdle they may need to pass several rounds of interviews, leading to a panel interview. Some don’t even make it that far to be rejected. Many have been asked to record an introductory video and respond to AI generated questions. All of this can be a drawn out painful experience. All steps (hopefully) to ferret out the best possible job candidate to give an offer at the lowest possible wage. Competition is indeed alive and very well!

Psychologists, economists, policy woks and National Security Advisors tout benefits of competition

But, before we tout the benefits and advantages of competition, let’s take a look at what the experts say about competition. Who are we talking about? Psychologists, economists and public policy woks.

Psychology Today published an article sharing with its readers the following:

  • Economists stress the essential nature of competition as it helps to maintain productive and efficient markets. Its argued without business competition its likely monopolies will proliferate driven purely by self interest.
  • Public policy woks theorize the importance of “competition on domestic politics (e.g. presidential elections)” <– their words, not mine! so that the prevailing winner (or party) is ensured to represent the will of a majority of its electorate.
  • National security advisors diplomatically state the virtues of nation-state competition so as to require the most worthy nation possession of the most power and resources, relative to other countries.

Competition is the mainstay of survival

Even, biologically, the sexes compete for love and affection for survival. The most viriIe male and the most attractive female traditionally have had the luxury to get their pick of suitors.

So, why write this article? We’re trying to encourage downtrodden job seekers, aspiring entrepreneurs, isolated remote workers and digital nomads not to tuck away their dreams of earning the proverbial WWE belt or the queen’s diamond encrusted crown. Go ahead. We give you permission to be competitive. To find your competitive edge. Regardless of the naysayers.

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