How to Deal with Your Business Rivals - 4 Important Considerations

In a classic Simpsons episode Lisa is confronted with a new student (Allison) who outshines her in the classroom. Allison even challenges Lisa’s skills on the saxophone. Throughout the episode Lisa battles her jealousy. She even resorts to unethical tactics with the help of Bart to defeat Allison in a “diorama” competition. They both lose but in the end they decide to resolve their differences.

In this new competitive business environment, somewhere you can probably identify your main rival for the hearts and minds of your customers. Use the rivalry to get better. Here are four things to consider.

Rivals can be differentiated by their leaders. Understand those differences and emphasis the strengths you bring to your business.
A rival should stimulate you to develop new competitive advantages.
Business is not a zero sum game, so don’t waste your ambition on a cage match with your rival. Instead use it as an opportunity to learn.
The rivalry is also an opportunity to test your assumptions and maximize your own potential.

Don’t listen to your inner Bart!