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In a recent commercial for Gatorade, NFL star J.J. Watt has a simple piece of advice for aspiring athletes: find a rival. Having a competitor can help you stay motivated and perform at a higher level, says Watt. Such advice, not only for those who play sports, but also for S.

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Having a competitor can improve the performance of your business. For example, a competitor can push you toward your goals, increase your motivation to succeed, and increase your overall performance. But before you go out and find someone else to beat, it’s important to understand and avoid the pitfalls that often come with competitions. After all, competitive rivalry can hinder effective decision-making and increase your willingness to take risks, behaviors that will ultimately harm the success of your venture.

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Here are three tips to help you get the most out of your competitive rivalry while avoiding pitfalls.

Finding someone you want to compete with is a great way to focus on your goals and take your business to the next level. But when you focus on outdoing your competition, you can develop a “win at all costs” mentality that forces you to ignore the path to success. For example, a group of researchers studied the relationship between competition and unethical behavior. They found that when people compete with their competitors (compared to noncompetitive competitors), they are more willing to behave unethically in order to win. But such behavior can tarnish your reputation and strain other relationships critical to the success of your business. One way to escape this trap is to stop and think about the important things. While outdoing your competition may bring short-term gains, losing your integrity can have long-term consequences. As former world chess champion Garry Kasparov said, “If the road to hell is paved with good intentions, compromises in principle are streetlights.”

One of the reasons a competitor can increase the productivity of your business is that it creates a level of excitement that makes you work harder. But this drive to succeed can be detrimental to the success of your venture, especially if it prompts you to make impulsive and expedient decisions. For example, one study found that thinking about a competitor led participants to make more reactive decisions, even though success requires a more careful and deliberate approach. As a result, participants make more errors that harm their overall performance. But such costly mistakes can be avoided by developing critical thinking skills, considering opposing viewpoints, and conducting cost-benefit analysis, especially for complex decisions that determine the future of your business.

The sense of drive that comes with a competitor can cause you to not only make bad decisions, but also take more risks, jeopardizing your venture. For example, a group of researchers investigated the likelihood of competition between a group of football fans in risk taking. They found that fans who view the opposing team as a competitor pay more attention to offensive strategies compared to more risk-free defensive strategies. In a separate study, these researchers then examined competition between recreational athletes. The results showed that when reminded of an opponent, participants took more risks and avoided practice in favor of immediate play, thereby denying them the opportunity to gain additional experience. One way to overcome the negative effects of adversaries threatening the success of your endeavor is to be mindful of your emotional state and actively observe how those emotions influence your decision-making.

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As long as you can avoid pitfalls, competitor research is a great way to improve your motivation and your business’s performance. To benefit from the competition, it is important to stick to your principles, have the habit of thinking critically and avoid unnecessary risks.

Joel Carnevale is Associate Professor of Management at Martin J. Syracuse University Whitman. His research focuses on leadership, creativity, and ethical behavior at work.

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He “grew up in bars” and drank until he was 10, but it changed his life. Now he owns the business and runs it.

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Learn proven methods and actionable tips to help you improve your business’s visibility in your community and stay ahead of the competition. Porter’s Five Forces Analysis was created by Harvard professor Michael Porter in 1979 and provides a framework for industry analysis and business development.

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Porter suggests that there are five forces that hinder or prohibit a company’s ability to succeed in a given market:

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The excitement and enthusiasm for starting a new business can quickly wane when you realize that you are faced with the task of analyzing the complex business landscape around you.

The number of factors to consider can be overwhelming, leading to errors in judgment and unnecessary risk.

This article aims to help you navigate this process by providing a simple overview of Porter’s Five Forces analysis.

This is not a step-by-step guide or a to-do list, but rather a set of factors to consider when assessing competition intensity and market attractiveness.

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This may seem strange at first, as it seems more logical to pursue a market that is easy to enter.

However, if you can do it, so can everyone else, and if it’s very easy for other businesses to enter a market with little expertise, experience or start-up costs, it will be very difficult for you to create and capture any value. That market.

Alternatively, if the market is too difficult to enter, you are less likely to be pressured by new competition in the future.

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The obvious catch is that if the market is difficult for everyone else to enter, it will be difficult for you to enter.

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But if you can overcome the barriers to entry, you will be in a stronger position to dominate the market in the long run.

An important factor to consider is legal restrictions such as patents, copyrights, regulations, and legislation that may limit your ability to enter the market.

High start-up costs, operating costs, exit costs and sunk costs (non-recoverable) can also limit new business entry opportunities.

Finally, the strength, market share, and retaliation of existing companies and brands, as well as their existing commitments and partnerships with key partners, suppliers, and buyers, can make market entry very difficult.

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If you can overcome these barriers to entry and enter a market with less risk of new entrants, you will be in a very favorable position.

If you want to enter a market where your customers can substitute your product or service, you must think carefully.

To put this in context, if you went to the supermarket and there was no butter, or if butter was much more expensive than margarine, you would most likely buy margarine.

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However, if we consider the other two examples of beer and wine or beef and pork, the threat of substitution is slightly less.

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People who drink beer may not like wine, and it may not be a suitable substitute for those who plan to cook with beef and pork.

The less opportunity your customers have to substitute your product or service for another, the more pricing power and control you have in the market.

Simply put, you have more control when you enter a market where only a select few businesses sell to a large number of buyers.

In this environment, because alternatives are limited, people will have to buy from you at the price you set.

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In such an environment, the buyer has more bargaining power over who he buys from and at what price.

This doesn’t mean you have to cheat people with exorbitant prices, but it does allow you to maximize your profits.

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