It's also a good way to see how well having Competition can work. One company comes up with a new product - and the next thing you know there are two or three other companies with their own versions. Now - if you really pay attention, one of the things every one of these companies does is tell you how they're better or at least different from the others. This is a key to successful selling. And it's a key to how to sell yourself when you're out there Earning a Living.
Competition is useful in the right circumstances.
It fosters extra effort, generates excitement and encourages your best. Some of your greatest ideas can come from keeping an eye on the Competition. Watch and think about what they do, both right and wrong. Your Competition has done the work for you. Now all you need to do is design ways to do it better.