Competition is the first step in business building

Note: Identifying your interests, feelings, wants, and desires precedes building a business.

Competition isn't solely about tangible companies and offerings; it's flexible. Regardless of how you perceive it, competition is essential.

Competition sets the stage for determining your value in a spending environment. Without it, neither you nor the customer can gauge your relative value, hindering successful pricing of your offerings.

From a customer's perspective, they need to allocate a portion of their income to your product or service. If this isn't feasible, they won't purchase from you.

Identifying the right competitive landscape can be advantageous in the buyer's market, potentially providing you with leverage to sell your offerings.

There are numerous ways to approach competition, including several incorrect methods. Different competitors may fail to make their offerings appealing due to flawed tactics.

Competition influences not only selling but also product development. The right strategy for building and selling can differentiate a market leader from a mere participant.

In summary, locating and identifying competition, preferably adaptable, paves the way for **initiating a business conversation** with your team and yourself.