Looking at people in the same industry as competitors and allowing that to be the incentive to grow is flawed. This is a poor reason to adjust your strategy. I would change nothing based on this outside observation. I know this. Reacting to “shaking up the market“ is at its core, our fear of poverty (lack of abundance). It has nothing to do with serving clients but more to do with “what if they make more than me and there’s not enough for me.” If we all helped those who needed it, we could never reach them all even if we worked 24/7/365. If we change based on fear, we may remove ourselves from the listening of those meant to learn from us. This is heart centered service. Changing based on fear is Not a good sign in a coach.

To transform competition into opportunity, view the new entrant as a catalyst for improvement. For example, when Netflix disrupted the video rental market, Blockbuster could have seen this as a chance to innovate their own business model. Instead of resisting change, they could have invested in streaming technology or improved their in-store experience. By embracing the challenge, companies can often uncover new ways to add value for customers and strengthen their market position. Competition can drive innovation and push businesses to excel in ways they might not have considered otherwise.

When a new competitor enters, the knee-jerk response is to focus on countering them, but that’s playing defense. Companies like Apple didn’t just react to new players—they redefined entire industries. As Steve Jobs put it, “If you don’t cannibalize yourself, someone else will.” Embrace proactive disruption by reimagining your offerings before your competitor forces you to. Being a step ahead means not just adapting, but setting the pace.

Primero, mantén la calma y analiza a tu nuevo competidor. Identifica sus puntos fuertes y sus debilidades. Luego, refuerza tus propias ventajas competitivas y adapta tus estrategias de marketing y ventas para destacarlas aún más. Diferénciate con innovación y un servicio al cliente excepcional. Además, escucha a tus clientes. Sus comentarios y necesidades son una mina de oro. Ajusta tus productos y servicios según su feedback, y permanece flexible ante las tendencias del mercado. La agilidad y la adaptabilidad son tus mejores aliadas para mantenerte un paso adelante.

First thing - Celebrate. If there is competition, there is validation that someone else believes that you are on the right track and is willing to put his / her money to do what you are doing. This is one way to get product market fit / validation. Step 2 is to understand your competitor. With understanding their strengths and weaknesses, you can have a relative understanding of your product strengths and weaknesses. Step 3 is to plan on how you would like to compete - there are many ways to win - capabilities, innovation, customer service, commercial models, niche market segment etc. Step 4 is to execute on your plan. Understand that markets and competition are dynamic in nature - they will shift. So be ready to repeat this cycle.