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97: Why Competition is Good For Business

The Bootstrapped Founder

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Competition Is a Great Teacher

The dynamics of a monopoly lead to complacency and eventually consume harming processes. No single business can reliably and willingly serve every one in that space. If you suppress choice, people will may do it what they have because there are none for them. Running a business means constant learning from your customers, your competitors and the rest of the market. The more incentives you have to learn about ways to improve and provide a better service, the stronger your business will become.

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