What Is Competition and Is It Good for Me?

Let’s be honest here!

It’s always fun to participate in competitions. At one point or another, you will have likely participated (and enjoyed) in some kind of competition. In order to win a championship or promotion, all you need to do is to beat the immediate competition – whether it’s the rival team or a co-worker.

We love to compete and you can say that it’s human nature. It’s not surprising that people constantly measure themselves against their peers.

So today, we’re going to delve deeper into our need to compete with each other. We’re going to talk about the competition definition and discuss the actual benefits of being competitive.

What is Competition?

The word “to compete” comes from the Latin word “competere”, which means “to strive together” or “to seek together.” However, many social theorists do not agree with the general definition of the word.

At the simplest definition, competition is the rivalry between two or more person or parties over something. It is a naturally occurring event between living organisms that live in the same environment. For example in nature, animals constantly compete for food, water, and mates. For us humans, we compete for things like wealth, prestige, fame, attention, and many others.

Some competition can be remote like a 3-point contest, or antagonistic, like a standard football game. Although both instances involve competitors, the first one is isolated from each other. While in the latter, the players can influence the performance of their rivals.

In economics, competition is defined as the effort of businesses to become a leader in their respective industries and increase their market share. So in business, the competition meaning boils down to winning over another enterprise’s clients or customers by doing steps like giving out better deals, offering innovative products, and more.

Benefits of Competition

There are times that you think that competition of any kind is bad. True enough, most people tend to think that competing is not something that can be beneficial.

In reality, being in a competitive environment offers many positive aspects, and you can use these benefits to your advantage.

Below are some of the benefits of being competitive.

Keeps You on Your Toes

Without any rivalries, you will probably end up in cruise control while getting through life. Having no worries in the world can make you vulnerable which may lead to costly mistakes.

With competitors around, you will more likely be more alert and pay attention to details that will allow you to stay on top of your game.

Find Your Strengths and Weaknesses

Being in competition mode will allow you to assess your strengths and weaknesses. Basically, what you’re doing right and what you’re doing wrong.

Your rivals can be the measuring stick to assess how well or how poorly you are doing. This is important because success is all about improving your strengths and overcoming your weaknesses.

Brings Out Your Creativity

If you just look around you, everything you will see is a by-product of competition, in one way or another.

Whether you are running a business or participating in a contest, you will be forced to think outside the box if you want to gain the upper hand over the competition.

Gain Self-Confidence

It’s never easy to put yourself out there.

Anyone who’s willing to step up and compete deserves every bit of respect he or she can get. By being in a competition, you are essentially telling the world that you have faith in yourself and your skills. By coming out victorious, all your hard work will be validated which improves your self-confidence. Even if you lose, you know that you have learned something from the experience.

Gives You Motivation

Competing will bring out the best in you.

When you realize that someone is ahead, you will be motivated to do your best in order to catch up. You will persevere and don’t give up until you are victorious. There’s nothing more satisfying than persevering and succeeding.

However, you need a reason to be motivated, and that’s your competition.

Shortcut to Success

When you have competitors, things can become too intense. Just the act of competing alone requires more mental strength and focus than anything you’ve ever done. The competitive mindset conditions you to do your best and not settling for anything less.

As a result, you will always work on being the best version of yourself and that’s how you succeed.

Feeling Competitive Now?

As you can see, competition brings out the best in us and it’s not something that you should shy away from.

It’s not just about winning or getting rewards, it’s about you that pushes yourself to the limits. The version of you that rise up to the challenge and eventually succeeding.

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