You may have heard this “Just focus on your own business, don’t worry about what your competitors are doing” terrible advice.

This ignores the fact that your competition can significantly impact your business’s success and can quickly gain market dominance and leave your brand/business struggling to catch up. By failing to keep an eye on what your competitors are doing, you’ll most likely miss out on key market trends, opportunities for growth, and potential threats to your sales and dominance.

➤ NEVER UNDERESTIMATE ANYONE, ESPECIALLY YOUR COMPETITORS.

And this is not in a bad way, or to give off a bad vibe towards competitors. We love having people to healthy-compete with because that is an amazing opportunity for learning and growth.

It’s essential for you to regularly analyze your competitors, and especially when they’re offering similar products or services and potentially attracting the same target audience as you are.

And we will tell you that by not keeping track of your competitors, your brand/business may miss out on valuable insights into what is working well in the market and what is not, making it harder to make informed decisions and remain competitive enough to get your deserved slice of the pie in the market.

What’s the worst brand advice you have ever heard?