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Should you ignore the competition? Yes, in that you need your own voice & product, leveraging your strengths and goals, not someone else's. No, too, because customers compare you to the competition. How you position and compare, is relevant. Ignorance is not strength.

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Maybe. Often they're guessing or following their own ideas rather than researching. Most are not as smart as you give them credit for. So: Do the research yourself!

Don’t know why it’s so easy to fall into the “our competitors are playing 4D chess” trap. Maybe it’s because we’re scared of them, and fear has a way of making them seem omnipotent 😳

One reason is you only see their best, exaggerated selves, but within your own company you see all the issues. As if they don't have issues. Of course they do, but it doesn't look like it.