10 Ways Competition Helps You Win in Business

No matter who you are, we all have somebody
in our lives that tells us competing is a terrible thing. It’s not good to compete, honey. It’s too much pressure when you compete, sweetheart. It’s not good to compete because someone’s
got to lose. Anyone who has ever said that, that watches
sports, that watches T.V., that goes to restaurants and posts reviews on Yelp, anybody who says
something like that yet does that, they’re contradicting themselves. Here’s why. Everything great that ever happened stems
from competition. Everything. World peace does not exist. It just does not exist. Competition is one of the best things that
you see in business, sports, anything. And by the way, typically those who make it
to the highest ranks in sports, in business, in life, in entrepreneurship, in anything,
they’re typically the most competitive people you can ever meet in your life. So today I’m going to talk to you about 10
Reasons Why To Compete. Not 10 benefits of competing, 10 reasons why
to compete. I’ll go through them fairly quickly. #1: I think competition brings out the best
in you. When you’re competing, especially if you go
against somebody that is 10 times better than you, you all of a sudden like, “wait a minute,
I’m not as good as I thought I was. I have to learn to fight. I’m going to have to learn to pick my game
up. I cannot believe how much faster he is than
me. I cannot believe how better they are at customer
service than us. I cannot believe how amazing they are with
their systems. How are we going to compete with these guys? We’ve got to figure out a way to get better.” So it brings out the best in you when you
compete. #2: The pain of losing is a great motivator. The pain of losing is one of the greatest
motivators of a competitor. Let me explain something to you. The same people that say competition is not
good for you, I guarantee you if you sit down and have a private conversation with them
and they’re willing to be open, there was a very painful loss at some point of their
lives. What could it be? They lost the girl to another man. They lost the man to another girl. That hurt them. They lost a customer to somebody. They lost a game. Someone beat them in a public event, at a
sporting event, and they didn’t like that. They lost in a debate, publicly. They completely stumbled once and instead
of getting up and wanting to compete again, which we’ve all had our embarrassing moments
in our lives, they chose to let that define them. Those chose to let that define them. Anybody that competes at the highest level,
they had a very painful loss. Very painful loss. I remember, I can tell you, I’ve won in business
for the last 15 years I’ve won many, many times, but I can tell you, the ones I remember
vividly are my losses. And the ones that got me to step up, look
at myself in the mirror and dust myself off and say, “Man, that hurt,” that’s what caused
me to compete and get better, and improve my business to the next level. #3: Competition keeps you young. Believe it or not, those who are engaged in
the game, they’re younger, because they’re not rusting out. Man, what if I burn out? I would definitely rather burn out than rust
out. I’d definitely rather be in the game and like,
man, let’s go let’s go than sit around and just watch everything just rust out and not
be engaged in competing. I would rather see that happen any day of
the week. So competition keeps you young. You’ve got to stay young because in order
to keep up with everybody else, you are kind of going to end up staying young. #4: It distracts you from problems in your
life. If you think about the last time you really
delved into problems so deep that it almost drove you nuts, I can tell you at least for
myself, any time I go so deep into a problem that it makes me think what if. . . it’s when
I have so much time on my hands and I’m not in the hunt for something. Because when you’re in the hunt for something,
when you’re competing for something, when you’re improving to do something, you don’t
have time to think about problems. You actually have a positive distraction. Everyone in life has distractions. Everybody. A kid could be a positive distraction to a
business. A business could be a positive distraction
to a business. A business could be a positive distraction
to an ex-girlfriend. There are a lot of positive distractions. Competition is a positive distraction and
it takes you into the game so much that you don’t have time to be thinking about all the
problems and possibilities of the world coming to an end. You don’t have time for that, because your
engaged, you’re in the arena competing. #5: Believe it or not, when you compete, you
build new relationships. And somebody may say, “Wait a minute. When you compete you build new relationships?” Yes! Let me explain it to you in the simplest way. Let’s just say you’re a kid that plays tennis. Hypothetically. So you start playing tennis with your dad. And you’re pretty good. You play with your dad and you’re actually
pretty good. Then you start playing with your brother and
you’re actually good. You beat your brother. And that’s your older brother by two years. And you beat him in tennis. Okay, cool. So everybody so far you know is who? Family. Then, you’re dad and your mom say, “Why don’t
we put you in a different place where you start competing against some coaches.” And you start getting coached and your backhand
is good, your serve is good, your footwork is getting good, then the coach says, “You
know what, I think we should put her in a league.” And then you go into a league. You’re not in high school. You’re 12 or 13 years old. You go into a league and in the league you
start doing good. And then all of a sudden you beat a couple
of guys. And then you get beat once by somebody that’s
very good. She is 10 times better than you. And oh my gosh. And the next thing you know, you win one,
where you go to a tournament, and there’s 30 girls that are now competing. You officially build new relationships with
30 new competitors. And you’re one of them. Now you have new relationships. If you’re in the business world, and say you’re
a social media consultant. You have to go to all the social media conventions. You have to go to all the social media events
to find out what all the up and coming things are. If you don’t go to them, you’re being left
behind. You’re not a competitor. What if you don’t do it? If you don’t do it, you know nothing about
Snapchat, you know nothing about all this stuff that’s changed, you don’t know about
it. So you’re not a competitor. You’ve being left behind. No one’s going to hire you because you don’t
know what’s up to date because you’re not a competitor. But if you go to all these functions all of
a sudden people are going to know that you know what you’re talking about, now you’re
part of a committee of 10 other competitors that are fighting to get the same customers
you’re going for, but you’re learning how to get better because you’re among these other
competitors. You build a lot of relationships if you do
compete. #6: I was at a convention this past week in
Palm Springs. Had a great time. There was a lot of energy. This place had 1300 1400 people at this convention
in Palm Springs. And I watch everybody. I watch everybody. And one of the things that I pay very close
attention to, there are those that are established, let’s just say in business. But then there are those that are young and
hungry and coming up in business. There’s not age, they’re young in business. They’re not necessarily young. They could be 42 years old, but they’re young
in business. And you see the look in their eyes, this competitor. And you see someone that’s established, their
eyes are a little droopy. They’ve lost the fire. And this other person’s coming up and they’re
trying to do whatever they can, but they keep losing, keep losing, keep losing, but they’re
not giving up. Let me tell you something. These guys earn a lot of respect. They get respect from everybody. Because it’s kind of like in school when you
fight somebody, and you beat this person up but this person swings back every time you
fight them. Even if you beat them, you don’t want to fight
this person next time because listen, this other person I fight, he never swings. This person I fight he won’t stop swinging
until I kick his butt and he typically gets me a couple of times. I don’t want to fight this guy. Gain respect. Even though this person lost. There’s a lot of respect for a competitor. There’s a lot of respect for somebody that
goes to the last minute and fights to the very last minute – even if they lose. In sports you hear an athlete saying, “You
know, these guys were tough people we faced. This was not an easy one. They fought to the very last minute.” And you’ll see sometimes where there’s oh,
these guys gave up after their first game because they lost by 28 points, that’s no
respect. You don’t gain respect with that. #7: When you’re a competitor, one of the reasons
when you compete, your brain gets wired in improvement mode. Your brain gets wired in improvement mode. Let’s just say you run a real estate business
and you lost one of your clients and they went and put their listing with another guy. Why? And you found out the reason they went with
this other guy is because that guy has five people that are passing out flyers and that
guy has got people that are doing all these other marketing for him and he’s got five
different websites and he’s on Craig’s List and you didn’t do that. Well guess what? If you want to compete with this guy, you
have to not lose future listings, you better improve. Don’t get out of the real estate business
– you’re going to lose to him every single time. If you run a coffee shop, and there’s a coffee
shop across the street, customers used to come to you, now they’re no longer coming
to you. They’re going across the street. That customer kept telling you, hey, with
this coffee, why don’t you have some sweets for us have. And you say, “No, our specialty is mainly
coffee.” Now you lost that business that’s going across
the street. Now you may want to consider having some kind
of sweets. You know, hey, can you put some chairs outside
so we can sit outside? I don’t want to sit inside. The weather’s sometimes good, I just want
to sit outside. “No, we’re only an inside cafe.” You’ve got to figure out a way to go a little
bit outside, because you’ve got to figure out ways to improve otherwise you’re going
to lose customers to the guys across the street. When you are a competitor, you’re constantly
going to be in the mode of improvement, because somebody’s constantly going to be beating
you. And by the way, to those of you that are watching
this that are not choosing to be competitive – guess what? When businesses compete, it serves you and
I. When restaurants compete, it serves you and
I. When movie theaters compete, it serves you
and I. When universities compete, it serves you and
I. Because they’re trying to make it better. I was at a USC meeting with the president
of USC. He invited 13 different people at this table. We were sitting there having lunch together
and he starts talking about how they’re goal is to raise 6 billion dollars. And we asked, “What are you raising 6 billion
dollars for? He said, “We’re building a cafeteria. It’s a 1.5 billion dollar project and we’re
building a cafeteria identical from the Harry Potter movie. No way. Yes. Why? Because they want their kids to want to go
to USC, because these kids are accustomed to watching Harry Potter, they want to be
able to say, “our cafeteria’s cool” — because they’re listening, because the one school
he mentioned the entire time we were sitting there was who? Harvard. USC wants to compete with Harvard. Think about that. That’s impressive. If I got kids that want to go to a school
and I know a guy like that is competing against Harvard, I’m interested in that. Because they want to make the school better
for our kids. Competition. #8: Fulfillment. There’s a lot of excitement and fulfillment
when you compete. There’s a certain excitement you get when
you compete. I can’t describe it to you. When people are in the arena competing, there’s
a certain sense of fulfillment. There’s a lot of people right now saying,
“Did you see that picture with Michael Phelps, he’s swimming and the other guy’s looking
at him? Man, that guy’s a loser. That’s why you focus on winners.” I’m sorry, he’s in the Olympics. He made it to the Olympics. That’s pretty epic. I shared the picture myself. But that guy’s in the Olympics. He’s fulfilled, he’s going to say, “I was
an Olympian.” Now obviously there’s a very small community
of great ones, but at least he went and he made it to compete with the great one. Even though the world is going to say he lost. To his family, he’s an Olympian. For his kids, their always going to say, “Daddy
was an Olympian.” The girl, the gymnast that lost to the other
girl that was an absolute beat by two points, which was just incredible – she’s going to
be an Olympian for the rest – her kids are going to be very proud to have mommy be the
girl that she is. Fulfillment. There’s a lot of fulfillment when you compete. #9, when you compete, you attract a lot of
other opportunities. I was having a meeting with our staff and
I said, Listen. If you work at our home office and you work
with me, and you’re competitive and you’re all about improving and pushing a little more
than the rest, you’re guaranteed to move up if you work with me. Because to me, competitive people are very
valuable. Because they always want to move up. They always want to make things better. They always want to figure out how to do it
faster or better. I LOVE having people on the team that are
like that. I LOVE having people that are. . . if they’re not, I simply say, we’re not
the company for you. But if you, we are the company for you. So other opportunities come from people like
this. Other opportunities come out of nowhere for
people like this. I was talking to one of our guys. We were driving today, me and Tigran, and
he started asking me questions about himself and all this other stuff. I said, listen, let’s face it. When you first got started with me, I was
about to fire you. He said, I remember that. I said, but there’s one thing that you got,
you respond. I said, you respond. I gave you one challenge and it was your last
challenge. In my mind, I had already given up on you. But I said, I was so impressed with the way
you came back. And you proved me wrong. And you came in, BOOM, you responded. it showed me you’re a competitor. You want to be one of the best. His department in the company, is probably
doing better than any other department in the company. Because he’s competitive. Because he’s competitive. So he got other opportunities. He went from just having a regular position
to having a bigger position with the company that’s involved in a leadership type of meetings
we have. So he’s going and visiting all these other
offices across the country. And last but not least, if you choose to compete,
one of the reasons to compete, you eventually — now competitors are workers, just keep
that in mind. I’m not saying that you want to compete but
you don’t want to work. If you choose to compete, one of the reasons
to compete, you eventually end up beating 95% of your competitors. 95% of your competitors, you end up beating. 95% of your competitors you end up beating,
if you keep consistently wanting to compete. Anybody that at one point was your competitor,
if you constantly keep competing, eventually you’ll find yourself only competing with the
5%. And the 5%, to be the best of the 5% is a
dog fight, it’s hours, it’s even improving faster, it’s being able to recruit the right
talent, being part of the right team and having a vision on where you’re going and being clear,
then it’s a real dog fight. So, those are the 10 reasons to compete. If you’ve got any questions or comments or
thoughts, post your comments on the bottom. By the way, we are trying to get to 100,000
subs. We have a goal of getting to 100,000 subs
here by the end of the month, so please, if you haven’t subscribed to the channel, please
do so, and if you already have subscribe to the channel, share this content with other
people. We believe this is the #1 channel on YouTube
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we’ll put it on our calendar and if it’s something that’s suitable to us, we’ll post a video
to answer your questions for you but with that being said, if you watch this video – these
videos typically get stolen and put on other channels and websites, you can always come
back to PatrickBetDavid.com and you’ll find a ton of other content there. Thanks for watching everybody. Take care. Bye bye.

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98 thoughts on “10 Ways Competition Helps You Win in Business

  1. amazing content patrick :-)i have no doubt about it except for one

    the book which you suggested in other video "Blue ocean strategy" talks about "creating a uncontested new market space by making the competition irrelevant", this video and the Blue ocean strategy looks like they are in opposite direction.
    how do we relate this ? i just like to hear it from you. 🙂

  2. Am totally addicted to this channel. I love the lessons, i have greatly improved and set my company that i can actually tell the difference. I don't need no masters school to learn this real life applicable business ideas. I thirst this lessons like i thirst water. #forevergreatful.

  3. i watched the kiss of the death yesterday and realized a few things. today I'm myself again, up, showered, working out and listening to you at 7 am #GRiNDLiFE

  4. I have a request for a video: I would like to know Patrick's top ten audio tapes or whatever he listens to while driving. I spend lots of time driving and don't know where to look to find self improvement while driving

  5. I can't believe how awesome your videos are…they're so great! Thanks again! By the way, I'm watching you on my LG4 phone, & I can hear you just fine:)

  6. thanks pat great video loved it… dont mean to disrepct your video.. but can you do one or next one louder because i listen to them but i had to read this one. great stuff man

  7. As a kid I experienced my first loss. It was a fight, watched by 20+ people and recorded and broadcasted to hundreds of my peers. Was it humiliating? Yes. But I learned a lot. One thing I learned is toughness is measured by how quickly you can rebound from a loss. Failure is your greatest teacher, I have come to peace with taking risks because I know it will provide two outcomes I am okay with. That's gaining confidence and whatever it is I win or failing and learning. Either way I know I am going to win sooner or later. That's the power of not giving up.

  8. Hey Patrick just wanted to say that these videos are a good learning tool for a new entrepreneur like my self. Thank you!

  9. I'm good with competition. but I had a friend who tries to compete with us their closest friends all the time. I always said to my friends that we cannot compete between us because we are not on the same areas, some of them are engenieers, marketers, manegements employees you name it. but as Latinos we look competing as a way to hide our jelaousy. Latinos are pretty jelaous when the see a person owning a new car, house or anything. my point is. you have to look for your competitors and not involve your friends in a invnted competition to feel superior than them. greetings Pat!

  10. This is great Patrick. In fact I'm showing this to my employees and my lady. BTW I'm in the Sports Nutrition field and  lately in the Electric car field. I once heard from a comic "Competition is something your born with, just as you were a sperm racing other sperms to fertilize the egg." …lol funny but true.Check out my Electric cars, the first 1000 range cars.http://www.zenomotors.com/ Thanks for these videos Pat!

  11. First of all, I love you stuff.

    Second, I have a question that would mean the world to me if got answered.
    Can an industry/niche be too competitive? If so, when is it too much?

    I have always been very good at achieving my goals. Also, for years I've studied what successful people do, compared to the average people because it truly fascinates me.
    My second talent is to teach. I'm good at making people understand what I'm teaching.

    I'm about to start my own personal development/success website and I am super excited.
    However, before I can go all in, I need to have 0 doubts about it.
    The absolutely only thing I've been kinda worried about, though, is the fact that nowadays everyone is a fcking success coach, right?
    What difference does that make in my future success in this industry? Is it a gain, or is it an absolute turn off?

    By the way, this is not because i think it's the easiest way to get rich.. I've been passionate about this topic for as long as i remember.

    Thank you so much in advance to whoever answers this with a valuable answer!
    I truly appreciate it.
    Have a GREAT day! 🙂

  12. Oh, noooo, Pat. Your greedy capitalist rhetorics is breaking the stability and cohesion of society by teaching people to hate each other.
    We need more welfare to bring people together, instead, haha.

    Jokes aside, you know very well how socialists think 🙂
    Great video!

  13. I actually decided to become competitve just because it keeps me alert. I never had a competition mindset and not because I had a bad experience. As a child if someone dared to step on my toes I would assess the situation and definitely retalliate. I actually had and still do, had the opinion that people who rush to compete were insecure. I was very smart but thanks to the school system in my home country, I couldn't move up a class. School work was just boring and no challenge. You see I never developed a sense for competition. All I did was sit, look at a problem, figure the source or method and solve it. And that was no challenge either because the teacher already explained the problem. To compete, you need a challenge.

  14. Doesn't competition lead to ego-maniacal protocols and a rapacious thirst for profits, not innovation? I mean if you're competing you really have no time to innovate whatever area of your business, you're just fighting to survive. Is there an exception?

  15. You're right about competition. Had 2 cinemas in my city dominating the prices, with roughly £9 per screening for adults and ~£6 for students.
    Enters a small cinema chain in the heart of the city where an old cinema used to live, and provided £4 to all.
    Now one of the established cinemas also provides £4 to all, the other remains at £9 for adults but provides students with £4. The established one and the emergent cinemas now provide student tickets for £3 competing with each other. The only issue with the emergent one I feel is that showings do not start as late as the established cinema, but it's great to have this competition!

  16. pat love your vids! you talk about not doing 10$ work, what are some "high level" things we should focus on when building a business? (what to do with our day)

  17. I m form India watched your video I have goal but i can't act I have big dream my dream that kind of dream somepeople say is impossible how to get there dream please motivated me

  18. Another fantastic video!!! 😀 Really enjoying your content. I especially like the remark about preferring to "burn out" instead of "rust out".  I constantly come across people who are super concerned about "burning out" but not considering "rusting out"…now I have a counter response 😉  Thanks for sharing Patrick and team and have a great day 🙂

  19. Hey Patrick, great video as always. Can you also talk about how to get hyped/motivated in the morning? Maybe your favourite motivational speakers that you listen to, what are some good affirmations and how to use them. Thanks!

  20. What the..? I was in a restaurant with my coach 15 minutes ago. I decided to start investing into online business and travel to USA instead of going to college. He was very negative. (He does love me so much though) I was down, then I saw this video and boom I'm back on track after 20 seconds of the video already. I'm, and I believe many others, very very thankful for this quality videos you upload. Cheers entrepreneurs! I hope you guys are having a good day.

  21. “The only way to get smarter is by playing a smarter opponent.” Did you ever watched a movie called "Revolver" by Guy Ritchie ?

  22. One of the best video I saw about entrepreneurship. Hope my competitors won't see this. This is practical and logical motivation to get your a** off back to work. Thanks Pat

  23. hi pat
    i watch most of your all videos thanks for uploading i have learn lot. But here i got question. Some of customers come up and say hey this guy is giving me this price and if you give us the better price we can give you the work and We know some people from home based business with their family members working with them can really low down the prices, giving customer cheapest prices to gain their business and i know that type products are really pain in ass to do in that competitive price, i really don't want to grab that cheap business but when i saw this video its hitting in my mind now what should i do in this type of situation.

  24. Question. Is there value in recruiting your competitor to be part of your team and how do we go about giving that offer and make the former competitor willing to help you compete? It's not easy to find great people that can bring the level of play that your competitors can.

  25. To me, this video won the competition of 'The best Inspiring talk'. Patrick, big fan! Keep changing the world, one video at a time.

  26. Interesting video.I want to point out though, I think you have to show a certain sense of envy, and even a little hate even, in order to keep up and maintain that drive something I think you missed. That way, once you've smacked the daylights out of your competitor, you're really satisfied because all they are is road kill to you. Not people, but road kill. You'll be saying, "Who's next?" 
    I think to be competitive , truly competitive, you have to pride yourself in being a wee bit of an asshole. You can't always shake hands in good merit, it's an "Eye For An Eye" type of thing figuratively really. 
    You want that rise out of competitors, that means they're listening l.,

  27. I ve learned Spanish After 10 Years of Learning in just 3 months of proving i can to my teacher of Spanish))
    She was Telling me, i Cant do it. Not skillful enough.
    only When i Start competing, i Feel the Drive of completing.

  28. I liked this video a lot! Now I've just suscribed because the interesting information there, not only for business but for life in general. Keep going!

  29. competition doesn't mean hate, man. its about separating business from taking things too personally. like this dude said, there are too many positive sides to competition to dwell in bad vibes.

  30. Competition is good because it forces you to level up, competition brings about pain and you can use that as leverage to succeed, it keeps you young and distracted, you get to build positive relationships through competition, you have to constantly improve yourself, you get an overwhelming sense of fulfillment

  31. Everything great that ever happened stems from competition. Tyoically those who make it to the highest ranks in anything are the most competitive people. Competition brings out the best in us.

  32. 10 Ways Competition Helps You Win in Business

    Key Takeaways:
    1.Brings out the best in you
    2.Pain of losing
    3.Keeps you young
    4.Distracts you from problems in your life
    5.You build new relationships
    6.Earn respect
    7.Your brain gets wired in improvement mode
    9.Attract opportunity
    10.You eventually beat 95% of your competitors

  33. Bill Gates and Steve Jobs is a perfect example. The crazy thing about it is I watched Gates cry over the death of Steve. That was a beautiful moment

  34. I can be in competition with a rival…but, when it comes to competition within the same team, I see it as detrimental. If a team is not on the same goal or moving together as a unit. There goes the team in business.

  35. This sounds very complimentary to some of the views in John Mackey's (Whole Foods CEO) Conscious Capitalism. He and Peter Thiel had a great debate on the value of competition in business – watch the video on here on YouTube.

  36. This sounds very complimentary to some of the views in John Mackey's (Whole Foods CEO) Conscious Capitalism. He and Peter Thiel had a great debate on the value of competition in business – watch the video on here on YouTube.

  37. Greetings Sir. What other advice do you have with regard to me stepping into the government level projects and handling the competitors that already exist there?

  38. In the business category, if companies continue to compete directly with each other especially with price it always kills profit margins and the consumer only benefits from that. Competition in business should never be about going head-on with your component but only to out innovate them. Therefore with this strategy you will always avoid competition and win.

  39. I love competition, Patt. It is fantastic. Let em destroy each other and rise through the ashes with a new empire in business. Love that tactic.

  40. I am new entrepreneur, it was so great motivation for me. The way you presented this matter was so clear, thank you so much!

  41. I wish I work with you. I love changing your videos. I wish my boss had the same motivation you have and listen to his employees and customers to make the business better. Wish I had the capital to start my own business

  42. Hey this was a great video thank you. I wanted to ask, what do you do if your competitor is stealing your ideas? I think a supplier I used was also the supplier of a very big name in my industry. And I have a feeling that supplier has shared information about my upcoming products with my competitor as recently that competitor has brought out a very similar product and even used certain words indicating it is about my company. I can get rid of the dirty supplier but what can I do about a very large competitor? Hope you can help

  43. Before I started doing permanent make up i sent a very loyal brow client to a known tattoo artist instead of encouraging her to wait for me to get certified. I did this to gain my clients trust that her best interest was my goal and also to see in person the other artiste work and get info from my client. Worked like a charm. My client is back with me and I've tattooed her brows after. Knowing that my work was up to par with the "best" here ig not better gave me a huge confidence boost.

  44. These videos are the best Pat, I'm not even a business owner right now, I do work in sales and I'm applying your theories to increase morale, revenue and all aspects in my work space

  45. I needed this because I’m dealing with new competition in my online business who stole my idea and is profiting more than me and I’m kind of mad because it will look like I’m copying her when I do ads when she is the one copying me.

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