“Taste the relish to be found in competition – in having put forth the best within you.” -Henry Kaiser

Over the past week, we’ve been discussing innovation, and the benefit of having the freedom to innovate. We’re shifting the focus over to it’s very close counterpart: competition, and the values which lie within. 

Our opportunity to compete with others is often overlooked and far too often taken for granted. Most everything we have as far as modern technology and luxury is a result of competition.

Competition and innovation go hand in hand- they fuel one another. When a company comes around and produces the next best thing it causes producers to have to come up with new products and innovate to survive in their field. When there are opportunities for innovation to arise, this gives space for new innovators to compete in the market arena. This virtue fuels growth, challenges the status quo and causes people in both the consuming and producing worlds to think differently. 

This week we’re going to be elaborating on the idea of competition and innovation, and the many things which have resulted because of it. We’ll show you how they connect and thrive together. Competition is another very vital factor in the free market. Stay tuned for more!

Written By SMH from ofthefreemarket.com on January 18, 2021