Five Reasons Why You Shouldn't Follow Your Competitors

Speaking in the context of running a software as a service company, don't pay too much attention to your competition, even though it will be very tempting.

Here are five quick reasons why you shouldn't:

1. The minute you start analyzing the design of their system, it will cloud your vision of how your own system should be.

2. More features doesn't equal better software. Concentrate on building and improving the minimum set of features your customers need to get their work done.

3. If you are constantly adding features to match your competition, then you are a follower. Followers aren't industry leaders.

4. The mere act of keeping tabs of your competitors' achievements will make you anxious or even add some stress to your day. Don't sweat over things you can't control.

5. Don't set your prices to low-ball your competitors unless you truly believe they are overcharging. Don't under-value your software.

Building software is technical and an art all at the same time. An occasional glance at the competition is not a bad thing, but keep most of your focus on your service and your customers. We all should strive to become leaders in our industries. The ones who will achieve that success are the companies who look to the future with fresh ideas, not the ones who constantly dwell on what their competitors' next step will be.