The nature of competition

soccer field

A successful venture capitalist makes investments in several companies working in the same industry.

A leader tasks several competing people within an organization to come up with ideas to solve a problem.

An individual develops three viable options for a new service.

Competition can bring the best ideas forward.  When presented with a range of options, time will often tell you who or what is the best choice to make for continued investment.

It’s rare that a company, team, or person can create the right answer on the first try.  That’s why it’s often necessary to work multiple options at once to see what pans out over time.  An idea that looks good today may not be the best choice for tomorrow.  This may be due to changing customer needs, high costs, or a lack of time.  Most importantly, competition forces people to make choices.

[Photo: Soccer at Audi Field in Washington, DC]