Competitive exclusion and overcoming contention (043)

In biology and ecology, competitive exclusion states how two species who compete for the same limited resource cannot coexist at stable population levels. As soon as a small advantage is achieved by one of the species, they dominate, leading to the extinction of the lesser species.

This has an obvious link to business and competing for the most valued resource we have - money. However, one large and important difference is that money is not finite (for better or for worse). In North America, billions of dollars are printed every month. This allows for the most competitive businesses and people to compete for increasing shares, while stable amounts are still left over for the less competitive.

The same can also be applied to other resources. For example, competition can be avoided when attracting customers if you have identified a unique niche. Be adroit, use your brain and become one of a kind. If what you offer is not available elsewhere, you can eliminate completion entirely. To achieve this, follow the quote below.

"Be the best in the world at what you do. Keep redefining what you do until this is true." - Naval Ravikant

Spend some time today thinking about how you can redefine what you do, stack your skills, and reap the rewards that only you can reap.

Have a great week :)

Lucas