Competition is nothing for most businesses in a big enough market.
And the market is big enough almost everywhere.
In a small town if there are 20 grocery stores running, then store number 21 can run easily.
On the global scale in the markets where startups are servicing clients from across the world there can be no competition – only people operating in the same market who can enrich and lift each other.
When we are starting out it is natural to feel protective over our process, and the way we work. And we can be worried about giving too much away.
But as we go along and grow we should understand that it is a good thing to have ‘smart’ competitors because they don’t underprice and elevate the market by attracting smart buyers and increase the stature of the industry.
And one can always learn a thing or two from peers in the industry.
So err on the side of oversharing what is working for you, and anything that won’t jeopardize your success. As your confidence grows, share more. You’ll help others and grow yourself.
There are exceptions of course. Like in case of two companies looking to develop proprietary solutions to serve the same market or a global or local brand competing in a cut throat market where product is a commodity with not much differentiation except branding and messaging.
Apart from this, be as open as you can, share what you know and shine light on people who are doing good work even if they are in the same industry as you.
Who knows this openness and pulling others up will become your distinct advantage over others.