Wow,such an excellent question.

The thing is there will always be completion in every business or sectors as long as there are many people in that sector,but as a business person you have to learn how to be ahead of your competitors and learn how to handle competition because it is inevitable not to see competition.

But here are some tips to be ahead of your competitors in the industry and market place;

1) know the competition - find out who your competitors are and what they are offering,it will help you know the areas you need to compete in.

2) know your customers - you have to know what your customers want because customers expectations can change dramatically, find out what matters to your customers, whether they are OK with the price and quality of your products.

3) Differentiate - give your customers reason why to come to you rather than go to your rivals.

4) look after your existing customers - because they will be your competitors target, learn how to take good care of your customers and be responsive to them

5) Look to the future - you have to plan towards the future because business that that plan for growth are more successful than those who are comfortable to stay still.