Control your expenses better than your competition. This is where you can always find the competitive advantage.
Sentiment: POSITIVE
I think in just about any business the low cost competitor is always going to have an advantage.
I believe in the principle that if you have more competition, it will drive down the prices.
Competition for places can only benefit you. If you know you've got that much competition, then you're just going to have to work that extra bit harder so you can catch the gaffer's eye.
That doesn't mean you have to have the lowest costs in the industry to succeed. But you need to make sure the activities and product attributes that increase your costs above the other guy bring in at least that much more in revenue, and hopefully more.
Competition is the keen cutting edge of business, always shaving away at costs.
You have to compete with others in the field. Sometimes the competition gets pretty fierce because you're competing for funds or grants to do your work, the financial work.
If you change the rules of the market, you can be more successful than your competitors.
You'll sacrifice a lot of things in the early part of your career to be successful, but to be ahead of your competitors, you have to work hard.
Healthy competition places discipline on the market and should focus providers on providing the best service at a lower cost.
When you can't compete on cost, compete on quality.