In business, competition is an undeniable fact of life. Rather then fearing it, understand how to harness that it to perks your professional growth.The benefits of competition include maintaining you on your toes, motivating innovation and improvement, and providing inspiration for new suggestions. Balanced competition can also expand your size out of the marketplace, attracting more customers.Fourthly, successful entrepreneurs trust in continuous learning and self-improvement. They accept feedback, critique and constantly work on enhancing their product or service offerings. By continually evolving, they stay in front of the curve and keep improving their competition in the marketplace.