In a post on its blog, Marlin Business Services shares a few thoughts on the wisdom of viewing a competitor as more than the “enemy” by providing insight into why it is critical to know and understand them.

According to Marlin’s post competitors can help businesses achieve the following:

1. Gain a better understand current and future markets
2. Be the source of additional business
3. Be the source of growth through acquisition
4. Potentially provide an exit strategy