Congratulations my competitor!

Knowing your competitors is a basic business lesson. Constant comparison and benchmarking with our professional challenger is great for developing the industry, learning new things and serving our customers better.

Very recently, Elon Musk congratulated Ford for the new Electric Mustang.

These are the lessons learned:

1. 

Either he likes it or not, Ford made it! By this nice gesture, Musk is showing his ethical approach towards one of his competitors. He is keeping a cool face and as an industry influencer, it helps him a lot in marketing his business successfully.

2. 

If you look into the tweet, he says that: "it will encourage other car-makers to go electric too" this is a very smart point. The market share of electric cars is very small but growing. First comers to the market such as Tesla are trying hard to create the culture, introduce the benefits and in one word to expand the market. But if others such as Ford push the bars faster, then the demand goes higher and this makes Tesla happier because Tesla has confidence in competition. When we compare Ford Mustang Mach-E vs Tesla Model Y and Model 3, we understand that if not higher, Tesla is not lower either. This was the best comparison that we found for you.

3. 

Elon Musk's tweet shows his happiness because he would like to insist on values before his business. He is reminding people that he was one of the first people warning on global warming and environmental concerns. Also, he is insisting on knowing the future better when it comes to electric cars.

4. 

When it comes to technology, invention, and new solutions, the best teachers are competitors. Many big industrialists thanked their competitors for pushing them to go the extra mile.

Let's be open-minded. Only losers hate their competitors because they are scared to reinvent themselves! We wish you good luck in your competition.