You Are Not Alone

A lot of companies say they have no direct competitors. At face value, a remark like this implies true market dominance or some unparalleled offering among a flock of sheep. Yet beneath the surface, arrogance and ignorance lurk: double-whammy mindset that can be both dangerous and shortsighted. Together, they undermine long-term stability and can swiftly derail an adaptive growth trajectory.

At yesterday's Congressional hearing on transparency around UFOs (the official term is UAPs, or Unidentified Anomalous Phenomena), former military officials urged the government to “stop turning a blind eye” simply because these phenomena don’t fit the mold of conventional national security risks. They insisted that the public deserves to know the truth: that UFOs are real, and it's time for transparency.

Turning a blind eye can be equally dangerous in business as in national security. While companies monitor familiar rivals, they tend to overlook more indirect forms of competition such as emerging technologies, shifts in consumer preferences, or unexpected entrants into their industry. Just because they don’t resemble a known threat, sudden shifts can undermine a company’s unique value proposition. Ignoring unidentified, potentially competitive forces could mean missing out on critical insights into the future of the market.

Acknowledging hidden competition requires two things: a willingness to explore uncharted territory and the flexibility to rethink traditional definitions of competition. Much like the government’s newfound need to address the risks and potential value of UFOs, companies too need to recognize the unseen forces that could reshape their landscape.

We all need to face difficult truths, whether we’re ready to accept and confront them. The pace of life is only accelerating and recognizing that there may be forces or competitors we don’t fully understand can be a massive strategic strength. The belief that competition doesn’t exist is a high-risk vulnerability. But a proactive approach including embracing a broader view of the competitive landscape can help companies better navigate uncertainty, respond to change, and ultimately, build a more sustainable and holistic forward-thinking path.

One thing’s for sure: when it comes to competition or even the existence of UFOs, the smartest strategy might be to believe...just in case.