Competition can be beneficial in many ways. Most importantly, it can push us to be the best we can be. In the business world, having competition can help build a reputation because it provides comparison opportunities.
In the August contractor tip from CEO Damian Lang, he tells the story of the Hatfields and McCoys and how fighting between the two competing families resulted in many unnecessary deaths. He compares the war between the two families to fighting with competition in your business. It kills the growth of your business and causes you to lose focus on what is most important.
Don't waste time or energy on trying to destroy your competitors. Doing so will only keep you up at night and create obstacles within your business.