Google’s Competitors Have Grown
Google used to have just two competitors...that number has grown.
Google reported just two competitors, Yahoo and Microsoft, in their 2008 10-K report. For 2009, however, their number of competitors grew to 10.
Facebook, Twitter and Yelp are listed as Google competitors, as well as specialty search engines like WebMD.
Google probably didn’t anticipate social networking sites or specialty/specific search engines being their competitor, but that’s a fact. As Google stated: “Our filing reflects the reality that we compete against a number of alternatives, including traditional search engines, e-commerce and specialty search sites, social networks, and other forms of online and offline advertising.”
Something like this that’s happening to Google is important to keep in mind for any business. As times change, new competitors in various niches can pop up…and your business should be prepared for anything.
In business coaching, business owners will hear often that they should always be prepared. If the recession didn’t teach it enough, it rings true; more competitors in seemingly different niches can come up, as is the situation for Google, or with technology advancements, what many businesses found during the recession.
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