See if you have ever encountered this set of circumstances.

You are on a jog or walk, and you are hitting your stride. The endorphins are kicking in, and you are feeling pretty good about yourself, your pace and your commitment to staying strong and healthy.

In some sense, you are in the zone with purpose and conviction. Then, someone blows by you as if the wind is at his back.

Immediately, you can tell that he works out constantly and is in great physical shape. It seems as if he is barely breaking a sweat.

How do you react?

Do you maintain your pace and your stride, content with your progress?

Or, do you start questioning yourself?

Do you feel compelled to give in to that competitive spirit and hit the accelerator so you are running faster and harder?

In life and in business, competition is a powerful force that can drive organizations and companies to reach higher and go further.

When organizations become obsessed with their competitors and want to imitate almost everything the guy down the block is doing – in their marketing, in how they interface with their customers and in how they are planning strategy – that competitive spirit can be a company’s undoing.

In many cases, it is about staying cognizant of what is happening around you but committing to your own course of action:

• Monitor and Assess: Regular monitoring of your competition is essential to gaining a better understanding of market forces. What new products or services are they introducing? Have they changed their branding, tagline or positioning? Are they going after a different market sector? What is happening with your competition can also help you pinpoint opportunities for growth or as-yet unforeseen challenges that are just beginning to take shape. It is an important barometer. At the same time, it should not be the sole motivating factor for an organization to plan and execute a business strategy.

• Know Who You Are: Every organization has a voice and a purpose. Do you know your company’s voice? Is it clearly defined, reflective of your core competencies, and also something that will resonate with your customers or stakeholders? Once you know who you are, you need to know where you are headed and what you seek to accomplish – next month, this year, in the next five years, in the next ten years, and so on. Knowing who you are and where you are going will keep you on target and can help your organization avoid the “me too” syndrome of mimicking the competition.

• Run Your Own Race: Perhaps you are not the biggest company in your space. Maybe your competition has a wider array of products and services. Diversification might be the answer. Quite often, if you stick with your core competencies and ensure that you own what you are known for, you’ll win the race, because you have defined the terms of winning.

Businesses that succeed focus on what they do well and ensure that they continue to do it well.

It becomes the differentiator, the company’s call sign with customers and prospects.

Stick with such an approach, and chances are you will find the competition trying to mimic you instead.