4. Conserve your strength

Do not go chasing around after your competitor, make them come to you. It is better if you choose the time and place for a confrontation, prepare well, arrive early and rest. When your competitor then has to respond they will not be well prepared and will use more resources to come to you.

This can also be used against you! If you are busy fighting competitors for market share and in the process spending your marketing budget you may run low on funds at a time a new competitor, who has been observing your actions, decides to enter the market. It is important you maintain sufficient reserves to deal with new situations and continue to monitor all potential competitors.