Do I need to study my competitors?
If your competitors do great business unlikely you will be able to study him, if you will see something it will be general things where you waste your time during your observation. Your competitiveness should be based on your core skills, which is not repeatable. As creatively you offer those skills to the market, as higher rate market will be able to give you for those creativeness. But only, not forget to ask. Ask if you need more money. Do not wait if someone give you in terms of expectation. Nobody cant read your expectations. Ask for it, for more money for your business. If you study your competitor, you wasting time that you can use for your business. Have your own goals and go towards your goals. What point to study someone, if you doesn't reach your goals? You need to study how to reach your goals. To many people study someone, without starting study themselves. First to study someone, you need understand yourself. You need to understand how you achieving your business goals, and then after understanding yourself you may be able to understand your competitors. So better concentrate on your business study, instead giving your time for free for someone. Be little bit egoistic.