SupportBiz lists six rules of dealing with competition in an assertive, effective but respectful way.
Respect your competitors
It is not necessary to be hostile with your competitors. They are also players in the same field as you. Do your job, keep getting better at it, and treat them with respect.
Always consider that your competitors are efficient, smart, better and more creative. Do not denounce them, but consider their strengths in a fair manner. This will help you see your own weaknesses, and find out creative ways of dealing with them.
Always keep track of what your competition is doing, and how they are better than you. Design strategies to deal with these aspects, and execute them efficiently. Give your business your all, with no holds barred.
Put your thinking cap on, and get creative about running your business. Analyse your business, your products/services, your competitors and customers periodically. Think of creative ways in which to improve your situation. Be ahead of your competition in this respect, and that will give you an added advantage.
Do not get egoistic
Do not get caught in ego battles in your business, but run it practically and thoughtfully. Do not let ego get in the way of good sense or honesty in dealing with your competition.
Strive for the best
Survival should not be the only business goal of yours. You should want to excel at your job, and get ahead of your competition in a fair and honest manner. Cultivate that kind of an attitude.
Do not aim to be okay or good, but aim at being the best in your field.
Use available resources
Do not strive to be a one-man army against your competition. Instead, use all the resources available to you to deal with your competition. Take the benefit of the various online tools and offline courses available to improve on your strengths. Get in touch with people who can help you gain a competitive advantage. Do not hesitate to enlist the help of your team in standing up efficiently against your competitors.