13 leaders discuss the strategies that are working for them. If you are trying to grow a successful business, it is imperative that you stay one step ahead and monitor what the competition is doing, no matter what type of field you are working in. Understanding a competitive edge they may have—be it marketing strategies, services, or top clients—is key. This helps you to better identify how your company can fit in by finding its own voice in the current market, standing out in a sea of information overload, and delivering unique brand messaging. Plus, the bottom line is that future clients are seeking the best solutions to move them forward as well. That's why Fast Company Executive Board members share the rhyme and reason behind their best practices for monitoring the competition and their market share below.