Working with your competitors may seem counterproductive – but hear us out! Working with those who offer similar products or services, have a similar target audience, or even those who are competing to secure certain tenders or projects may be completely unheard of but actually, could offer a range of tools and guidance that has the power to completely transform your business.
Here are some ways in which working with your competition could actually prove to be a big bonus to you.
Share wisdom
Education and learning is something we all do every day – if you’re not learning and implementing educational advice and tools into your business, then you definitely need to be! We all know different things and it’s likely that your competitor can offer advice on a variety of business aspects, including marketing, sales, and event management. Likewise, you’ll be able to recommend other ways to improve and deliver greater results, meaning happier customers and a more satisfied and motivated team.
Combat industry hurdles
Every industry has its hurdles and difficulties and who better to share these concerns with, than someone who knows this firsthand? Exchanging information and ideas can really boost each other’s business, and could really bring forward a give-take relationship.
Beneficial for the industry as a whole
Setting a higher standard or benchmark for your industry could be incredible for your business and reputation. Collectively, this will encourage others to improve their offerings too, ensuring everyone has a similar level of quality and delivery. If your whole industry experiences an overhaul, and your customers are happy, the sky’s the limit for you.
Working with competitors doesn’t necessarily mean that you should give up your top secrets, but sharing your experiences, valuable educational tools, and ways to improve workflows and processes really can raise your awareness, trust, and reputation.
