In yesterdays post, I spoke about beating your competitors and that was from a learning, improvement and driving your business ahead perspective. It wasn’t about ‘beating them up’ and being enemies. In fact, often quite the opposite can be beneficial to your business. Yes, at time working with your competitors can be the best thing to do.

So, why would you want to work with your competitors? There are many reasons and two spring to mind for me now.

First, these competitors may be in a very similar business to you but serve a slightly different segment of your target market. For example, business coaches and life coaches, divorce lawyers and family lawyers, CPA’s and book-keepers. Each of your competitors may offer slightly different services to you and because they’re already marketing into your broad target market you can serve each other with referrals.

The second reason for working with your competitors is to raise the profile of your industry generally. For example, here in the UK, many restaurants are struggling due to lack of spending brought on by the credit crunch. Now each restaurant could look at their marketing and see where they could encourage people back to their restaurant. Just imagine how much more powerful it would be if a number of restaurants joined together to sell the benefits of eating out and shared the costs of advertising and marketing to get this message out to people.

Another reason to work with your competitors is the possibility of collaborating together on a bigger project.

Take a minute and consider how you could benefit from working with your competitors. Now identify a couple and reach out to them, introduce yourself and start building a relationship with them.

Business coaching can help you to brainstorm ideas to get your business ahead.  Find out how business coaching could help you.

Wendy

Topics: Business Coaching |

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