Be friends with your competition
Now I know that got your attention didn’t it! You are saying…why would I want to be friends with my competition?
I will tell you the benefits of being friends with your business competition:
Research your competition - You may or may not have done this already. If you haven’t you will be probably be surprised about what you can find out about your industry. By researching your competition, you can find out about what products and services others in your field offer. Maybe you can figure out something to offer that they don’t or add into your menu of services something that they offer. Also, this is a good place to check out what others are charging to see if you are within the range of what is being presented to clients.
Co-opeition - The definition of co-opeititon is providing needed but different services for customes in the area. You have seen this done for about 10 years now. Co-opitetion exists with Home Depot and McDonalds or Hess and Blimbie’s. And not too long ago the fast food chains started teaming up together Pizza Hut and Taco Bell - did you ever thing you would see two fast food chains in the SAME building? But they realized that by being together and offering more of a variety to the customer…they would BOTH benefit because they customer wouldn’t have to choose one OVER the other but possible get a bit from each.
Run a event together and you both win!
First of all, could you actually efficiently take care of ALL the possible clients? No, you couldn’t. So, why not allow the competition to help on those things that you may not have the time or resources to take care of and vice versa.
This is also another way to receive good referrals…I know, you probably think I have really lost it huh? But this is really true. For example…even for me, as a virtual assistant there are things that I don’t have a passion or desire to do. I can do them…however, I prefer not to do them. So, I would look to another virtual assistant whom is good at a particular type of task (like accounting) and let a potential client to go to this virtual assistant for that need. The client will be happy for the connection because they get their need met and of course the other VA will be happy for the referral.
Also, by becoming friends with your competition…it is a quality way to receive references. Clients really like it when you have great references from other people in your industry.
And don’t be worried about losing customers to your potential clients. There is so much work out there for everyone…you just do what you need to do and allow others to do the same. Now, you may meet a few unscrupulous people however, they will receive what they deserve so don’t worry about them either.
Enjoy and be friends with your competition…you never know…you just may learn something. Or teach something.
