In business competition is what keeps us on our toes, keeps us current and keeps us fighting to maintain that edge, unique selling point or maybe its the flip where it keeps us struggling to get the edge and catch up, discover our unique selling point and it can be one of the most stressful, thrilling and exciting things that keep a business going.
Now I had a chat just the other day with one of my competitors and it wasn’t hands round their throat, instead it was a civilized drink and chat to discuss not in too much depth each others businesses and where we are heading. Who says you have to be ruthless with the competition and can’t be civilized.
I saw recently an advert from said competitor that got my uneasy about some of the direction and current position both my business holds and theirs also so with just a phone call a meeting was setup and we discussed things. Now don’t get me wrong when it comes to business and anything really I am extremely competitive. Just for the case that you got your new laptop a day before mine arrived will agitate me slightly – but back on business having the competitive edge is really important but you do not need to low ball your competitors to out perform, out sell or plain out beat them.
Our hour long discussion ranged from what we were planning “more or less” to do in the second half of the year and what demographic for certain items we were focusing on and this led to a very interesting discussion as it would seem that someone who in 2009 was a direct competitor in 2010 we are taking separate paths and not only that but over the course of the next 6 – 12 months could see a collaboration between the two businesses that will complement each other and be highly beneficial.
Moral of the story is just because you competite doesn’t mean you should ignore. Get to know your competition and not just from a market perspective, you never know you could end up being regular golf buddies, drinking friends, go out for meals and so much more and if business comes into play then it can lead to very interesting conversations.
Always keep in mind how much you talk to your competitor about your business, you wouldn’t want to be giving TOO much away.
What is your view on competition, would love to hear it!
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