#812 Help Your Competitors

Play This Episode

0 Votes

I am sure you think this headline is a mistake that I meant to say something else but I really mean this If you want to build a successful business in a vibrant marketplace you will grow faster if you help your competitors Before you decide I am completely crazy consider the following You don t know everything Hanging around with other business owners in the same industry gives you a chance to learn a few things in exchange for sharing a few tips of your own Improve the quality and perception of your industry If a customer has a bad experience with a service provider in your industry it s easy for them to assume that all companies who do what you do are the same Getting involved with trade associations which offer training professional and business development will improve the overall industry in which you are a participant Everyone is not your customer Getting to know companies who provide similar services to yours in slightly different niches gives you an chance to set up a referral relationship where each company actually gets more of the kind of customers they want to work with Customers need education This is particularly true when you are trying to build awareness and demand for a new or different product or service Customers may be unwilling to try your product or service if you are the only company talking about this approach but when multiple companies all tout the same benefits all of you have an easier time making a sale Everyone needs a little positive karma Sometimes it s just nice to pay it forward When I started Roundpeg I reached out to a few business owners who had been running marketing firms for awhile They graciously gave me time tips and tools to help me get started Today I do the same I like being able to look around the community and know that I played a role in helping other businesses get their start Click here to visit this podcast episode