Why You Need to Befriend Your Competition :: When they say that you need to ‘keep your friends close and enemies closer’, they meant it! It’s the key to scaling your business to new depths. In this article we will discuss why it’s so important and why you need to befriend your competition.
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Befriending Your Competition
The reason why you need to befriend your competition is because doing so will help scale your business. The ways your competition can help you grow is endless!
Remember these two things:
- Everyone knows everyone (6 Degrees Theory)
- There is plenty of business out there for all
You need to remember these two things because they are not only true, but will get your far with your business.
Everyone knows everyone, meaning that your competition may know someone that would love to use your services. It may also mean that your competition may know a potential client that they are unable to service or provide their product to at the moment, so they are referring you as an alternative.
There is plenty of business out there for all, meaning exactly what it says. For example, dog walking. There are plenty of dogs out there, and it’s impossible for only one dog walker to handle. Therefore, the one dog walker would have to refer another dog walking company to step in and help.
The importance of befriending your competition is to help your business grow. Instead of going through the trenches alone, befriend your competition to help you get past the finish line faster. By befriending your competition, they can refer clients/customers to you!
Now please read that last sentence again.
By doing some simple networking and maintaining professional relationships, it can help your business grow for free! For example with my pet sitting company, say we are booked for a weekend that my client is requesting services for. Since I am unavailable, yet I want to make sure their pets are cared for, I will refer them to one of my competitors that I trust as an alternative sitter for when we are unavailable/booked. Since we have been able to have a professional and respectable relationship, we have an understanding to where we don’t steal each others clients.
This last year( even with COVID-19) my business has been able to grow more than I could have expected it to. And it was all thanks to my allies in this industry and my competitors for referring clients to me if they were unable to service them, or their services didn’t match the need of the client. Again, there is enough business out there for everyone and we all conduct our businesses in our own way. One client may like what I do best, but another client may like what my competitor does best. And that’s okay, because there are plenty of fish in the sea!
We are all in this together and we are all doing the best we can, and we do that by supporting one another.
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