Readers Talk - More Business Lessons From The Olympics - Working With Competitors
My post Business Lessons From The Olympics - Work With The Competition sparked some interesting insights and tips from readers. We always love reader comments and all our readers, so it’s great to be able to share these valuable ideas and perspectives.
Lindsay of Writing For Your Wealth said
Yeah, it amazing how little “good sportsmanship” you see in the business world.
But generosity and collaboration can certainly be beneficial to two competing businesses.
Develop a good relationship with your competitor, and you might be able to talk him into promoting your product on his list (for a cut, of course). Just because you’re targeting the same audience, doesn’t mean there isn’t room for both of you to make sales.
My co-blogger at Home Biz Notes, Mary Emma Allen added
There may be times when your competitor and you can do some collaborative promotion and advertising. You probably have slightly different products. Perhaps you can do giveaways that include both products. Have a punch card. When someone has shopped at at both places for specific dollar amounts, they get their choice of prizes put up by both businesses.
Elizabeth Gordon of Chic Entrepreneur said
The Olympics is also a great forum to observe the balance between teamwork and competition which I find especially relevant during this current business crisis Sometimes in times of crisis people come together. When people are freezing to death, they huddle together to share their warmth. When one person experiences a personal tragedy, the community comes together to give them support.
However, times of crisis also can pit people against one another. Think of the looting that happens in riots and the every man for himself mentality that strikes when resources are perceived to be limited or there is a widespread danger or attack.
So do you embrace your fellow business owner and huddle together or do you fight them to the death? During this current economic downturn, a little bit of both will likely serve you well.
Have the Olympics sparked any business insights for you and your approach to business?
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