Last week I hosted a 2day class for small businesses where I taught on Business Plan and how to write yours without needing professional help.
I had planned to have 30 small businesses in class but I couldn’t. I had 23members…pretty close yeah? It was an awesome class altogether. The reviews have been doing me duduke since then.?
So today, I thought to share with one of the things that happened in class. Actually, a question I answered and would like to answer in public, maybe someone else might need to hear it.
On day 2, I had taught on Competition, Competitive advantage and how you don’t neccesarily have to compete with your competitors among other things. One of my class participants asked “How do you collaborate with your competitor?”
I know many business owner have been taught to compete and that’s why many engage in never ending price wars, customer poaching and in some cases, invite village people to settle the matter.
See ehn! More businesses are winning with collaboration. Direct competitors are packaging classes together, packaging products together, guest posting on each others social media pages and blogs, cross marketing to their email subscribers but somehow you still think bloody competition is the way to go?
Rather than compete every damn day, look for top dogs in your niche, look closely to find their weaknesses that is your own strength and pitch them a collaboration.
Let me share with you an example I used in the class; Let’s assume you produce beauty product like Crownglow who asked the question and you have a direct competitor who creates beauty products as well. Looking closely, you find that people are buying her Scrubs more than any other product she create and on your end, people are buying more oils than any of your other products. Rather than compete, you can create a beauty package together that will include both highflying products. Market them together, pay for ads together, cross-share on your platforms and you’ll be amazed at the results.
The key thing you must just do is to complement each others weakness.
As you go about your business this week, look closely at that person you’ve always being in price battle with and finds ways to colloborate.
Cheers to your success.
Peace, Love and Cold Zobo.