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Helping the Competition?
As a rule of thumb should one help , ignore or destroy the competition? I know human nature would say to destroy but I think one stands more to gain by helping? You can share experiences and tips while building allies at the same time. I have read many business book, but none discuss how to treat the competition?
Maybe the answer depends on the business you are in? Or maybe it depends on how far into the future you can see?
None of the above. :-)
At least none of the above have as high a priority as knowing and understanding one's competition.
But a higher priority than even that is knowing and understanding one's customers and prospects.
This makes sense, however, how can one understand one's competition without developing a relationship with them? By helping them, they can reciprocate by telling you the ins and outs of their business. Of course if they dont reciprocate, then write them off.
Some industries and locations are amenable to such a course of action. In fact I know many business organization where the members all come from the same industry. But they are normally joined so as to influence public policy (i.e. employing lobbyists to try and shape government laws and regulations affecting their industries).
I guess I am unique in that my customers come from all over the world ( but mostly USA , Canada and UK ). So in that respect I I hardly doubt my competition will take much business away since the playing field is so large.
I think it is human nature to inflate one's self-importance and assume your trade secrets are the silver bullet to scoring big. The reality is businesses are built on many small things plus lots of hard work. . I dont see how sharing these small tidbits of knowlege will do much harm . The benefits of understanding the competition through helping them may quite easily outweight the risks?
Becoming a member of a local chamber of commerce can also result in competitors meeting and forming relationships. So I would say that there probably are opportunities where you can help the competition such that both of you benefit.