Competitive Collaboration helps a Business to Grow!
“Do I not destroy my enemies when I make them my friends?” ― Abraham Lincoln
Kiss and make up with an enemy? Sound gross? Well, in life and business, we’d all be wise to heed Honest Abe’s advice.
In business, we call this concept a competitive collaboration. It may sound a little strange or maybe even impossible, but it works. And it doesn’t destroy anyone.
Building relationships with competitors is more than trying to avoid an all-out war. It’s learning how to turn a potential threat to your business into a tremendous benefit.
So whether you are just starting a business or feeling as if your momentum is stalling, I strongly recommend considering this strategy. Competitive collaboration can help you boost profits, improve brand awareness, attract your target audience, and much more.
When you compete, you aim to achieve results, but this comes with fear, stress and resentment. You are worried about performing beyond your abilities in order not to lose what is already completed.
However, it can still drive you to achieve results when you are collaborating, but with less fear or worry. You desire to achieve joint goals.
When people are working in a competitive environment, they are under continuous stress. The energy they could have used for achieving their goals is wasted on trying to find ways to outrun the competition.
They feel an urgency to complete every project before the competition does it faster and better. While this can help maintain tight deadlines, such an approach can negatively impact the quality of work.
When stressed and pushed to beat competitors, people make mistakes, overlook important matters, compromise their ethics, and eventually burn out. Even if they achieve specific goals in the process, they may not be ready to perform to their full potential moving forward.