LIKE the old feelgood Ben Lee song says, ‘I woke up this morning, I suddenly realised, we’re all in this together’.
Some new business owners struggle with how to treat their ‘competition’. Have you researched what they’re doing? Are you trying to beat them on price? Do you poach their customers? Do you even try to undermine their integrity?
Now more than ever we should ask ourselves a curious question, what if collaboration with the competition is a better option?
It can be difficult when you’re in start-up mode not to have a negative view of your competitors. They are already established, they already have the customers you would like to have and they may have the staff and infrastructure you can only dream of at this stage.
A much more constructive approach to the competition, however, is to see them as potential collaborators and partners.
Learning from what your competitors do well, and tapping into what and who they know, can be a real shortcut to getting your business off the ground.
Getting to know your competitors (and I don’t mean spying on them!) will be one of the best steps you can take towards having a successful business.
A friend of mine has a funny made-up word for this, ‘co-opetition’. It’s based on the idea of collaboration with the competition.
I’ve built my business on close relationships with other businesses that outsiders would see as my competition so I subscribe to this quirky idea.
Opportunities for collaboration are everywhere – if you’re open to seeing them. If you are still hesitating about picking up the phone and having that first conversation, give us a call first. We are always open to opportunities for collaboration and happy to help with tips to start you on your ‘co-opetition’ journey.
As published in Nepean News & Western News:
"The last couple of years at batyr has seen incredible growth and the Balance at Work team has supported us along the way. They have helped us improve leadership skills across the team by helping us source and manage mentors, and even engaging as mentors themselves. As a young and fresh CEO Susan has also supported me personally with genuine feedback and fearless advice to achieve great things."
Sam Refshauge - CEO, batyr
"We used the Harrison Assessment tools followed by a debrief with Susan, for career development with staff, which then allowed us to work with Susan to create a customised 360 degree review process. Susan has a wealth of knowledge and is able to offer suggestions and solutions for our company. She is always ready to get involved and takes the time to show her clients the capability of Harrison Assessments. "
Jessica Hill - Head of People and Culture, Choice
"Balance at Work are the ideal external partners for us as they completely get what we are trying achieve in the People and Culture space. Their flexibility and responsiveness to our needs has seen the entire 360 approach being a complete success. The online tool and the follow up coaching sessions have been game changers for our business. The buzz in the organisation is outstanding. Love it! Thanks again for being such a great support crew on this key project."
Chris Bulmer - National GM Learning and Development, ISS Australia
"We use Harrison Assessments with our clients to support their recruitment processes. We especially value the comprehensive customisable features that allow us to ensure the best possible fit within a company, team and position. Balance at Work is always one phone call away. We appreciate their valuable input and their coaching solutions have also given great support to our clients."
Benoit Ribe - HR Solutions Manager, Polyglot Group
"The leadership team at Insurance Advisernet engaged Susan from Balance at Work to run our leadership development survey and learning sessions. Susan was very professional in delivering the team and individual strengths and opportunities for growth. Susan's approach was very "non corporate" in style which was refreshing to see. I can't recommend Balance at Work more highly to lead employee and team development sessions."
Shaun Stanfield - Managing Director, Insurance Advisernet