Can competitors help each other in business?
First of all, let's define a competitor.
And to do that, we need to first define a competitor's very close cousin... a Strategic Relationship.
What? Crazy I know.
Strategic relationships is how I've built my entire business.
It's how I help my clients to be able to create really strong businesses without having to do advertising or have huge mailing lists or even websites.
So understanding a strategic relationship and not confusing it with a competitor is step number 1.
BOTH have got your ideal client in their audience. Either their mailing lists, their customers, or their followings.
But a competitor solves pretty much the same problem you do.
Whereas a strategic relationship or strategic partner does not solve the same problem or they may solve things at a different stage on the journey.
You're not competing with each other in promising the same outcomes.
That's really important to know because it is not unusual to find somebody, where you go "I absolutely love what you do. Let's find a way that we can work together!"
I've had this conversation numerous times and it sounds crazy, but it's very true.
We would spend our time working things out.
What do we do?
How do we get results?
A Competitor (but still friends)
Sometimes you come to realize and have to go "You know what? I think we're really more of competitors than being able to promote each other."
If that's the case, you're just going to confuse your clients if you start sending people and promoting them to each other.
As much as you love what they do, you just have to accept that you're friends.
You can still support them by cheering them on or support them emotionally and just catch up every now and then.
But you can't really promote each other.
Probably the reason why you were drawn to each other is you're passion for helping the same people.
How could you not love somebody like that?
So you can still support each other in business, but be very, very clear where the boundary lines are.
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Go get 'em folks!