It Pays to Cooperate with Your Competitors
By Bigg Success Staff
Bigg Success in Business
Business owners are often a very competitive group. They want to stamp out their competition so they can gain market share. They’re always looking for a competitive advantage.
But sometimes you can make more money by working together.
Here’s an example
There are two established car dealers in a small community about thirty minutes away from a large city. Obviously they compete for the business of the people in their immediate community.
But at some point, they both approach the maximum amount of business that they can get from these people. Can they continue to grow?
What if they promoted both of their dealerships together to people in the city? Talk about how they’re committed to saving people money to make it worth the drive.
It’s likely that neither one could afford to advertise in the larger market by themselves. But by working together, they can bring a whole new market into their stores.
It seems that you hear about “coopetition” with internet competitors. But it works offline as well.
Has it worked for you?
Hear today's lesson and laugh on The Bigg Success Show.
(Image by FOTOCROMO)