Fast Company

Collaborate, Compete, Cooperate

Leaders such as Yahoo!'s Tim Sanders and smartRay's Troy Tyler extoll the strategic value of "co-opetition," or working with your competitors -- not against them.

In a recent newsletter, MarketIdeaShop's Lois Carter Fay describes the reasons why she often cites, compliments, and recommends people -- and companies -- who are ostensibly her rivals:

  • It gives me more products to sell.
  • I have a larger sales force than I would have without affiliates.
  • My credibility is enhanced by being associated with stellar competitors.
  • My competitors can provide excellent content for my electronic magazine, which makes my job easier and my ezine more interesting to my readers.
  • I can provide articles to my competitors to use in their ezines, expanding my reach to their subscriber base.
  • My sales increase and my profitability rises.
  • I can learn from my competitors (and they from me) because they have different skill sets and experiences than I do. In other words, we can mentor each other.
  • If I am swamped or need help, I can call on my competitors to help me serve my clients.
  • If my competitors are swamped or need help, I can sell my services to them or their clients.

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1 Comments

  • Clynton Taylor

    Everyone needs a few good competitors. It ensures quality is kept high and people on their toes (please note this model does work outside of the ballet industry). And, it just makes things more interesting!