Part of being able to stay in business is figuring out a way to outsmart your competitors. Even though this is true, companies may get more value out of befriending competitors.
Why is this?
Building relationships allows you to work together to determine the best way to satisfy your customers. Here are a few tips on how to approach competitors in a way that will be mutually beneficial:
- Make the first move
- Be prepared to say no
- Continue the relationship
After initial contact, continue building the relationship (as desired). After all, doesn’t healthy competition force you to work harder?