I don’t have competitors, I only have colleagues

Are you competitive? I can be when I’m playing Yahtzee or Monopoly, but when it comes to business, I’m not. I live in a metropolitan area with lots of competition in my field: web designers, developers, and marketing agencies. I meet many people I’m most likely competing with for clients at networking events, and each time, I see that as an opportunity to make friends. If you aren’t connecting with your fellow designers, you are losing a chance to gain a colleague and give and get referrals.

Knowing your direct competition and knowing them well is a great way to grow as a business owner. Ask yourself:

• What can you learn from them?
• What can you teach them?
• Can you give each other overflow when you have it?
• What makes you different?
• Do they take clients that you routinely pass on?

I admire my direct competitors and feel great when I can send a lead their way. If they love e-commerce, they are at the top of my list when I get a lead for complex e-commerce. If they have a speaking event, I attend to give them morale support (and to learn from them, too). If I did a training I think they’d enjoy, I share it with them.

There is always enough business to go around. If you have that mentality, your best bet is to befriend those in your circle. They can become a trusted sources of referrals.

RESOURCES: Entrepreneur – Why (and How) You Should Befriend Your Competitors