collaboration vs competition

You already know that there are other businesses that do what you do. If you have already figured out what makes your business special and who your ideal client is then this one simple strategy will help you get more business from your ’competition’

Stop Competing.
Start Collaborating.

In some cases offering multiple services can work out really well but in others, it results in burn out, frustration, and a lack of clarity in your marketing and brand strategy.

I’m sure you heard the saying, jack of all trades master of none. Well, that saying is one that gets ignored in business every day by so many that are trying to keep their business afloat. They fear if they offer less services or products they will get less customers. With that fear, they add more services or market to an even wider audience. That is a mistake. How many times have you heard someone say that they specialize in… and then follow that by listing off a bunch of items. That’s not specializing! Can you imagine if you were searching for a neurosurgeon and they said “I specialize in neurosurgery dermatology and pediatrics? You would know right away that person is not a specialist.

In a previous post I spoke about why you need to specialize and how it can help your business. But did you know that working in cooperation with a business normally considered your competition can actually benefit your business in many ways including bringing you more business as well? It’s true! Let me explain with a story. (Come on. You knew that was coming. )

Storytime

There were two awesome personal trainers. Jason and Sydney.

Jason specializes in personal fitness for athletes looking to optimize their sports performance.

Sydney specializes in personal training for prenatal and post-partum mothers.

Both are great at what they do and get lots of referrals. Now that they have a cooperation/referral partner relationship they can send each other business that doesn’t really suit or interest them instead of turning away clients or trying to figure them out. Instead, they are both now receiving more clients that fit their ideal client profile ensuring a more efficient process, and happier clients. Jason and Sydney’s business lived successfully every after.

 

Collaboration vs. Competition

Next Steps

While the strategy is simple, like anything where you want great results, it takes work. Here is where you need to start

  • Decide what aspect of your business you are OK with giving up to a referral partner.
  • Make a list of businesses whose values or ideals closely align with yours and start a discussion on referral partnership. Schedule meetings to discuss and find the best fit.
  • Discuss what aspect of their business they are OK with giving up to you as a referral partner.

Once you find the right referral partner you both will receive more business that you enjoy doing or clients you enjoy working with. If you want to take it even further you can share processes and strategies to help improve each other’s business.

If you are in need of help to update your branding materials to this new direction or partnership for your business we are here to help. Feel free to contact us about your project.

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Edmonton Graphic Design and Branding Agency

Hotspot Creative Solutions is a boutique Edmonton graphic design agency. We specialize in identity work, branding packages, graphic and print design, web development and marketing solutions. We deliver the experience and expertise of a larger design agency with the ability to provide personal attention, flexibility and quality creative work to help Express Your Brand.