An Alternative Approach To Competition

An Alternative Approach To Competition

Sige Weisman, one of my favorite clients, came to see me last month with a new business plan. She wants to provide business consulting for people in her field, she’s a licensed therapist. She sees the need, she’s done well marketing her own business, and she’ll be a great business coach... but that would put her into competition with 2hats Consulting. I want Sige to succeed, but is she threatening my own business?

My answer is that inviting competition is the best thing I can do for my business. And being an ally to your competition is great for your small business too. Remember: a professional service provider probably serves, at most, 100 unique clients in a year, and there’s over 5,000 licensed MFT’s in the Greater Bay Area —this just isn’t an environment where businesses are hotly competing over a small potential audience. Instead, the greatest challenge for small service providers is usually getting potential clients to become aware of them at all.

And by supporting my competition I become a member of a supportive business community, rather than a defensive isolationist. Just last week I needed a replacement for my monthly SBA marketing presentation, and called on another business coach (and my client) Jessica Hadari, to cover for me - she rocked it.

Does having competition push me? Yep. Knowing there’s solid people, who I respect, serving the same people I do insures I develop new tools, I make sure I reach out to more people, and I strengthen my existing relationships. It’s good for me and it’s good my clients.

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