Is it worthwhile getting in touch with a competitor?

Discussion in 'Growing and Managing a Business' started by draz, Feb 11, 2010.

  1. draz

    draz
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    Hi there,

    I have been contemplating as to whether or not it is worthwhile approaching a competitor as an offer came up to have a chat with an existing competitor in my industry. I am still in start up mode, so am thinking making it aware that a new competitor is out there probably won't do too much good.

    Does anyone have any views on this and what could possibly be gained from engaging with a competitor?

    Thanks,

    Draz
     
  2. JKP

    JKP
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    Hi, I think you should have a chat with this person yes. As a start up business it is very useful to talk to people who have been there and done that! We started a year ago now and have continually talked to people in the same line of business as us; its gives you ideas, confidence that you are taking things in the right direction and also maybe possibilities of working together in the future? For example we met and chatted to a contact who covers the south of England, we mainly cover the Midlands and North; when he got a phone call asking for his services in the north he passed the new business our way, we'd only met for a quick coffee whilst visiting family in the South.

    A valuable part of Business is networking and sometimes the things you think will not be of use turn out to be invaluable......thats my thoughts anyway, hope its helps.
     
  3. seanstevens

    seanstevens
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    Always meet and don't think of them as competition, think of them as a potential source of information and new customers.

    When it comes to small business you buy and sell to people not businesses, so you need to network, get your face and name out there. There is nothing wrong in being the little guy when it comes to business, but don't be put off by the big guy, have confidence to talk on level terms. Obviously don't directly discuss any ideas you are working on that are not already on offer but discuss business in general, trading conditions etc.
     
  4. Business Forms

    Business Forms
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    long time ago there are also on your stage...they are also new in industry at a time... never think they are BIG and you are SMALL ... you can talk with them as a friend or fan... try to be touch them with internet like email or IM ... sharing your problem or option for your thoughts... discuss business in general ...ok?? good luck...:)
     
  5. TiaWood

    TiaWood
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    Think about it: how do you eliminate a competitor: you make them a partner (or customer). :)
     
  6. HJ-Andrew

    HJ-Andrew
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    :D Well aren't you just a regular Rockefeller.

    You're right, though. Lots of companies get gobbled up every day. The big sharks in the tank love to feed on the guppies.
     
  7. Fergal

    Fergal
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    You got great advice there draz. One thing to remember when you do talk to a competitor, is that some business people will say that business is more difficult than it is, to discourage new entrants from entering their market.
     
  8. DEADMAN

    DEADMAN
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    Be confident and approaching with them is not a big deal.

    You need to actually work to find out how the competitors are working to sell their products or run their business effectively. You need to grab the chance to know their marketing strategy and report their product sales. Be bold and take every chance to know them better and learn to run your business effectively.
     
  9. mggc

    mggc
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    Hello,

    In my opinion, I think that it is good that you speak with your said competitor. I think that this will help you know things that makes his/her business a success or maybe not. Don't really consider them a competitor, instead make this a good source of information of how they strategies for you to be able to think of your own different and unique strategies that can make your business a success. :)

    Good luck with your business!
     

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