Is There Collaboration Between You and Your Competitors and
How Can It Affect Your Business?

 Is There Collaboration Between You and Your Competitors andHow Can It Affect Your Business?

Have you ever heard of the term “competitive collaboration”? Sounds impossible? Actually no, it is a viable alternative to endless competition and the negative impact associated with it (stress, resentment, and burnout among others). It is an efficient alternative to trying to outperform your competitors at every turn and you can actually end up with more substantial benefits if you play your cards right.
So, how do you organize collaboration in the best way that benefits your business? Let’s take a look:
If you are having a hard time getting ahead in the market, establishing cooperation can improve your revenues, improve audience outreach, and boost your brand awareness. You should not pick fights you cannot afford to win and making friends out of your opponents can be better than defeating them.
Collaboration can take many forms – outsourcing arrangements, licensing deals and cooperative research projects are attractive options that can have a long-term impact on your business.
By enforcing collaboration, you reduce the chance of suffering damage caused by the malicious activities of your opponents and the bad blood existing between you. Having common business goals also means you have each other’s backs in tough times.
By collaborating instead of competing, you have access to a larger creativity pool compared to what you would have by trying to outcompete everyone in the market. The energy spent on the stress of having to deal with competition is easily transformed into a creative spark.
Finally, collaborating means sharing the burden of the cost of business endeavors and having them end with a more favorable outcome.
This is great, you may say, but where do I find like-minded partners for collaboration?
The answer is simple: there are virtual platforms dedicated to linking businesses and they will do your job for you. Security Summit 2020 has been doing this successfully for several years now and you are invited to register today and start collaborating with the business partners such as Dahua, Hikvision, Bosch, Salto, Avigilon, ISEO, March Networks, Milestone, and regional companies that share your vision and business goals!

Leave a Reply

Your email address will not be published. Required fields are marked *