From the ETR Archives: How Cooperating With Competitors Can Help You Succeed
March 12, 2007

[This is the first in a series of excerpts from the Early to Rise Archives that we're going to be running in the newsletter for the next two weeks to honor our upcoming Issue #2000 - a milestone I'm personally very proud of. If you're not yet a subscriber to ETR, this will give you a good idea of the key ideas and themes that I come back to again and again.

To read each full article, click the link embedded in the text.]




"I hear plenty of talk about how cutthroat business is, but most of what I see is softer. I do know businessmen who are rude and crude. I know some who lie and cheat. But most of the worst ones don't do very well. They score a couple of scams, but then word gets out. Before long, they can't find anybody but new, dumb meat to do business with.

"Put differently, most of the business successes I've known or have seen firsthand were achieved by some form of cooperative behavior."



"Bad behavior limits your potential. Good behavior enhances it. Furthermore, competitive business practices are generally self-destructive. Cooperation is the true key to long-term success.

"I can tell you from personal experience that in the jewelry business, the art business, the contest and sweepstakes business, the astrology business, the academic-book-publishing business, and many others - sharing ideas with your competitors works much better than trying to take advantage of them to further your own ends."



"You can - if you like the martial metaphor - run your business as if you are fighting a war. You can see your market as a battleground. You can hate your competitor. You can try to beat him out of market share and rejoice if he goes out of business.

"But if he does, what have you won? A position in a market that has lost one of the agents that was making it grow."



"I'm not advocating that you divulge all your secrets to all your competitors, but I'm strongly in favoring of giving first - and with all the best intentions - with the expectation that in the long run you'll get back as much or more than you have given.

"It's a universal principle that applies to all aspects of life. Many of the most successful people I know are 'give-first' people. Such people understand that the best way to establish trust and good will is to give first and without requisite compensation.

"Once trust and good will are established, business and communication flow smoothly, deals are easily cut, agreements are quickly made, and success is much more abundant."

posted by M. Masterson @ 1:40 PM,

1 Comments:

At 1:58 PM, Blogger Sandra Alvarado said...

Hey Michael,
I've heard so much about u... I want to be like u :) I want to make a lot of money. I have the vision, "burning desire", smarts and biz.
I'd love to attend your 5 day retreat as I know it'll be phenomenal. Unfortunately, I'm no where near financially able to afford it. It's too bad you're not offering scholarships for such a great opportunity to learn from u. Take care,
Sandra

 

Post a Comment

<< Home