Networking With Your Competition (Revisited)

I was recently asked how a group like C.H.I.P.s works - the question was how do people who could be competitors network together? With an event coming up November 18th, I thought I'd re-post an article I posted earlier in the year:

Most business owners I know have learned the value of networking, especially if they've been in business for a while. Some have a "power team" of referral sources; Realtors and mortgage lenders are great referral sources for each other, as are chiropractors and massage therapists and so on.

I take my networking a step on the crazy side: I love to meet and network with other woodworkers. I've been asked a few times if I would mind meeting others who wold technically be considered competition. The answer is always an enthusiastic "yes". See, some woodworkers may have an area they specialize in where I could use some help. For example : my shop doesn't do any wood turning, but I'm not about to let that cause us to lose the opportunity to quote on a job. I'm also not going to say yes to a job we can't do. I'd rather get another woodworker involved so we can both benefit. We've also been called upon several times by other woodworkers we've built relationships with over the years to build a piece that they don't feel comfortable doing.

Another benefit to networking with your competition is the ability to learn new and more efficient ways of doing things, like dovetail joints for example. On the restoration side, I've helped others with cane seat-weaving and matching stains. You can also learn effective ways of marketing for your specific audience, or about vendors you haven't heard of that may offer better products or materials.

Your competition can not hurt you, they can only help you. Realize that when you have competition, it only brings the awareness of your product or services to a higher level and you just need to make sure you are always putting out a positive message about yourself and your company. If you build a relationship with your competition, they may even recommend you sometimes to clients they can not accommodate, and you should do the same. And it always fun to have a friend to share your successes and disappointments with that can relate to what you are talking about. So bring on the competition!