Coopetition isn’t a typo but it is a new way of doing business that centres around collaborative competition.
Flying solo can get a little lonely sometimes. Looking to collaborate by working with other like-minded businesses can help keep you focused and motivated, learning new things as you go and holding you to account.
Your organisation is already good at what you do, with a good fit between your products and your customers. You don’t want to bet your house just yet on expanding into new markets or hiring more staff. By looking to collaborate with others, you can provide complementary products/services without extra fixed costs, reducing risk and saving time.
Trying to foster an ‘entrepreneurial mindset’ in your organisation? There’s nothing like partnering with a start-up to help your team understand what f***king up looks and feels like. Like storytelling, about living on boxed wine (goon) and two-minute noodles and not sure where your next mortgage payment will come from might just be more powerful than an academic assessment of your team’s mindset.
Every organisation has their ‘favourite’ customers – the ones that are a perfect match with your values. At Ignitzee, we love working with organisations that are:
A special shout out to Phill @ Gizmobusters. Phill has a great set of mounting gizmos that solve a huge range of everyday challenges. His gizmos are perfect for fleet vehicles, professional drivers and tradies. We can’t wait to see how he grows his online gizmo business making the most of his amazing photography skills and humour.
The Ignitzee team know that ‘every man and his dog’ does some form of business coaching. We know that our style, approach and history isn’t the right fit for everyone. We are more chihuahua and less pitbull in how we roll.
Knowing what your competitors are really good at (and enjoy doing) can help you focus more on your best customers, creating raving fans. We’ll happily shout from the rooftops that Team Buffalo are a great fit for organisations seeking ‘people-centric’ growth, particularly if there’s team behavioural challenges involved. This is an example of coopetition.
Disruption means that competition doesn’t just come from traditional players, but also those outside of our industry. Taxi, anyone?!?
We’ve recently looked to collaborate and launched The Exchange Collective in partnership with fellow boss-lady Caitronia Brain. Diversity is paramount to solving today’s and tomorrow’s challenges. I commonly see projects that bring together skills like mechatronics, network engineering, marketing, waste management, technology architecture, accounting and town planning in the same room.
Seeking new safety standards or new technical standards? Want to educate customers or influence government regulation? Collaborate – this is best done in partnership with your competitors. It has much more power when you stand together.
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