If you’ve been working hard on growing your traffic, creating products, building your mailing list, participating in social media and doing all those things you know should do to grow your business…you’ll know one thing for certain. It IS hard work.
But there’s one thing that multiplies all these efforts faster and more cost-effectively than anything else.
And that is embracing the idea that the people we typically think of as competition can actually be our very best allies in business. As online business owners, we’re not competing with other business owners in a specific part of town or going head-to-head with the shop across the street. We’re on big wide Internet, where there is plenty of business to be had for all. Add to that, when we work together to bring one another customers, we ALL make more money through commissions, joint venture products and more.
Let me elaborate a little…
Here’s what you can expect when you embrace your competition as friends instead:
1. Broader Reach: As I mentioned, the Internet offers a vast opportunity to reach consumers all around the world…more people than we could possibly reach ourselves, even if we used all the advertising and marketing methods available to us. Plus, when a friend recommends us, it’s much powerful than any advertising we could pay for.
2. More Profit: With broader reach, comes more profit. The most obvious is way is if someone promotes you to their audience, they bring you more business. But the even greater part is, if you promote your friends, you earn even more through commissions. You can also work on products together and come up with new income streams you wouldn’t have on your own.
And remember, we alone cannot possibly offer EVERYTHING that our audience needs. It’s foolish to think we’re a one-stop shop or to even strive to be one. Our customers will always need more than we can provide, so why not earn some money by recommending those things?
3. Shorter Learning Curves and Big Opportunities: When you’ve got friends, you can tap into knowledge, get advice and support. Whether it’s through a structured mastermind group, a forum or information communication through Skype and email…these opportunities to connect are priceless. You can share what works and what doesn’t in your own businesses. You can give each other a heads up on products you’re creating, so perhaps you can create something complementary or craft a content marketing plan that will be in line with what they’re doing, so you can earn money without creating any product of your own.
4. Reliability: True friends are reliable, even when other things in your business, and even your personal life, are beyond your control. When you have a product launch coming, it’s easy to propel to success when you have friends on your side. If you have something in your life arise when you need an influx of cash, having friends ready to send out promotions for you, it’s easier to reach your goals.
I can say, 100% without a doubt, that my business wouldn’t be where it is without friends. I’ve accumulated countless new readers and customers from people who sell very similar products to mine. And in return, I’ve done the same for my friends. It’s a win-win-win for me, for my friends and for our customers. I hope, if you can’t say the same right now, that by the end of 2014, you’ll be able to sing the praises for turning friends into competition too.
We’re going to keep this theme going and we’ll be talking about growing relationships over the next few weeks, so I think we need something to motivate and keep us going. Let’s consider this our theme song and let’s get this thing going.