Time for some Plagiarism!
Coopetition occurs when companies interact with partial congruence of interests. They cooperate with each other to reach a higher value creation if compared to the value created without interaction, and struggle to achieve competitive advantage.
Source - WIKIPEDIA
OK - So, I quoted my source, so, I guess I am not going to get busted for that.
And yes, I do realize that we are mostly acting here as individuals here, and not working within corporate shells. However, what holds true in a corporate environment often is same for us at an individual level also.
This word coopetition is an combination of two words; cooperation and competition. We most likely would all benefit by contemplating a bit of it instead of competition with others that we see in our niche.
This may seem counter-intuitive, and it is; probably why the word had to be "made up" as it did not come into being through our "normal" behavior. We do have a tendency to take on an "us" and "them" attitude, born out of a fundamental misunderstanding of the way that markets have changed, and the way that consumer behavior has changed.
Face it, internet based commerce is a totally different experience than actually going into a physical store and meeting people and browsing around. It is just not the same thing. There are just different "rules" that apply.
A successful player in your niche is HELPING YOU by building awareness of the product and/or service that you also want to promote. This player is stimulating interest in the internet community; driving traffic; creating some buzz; all these things are benefits to you and other players in the same market.
Remember the size of the pie is huge and getting bigger every day. The fact that a large player is getting a big chunk does not mean that there will not be any left for you. By offering to guest blog; or perhaps offering to fill in a gap with a product or a service they don't have, you can be in coopetition with a fellow player in your niche
Now, don't expect them to be all as forward thinking as you! I'd guess many will give you a brush off. No worries. Move on. Some will want to play ball. The value that you will create together will be greater than the sum of what you would have created on your own.
Give it a shot and see what happens.
Recent Comments
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This is a good post taking things back to a team spirit. Corporations have helped to kill that!
I am using Twitter as a way of "finding" others in my niche. It is an interesting way to seek out those in your niche that are using that social media tool to get really active. You can put your toe in the water by tossing out a few tweets and see what you get back. Read what others are saying. If you agree; it does not hurt to retweet, or to tweet back and to agree. Human nature, being what it is, people do like to see that someone agreed with them, or liked their opinion. That is not a bad way to try to start to get your foot in the door.....
Ok, so I haven't thought of things in quite this way. Your posts always have a way of making my brain think harder! Great post, as always. :)
I don't mind a little honest competition. As you say, Bob, the pie is huge and getting bigger by the day! Thanks for the thought-provoking post!
Great example of thinking outside the box. Removes limited thinking of the vast marketplace the internet actually is and proves that you do not need to dominate to do well. Well written!
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Very good post!