If you follow NASCAR (the National Association of Stock Car Automobile Racing), you may have heard the term "co-op-petition" in recent weeks. "Co-op-petition" is a word coined by Darrell Waltrip (the "Yogi Berra" of the racing world). It means "competitors who co-operate for mutual benefit." That was an interesting thought, but it was made even more interesting when, within a day, I read about the same concept in INC magazine (March 2005) in an article titled, "Let's Be Friends." It states that "new research says that CEOs who become pals with their rivals do better than those who don't." It tells the story of a woman who opened a quilting store in North Haven, Conn., and was called by the owner of another quilting store, no doubt a competitor, asking if she could come by to meet her and "welcome her to the quilting community." Naturally, the new store owner was perplexed. What did she really want? As it turned out, they became great friends -- often referring customers to one another for items they didn't have in stock. The article goes on to say that when CEOs become friends, they talk shop. They compare notes, share information and swap impressions about business conditions. (Sounds much like a local PPFA Chapter meeting, doesn't it?). Kaihan Krippendorff, a professor of entrepreneurship at Florida International University, has written a book titled "The Art of the Advantage." His key finding is that entrepreneurs who believe they're in business to vanquish the competition are less successful. However, not everyone agrees with this premise. I posted this concept in an online forum, thinking specifically of two men who own frame shops in the same town and yet are close friends. A couple of folks agreed with the idea, but then I was "blasted" by someone who, it appears, was "ambushed" by every competitor in town - and then some! It seems we have no problem being friendly with other framers and sharing all kinds of advice, information and marketing strategies, as long as we can do it from the safe distance of another state, or within the anonymity of a "screen name" in an online forum. But to look someone in the eye and share that same type of information is unheard of! As a board member of the KY/TN Chapter of the PPFA, I often find the most common excuse for not joining (aside from the tired old cliche of "what's in it for me?") is that of "are you kidding? I'm not going to get together with my competitors!" To which I reply, "That's OK - be an ostrich." Because our chapter is so spread out over two states, we have discussed having "coffees" with local framers, getting together monthly or so to "meet and greet" each other. But so far, many framers are still skeptical about the idea. No one ever said you must share everything about your business. Obviously, there are some things you want to keep private. And it's important to remember where friendship ends and business begins, but when studies show that 85% of the buying public has never been in a custom frame shop, we have bigger problems than being friendly with our competitors. Norm Brodsky, who writes a column for INC magazine titled "Street Smart," often talks of being friends with his competitors. The first time I read that, it surprised me. I understand my being friends with other framers, but this is a "big shot" business, in a "big shot" town, with a "big shot" product. And he's friends with his competitors? Wow! But, over the years of reading his articles, I've found that even though they are competitors, and offer "virtually" the same product/service, there are still areas in which they alone excel. In other words, their "niche" is different. Either it's a different clientele, or a different atmosphere, or even a different price point. And that's where we, as framers, are different as well. I talked with a framer recently who was one of three frame shops within the same shopping center. That's right, the same shopping center! And they were all friends! One was the "dreaded" big box. One was a "generic" framer, and this man specialized in Civil War prints and memorabilia. They all referred different customers with different needs to each other. Plus, they had the advantage of loaning/borrowing supplies and expertise in a pinch, but had they never "darkened the door" of the other shops, they would have never known what was available or been able to meet their customers' needs adequately. We all have our own niche, our own way of doing things that sets us apart from other frame shops and galleries, even if it's nothing more than the owner's personality! Not every business is going to be a good "fit" for every customer, even if they offer the same exact product or service. As the INC article stated, "Assuming your psyche is in order and your business boundaries are firmly in place, there's no reason not to pick up the phone, dial the competition, and see if you can't make yourself a new friend!" Betty Newman is the owner of Newman Valley
Studio in Kodak, Tenn. Betty may be reached by phone at |
