How to make friends with your competitors?

The best way is through industry trade associations. The unfortunate truth in hi-tech is that most companies are very young and individualistic and appreciate a go-it-yourself approach.

There are many areas where companies can work together to grow the size of the pie or business ecosystem for the benefit of all, but most companies miss these opportunities for fear that their competitors will benefit.

If you want to make a difference, you should work to create an association for your slice of the market and then use the association as a platform or neutral ground where you and your competitors can meet and discuss non-competitive matters that will benefit your industry. as a whole.

Reach out to your competitors and tell them you think your industry could do better with XYZ and by focusing on a few core issues.

Measure how they react.

If they sound warm, ask if they think an association would help to solve these problems?

If they say yes, first pick three problems to work on. Then move on to other problems, etc.

You don’t need many companies to begin with; only three at the beginning is enough to make a difference.