In a recent article in a prominent industry magazine, a writer offered advice that I need to take issue with. As usual, there’s nothing to be gained by naming the magazine or the writer, not so much because it might come across as unnecessarily confrontational but also because my criticism is of what was written and published, not who wrote and published it.
The article made sense to a point in that it suggested that sharing ideas, frustrations, and problems with other business owners could be helpful and might lead to creating a supportive network. The problem is that he meant other members of the industry. On the face of it, it sounds all nice and friendly in a holding-hands-and-singing-kumbaya kind of way. I would however remind you that these people you’re being urged to share everything with are competitors.These are the same competitors who undercut your pricing to lure your customers away and would gladly hire your best staff members given half a chance.
So how much do you want to share? Do you really want to risk giving away a competitive advantage by telling all? I’ve never understood businesses that discover a process or product that gives them a competitive advantage and then go public with the details. Why would you risk a competitive advantage all for a bit of publicity?
It of course makes sense to share and consult but, for goodness sake, do it with informed, trustworthy people who have no interest in competing with you: that would almost definitely not include competitors..