Episode 1: Let Your Competitors Help You (Pt. 1)

November 28, 2021

In this episode, we talk about letting your competitors help you make your business better and more profitable–as strange as that might sound.

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Table of Contents

Show Notes

Believe it or not, many of your competitors would be more than happy to help you in all sorts of ways, whether you’re just starting out or you’re already in business and struggling.

We use two examples from Terry’s experience as a life-long entrepreneur and  Small Business Advisor to explore the kinds of information, support, tips & tricks, as well as industry secrets that your competitors can share with you…if only you muster the courage to reach out to them.

Music by Lesfm from Pixabay

Tips for Contacting Competitors

Competitors can give you insights into the industry that you will be working in that you will not find anywhere else.

They can be goldmines of very important “trade secrets” that can help you to understand more than just the rules of the game—they can share with you how the game is actually played to win.​

Almost always, there’s “the story” of how things are, which you can read about in industry reports and on competitor websites.

And then there’s “the rest of the story,” that people who are actually working in the marketplace can tell you about.

Do Some Basic Prep

Before picking up the phone or sending out an email or direct message, first do some quick research to learn as much as you can about your competitor’s business, and if possible, about the person who you will be talking with. Usually you can find what you need on their website, LinkedIn, or other social media.

If it’s a relatively small business, you might be able to talk directly with the owner or manager.

For medium or larger sized businesses, you might find a department manager to speak with: technical, production, sales, marketing, distribution, acquisition, and so on.

Just about anyone in a management position will know enough about the overall operations of the company to be able to help you.

Keep It Conversational


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This Post Has 2 Comments

  1. Ruxandra

    Valuable content, thank you for sharing this here!

    I am so glad to find this coaching/consulting program! When you want to start something it is really helpful to have on your side someone like you, Terry Cornelison, with lots of experience in business, in life, in dealing with people…
    Someone to be there for you to direct your first steps.
    Someone with whom to consult in any problem that can rise.
    Someone to show you the “shortcuts”, tips & tricks.
    If I may, I can say you are a “time saver” for me and not only!

    P.S. It was a very nice surprise to find the transcript for the podcast, too! Real appreciated!

    1. TC

      👋 Thank you so much Ruxandra! We’re getting our podcast “off the ground” and still have a lot of refining to do. Please let us know if there are any questions or topics that you would like us to talk about in a future episode.

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Then, we’ll wrap up Phase 2 by completing the remaining sections of your business plan and bringing them all together into one unified document. 

As you will see, most of the content for these remaining sections has already been created in weeks 1-3, so you will mainly be reviewing the material that you already have, and then adding anything that you may have overlooked or that you feel might need more attention.

And then you will bring all of this together in your Business Plan in the following format:

  • Executive Summary
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