Collaboration vs Competition: Why Working Together Is Better
Posted on March 26, 2020
Our current global health crisis presents a very unique opportunity for businesses to work together better than ever before. During this time, small businesses can root for each other, hold hands through this crisis and lift one another up. Recently, we have seen this admirable act of collaboration exhibited by Alexa Costa and Alexandra Rogers, owners of LexRx, an aesthetic injectables practice in Boston, MA. Together they purchased $50 gift cards to 17 local businesses and created a contest for their Instagram followers to win them in an effort to support fellow small business owners (all while embracing social distancing). See LexRx’s post on Instagram here.
We’re proud to say that our team has firmly stood on the belief that collaboration triumphs over the competition every time. In the past, we wrote an article for the Journal of Aesthetic Nursing magazine titled “Collaboration vs. Competition” which you can read here. While this a great article with many insights we know you’ll appreciate, we also want to address current events going on in the world. With respect to this, here are some tips for collaboration you can embrace now:
Work with other small businesses to cross-promote each other on your digital platforms for services that are still available for purchase. For example, you can collaborate with local businesses such as restaurants, clothing boutiques, or yoga studios and promote each other’s services that are still available. Feel free to get creative with your partnerships! You may become inspired to collaborate with small businesses you like and follow on social media.
Work with other small businesses to cross-promote each other’s specials. You can work with local business managers and let them know that you will promote their specials if they will promote yours. By doing this you can both optimize your revenue and expand your reach. You will also gain new patients that you may not have had otherwise. Finally, it goes without saying, but nothing beats a “win-win” strategy.
Look at how you can partner with influencers. Influencers are small business owners too. You can take this time to begin looking for influencers in your area you are interested in working with. You can start by checking to see if anyone you follow or follows you is an influencer so that you’re able to narrow down your search to someone who is in your market and in your geographic location (so the relationship makes sense). Then you can work with the influencer to promote your services and procedures to their audience. The treatment you offer as part of the collaboration may need to be performed in a couple of weeks, but the planning ahead will be well worth it once you’re up and running again. Read our blog post where we outline how to successfully work with influencers and launch an influencer marketing campaign here.
You can begin to think and ask yourself, “How can I dream with other businesses to do something together once we’re on the other side?” One idea is to plan a grand re-opening event with your neighbors next door to your practice. It would be quite remarkable for all your neighbors to band together and collaborate for a grand celebratory re-opening event. The event would be quite fun and because of this quarantine time we’re in now, we’re sure there will be MANY lively spirits.
Up-to-Date Resources & Next Steps Concerning COVID-19: To help ensure you have the resources, knowledge, forms, and expert assistance you need for crisis business management, we’re offering an Emergency Contingency Plan Tool Kit. Our tool kit is designed to provide what YOU need to feel confident and empowered to manage your practice and take proactive steps for success during this global health concern. Click here to get started and learn more!
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About Shorr Solutions:
Shorr Solutions is an award-winning practice management consulting company with offices in South and Central Florida. We work with aesthetic medical practices in all 50 states of the U.S. to help them strengthen the operational, financial, and administrative health of their business. With decades of industry experience, our father-daughter partners, Jay Shorr and Mara Shorr, lead our knowledgeable team of experts to assist practices in the aesthetic medical fields increase efficiency, increase revenue, and decrease their costs.
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