Every so often I have coffee with some of my competitors. We also contact each other by email frequently about matters that affect us both. Yet most people in our industry avoid contact and try to keep their activities hidden. But are they missing out on something more important...
A common reason I hear for not mixing is the fear that others will steal your ideas and secrets to success. To this, I'd say two things:
1. It takes more than an idea to succeed
If your idea is well developed and builds on special skills and knowledge that you have, then those that simply try to copy it are unlikely to understand it enough to get far.
2. You don't have to tell them everything or every detail
The main topics we talk about are general industry topics, technical trends, reliability of suppliers, things to watch out for.
The importance of "gossip"
This industry "gossip" is crucial to any business that wants to succeed. Tips about suppliers in a business like ours where people rarely meet in person, means that we can work out which suppliers can be trusted. Discussion between people running only shops can include topics like which couriers are reliable, tactics to identify attempted frauds, which advertising channels work.
There are no crucial trade secrets lost here. At worst, you may help your competitor avoid losing money or their business to those who would hurt both your businesses. At best, you will pick up some clues that save you similar grief.
Wait, you say? What's to stop you spreading bad gossip about my business? What about the destructive whisper-behind-hands gossip that a few use to attempt to destroy reputations.
Well, industry gossip is just like any other. It's not truth or facts and shouldn't be treated as such. Gossip is stories about people and when you listen, you consider who is telling the story and why, their level of understanding the topic, and how reliable their past stories have been.
That also means that you can question interpretations and offer alternative stories when you hear about bad experiences that someone has had with a business that you respect.
