Do you ever connect with competing businesses to work together?

[Skysaint]

Some of them can actually help you to grow your business to a reasonable extent especially when you know what you're doing. If you have a small business you can profit a lot from them.

You may be right but not when you own your own business and officially their competitor. You could learn a thing or two if you're working under them maybe as an apprentice.

 

[Chibson]

That is right. Working together with other businesses can make you grow so big. This is because they challenge you to try out new things and keep improving the quality of your products and services.

Yes, you will also have the opportunity to learn their strategies. There are strategies that actually made them to grow so be so you can be able to learn it and also make your business big.

 

[Sincerem]

When a huge business merges with another business, then it is actually called a joint-venture. Such kind of ventures might be or they might not be successful depending on the business strategy.

One thing about joint venture is that it is always being done by a group of people that have been in the same area of business for a long time and probably they understand each other very well , but it will be very difficult for you to easily be accepted into organisation you were not part of before.

 

[Abigael]

When a huge business merges with another business, then it is actually called a joint-venture. Such kind of ventures might be or they might not be successful depending on the business strategy.

I think such a joint venture may become successful because now you will be getting all customers. Then you can agree on the right way to share profits such that each party gets satisfied.

 

[Good-Person]

Yes, you will also have the opportunity to learn their strategies. There are strategies that actually made them to grow so be so you can be able to learn it and also make your business big.

It is important to learn from others, but it is also important to make sure that you also develop your own plans and business techniques that may help you to trade and sustain your business.

 

[Chibson]

It is important to learn from others, but it is also important to make sure that you also develop your own plans and business techniques that may help you to trade and sustain your business.

you don't just copy people and do everything that they're doing. If you're copying successful businesses you need to try as much as possible to learn your own techniques the right way.

 

[eenya001]

That may be true but I think everybody have their own strategy when it comes to running businesses. In such kind of combination it is only the small business that will benefit more.

There are some big brands that a merger would also do them right, I remember when access bank and diamond bank had a merger in my country, it took them to the top of the banking chain.

 

[Chibson]

There are some big brands that a merger would also do them right, I remember when access bank and diamond bank had a merger in my country, it took them to the top of the banking chain.

I think that may be a different ball game. I think after merging the owner of the two banks became one but that may not be the case in some businesses. some big businesses will always request you to sell your own little business to them if they find out that you are a threat.

 

[Connor909]

It is conceivable for individuals to collaborate with rival companies. For instance, people and businesses might work together on collaborative initiatives to generate new goods and services or build strategic alliances to pool resources, knowledge, and technology. In order to acquire a competitive edge in their respective marketplaces, individuals can also team up to pool their talents and knowledge.

 

[Immilash1]

No not at all, but when I have my business I try and make it the best and make it a way lot of customers Will like it. Knowing how to manage your business is very important than having a joint business.

 

[Chibson]

No not at all, but when I have my business I try and make it the best and make it a way lot of customers Will like it. Knowing how to manage your business is very important than having a joint business.

I think the major reason people do such kind of thing is because they want some publicity for their businesses. When you connect with already popular businesses they can easily help you make your own popular but I think they will be getting some percentage of the profit.

 

[Immilash1]

I think the major reason people do such kind of thing is because they want some publicity for their businesses. When you connect with already popular businesses they can easily help you make your own popular but I think they will be getting some percentage of the profit.

That's true, what you just said is the real truth, and it will help in the growth of your business, anything that will help in the growth of your business you are expected to do it even if it will cost you Money.

 

[eenya001]

I think such a joint venture may become successful because now you will be getting all customers. Then you can agree on the right way to share profits such that each party gets satisfied.

Joint venture is beneficial to the both parties that are involved, and this is one of the reasons they both decide to partner as they know it would be mutually beneficial to the both parties.

 

[Immilash1]

Joint venture is beneficial to the both parties that are involved, and this is one of the reasons they both decide to partner as they know it would be mutually beneficial to the both parties.

You are right, but if you are doing well in your business to me I don't think there's any need to join your business, but like they say do what's the best for you.

 

[Chibson]

That's true, what you just said is the real truth, and it will help in the growth of your business, anything that will help in the growth of your business you are expected to do it even if it will cost you Money.

sometimes in business the more money you spend the more money you are going to make. Whenever you channel money in the right direction in a business venture you are going to make more money on the long run.

 

[Imran_Noori]

I don't think if coming into partnership with competing business is a bad idea, in other to improve more skills in your business, you can come together and bring out new idea.

I agree with you, partnering with competing businesses will help you both because there will be no more competitions between you and you will come with a combination of two ideas.

 

[Immilash1]

sometimes in business the more money you spend the more money you are going to make. Whenever you channel money in the right direction in a business venture you are going to make more money on the long run.

You got it right, normally if you invest a good amount of money on your business you are going to be earning a considerable amount of money from it.

 

[Chibson]

You got it right, normally if you invest a good amount of money on your business you are going to be earning a considerable amount of money from it.

Yeah, businesses require good financing to be successful. If you start a business today and you will bring out a lot of money to advertise it through social media and other platforms you will actually be much more successful.

 

[Immilash1]

Yeah, businesses require good financing to be successful. If you start a business today and you will bring out a lot of money to advertise it through social media and other platforms you will actually be much more successful.

Social media do also help in our businesses but only if you know how to advertise your products, but if you don't know how to go about it, it will not be of a help to you.

 

[Chibson]

Social media do also help in our businesses but only if you know how to advertise your products, but if you don't know how to go about it, it will not be of a help to you.

Advertising your product on social media is one of the easiest things you can do. Sometimes there are local groups where people use to advertise their businesses and I think it is effective.