Its no secret that you should keep your customers
close. But, you can not have heard that you
should keep your competition even closer. You
might have heard you should legally spy on your
competition, but thats different than keeping them
close.

Youre likely thinking why should I do such a thing?
Because thats the best way to know what theyre
up to. You positive need to stay on top of things so your
business doesnt get left behind.

How do you keep your competition even closer?
Create joint venture deals with them. Youre quote,
WHAT?! Yes, you read it right. There are many
joint venture deals that you may do where it doesnt
matter that youre in competition with the other
business.

Here are a few:

Develop or create a neutral product together. For
example, co-author an ebook together and split the
profits.

Team up to bring down your biggest competition.
Share valuable understanding with each other. Cut
costs buy sharing equipment and skills. Use the
more funds to run co-op ads. This will not work if
they are your biggest competition.

Sponsor an event together. You would be able to
split the costs and both save funds . You both
would be able to get the word out about your
businesses.

Promote each others products that are related
but do not create a competition. Just bundle them in
a package deal and split the profits.

Create a viral freebie together. You both could run
ads in the freebie. A costless ebook, for example. You
could allow other all the people to give it away. The best
business advertisement wins the most sales.

There are also disadvantages to these joint venture
deals. They may find out important information
about your business that you dont want them to
know, but the same thing could happen to them.

In the long run, you can finish up becoming friends
and partners by developing this relationship. You
can even combine your businesses.