In this tech-savvy world, almost everyone wants to stay ahead of each other. The competition becomes even tougher in the case of the corporate world. Suppose if you are a founder of a startup and by chance, a founder of your rival startup wishes to meet you. You will be left bewildered and lots of questions will hover over your mind.
Who Are Your Startup Rivals?
A firm or company who ends up capturing your profit share in the current market and utilizing their resources and manpower in a much better way are your rivals. Both firms will have a common objective.
Reasons To Reach Competition And Their Investors
- Learning by interacting with each other –
Almost every other startup in this corporate world learns from each other. If even a startup fails miserably, other startups and their founders learn from their mistakes and do not commit it further. By meeting your startup rival in person, both of you can learn valuable things from each other. - Multiple games –
Who knows your this little meeting may turn you into big partners for playing together in this corporate world and helping each other with required resources.
- Investment –
Startup rivals can help your startup grow if they wish to invest in your firm. This will be beneficial for both of the startups as it will help both of it to expand it further. Just like many firms are coming together to invest in research and development.
Points To Note About Handling The Conversation With Startup Rivals
- Ask questions – This will help you clear many doubts and will even keep the conversation in your control.
- Lie – It is better not to disclose everything about your startup. Hide personal information and secrets to staying unique from others.
- Hide your weakness – By any cost, don’t show the weakness of your startup, your weakness may be the strength for another person.
- Learn to say no – One does not need to respond to personal questions which you are not satisfied with. It’s better to begin clarifying the question and shift the topic.
- Know what you wish to know – Your startup rival has arranged this meeting as he wants pieces of information from you. Therefore, you need to do the same, prepare a list of questions which you should ask from him too.
