Some people or businesses are afraid of competition, and have fear or disdain of their competitors. As a small business owner, I personally think competition can be a good thing, and I am glad to not only have some excellent established competitors in the market, but I even turn to them for help and products frequently. There has been more than one instance when I have been out of stock on a particular part or product that I needed either for something for my own use or for a customer. If I need it quickly and can’t wait for the vendor to ship it to me, I have no problem getting on the phone and then making a quick trip to King’s Hobby Shop or HobbyTown and buying a part from them, even paying full retail. I have often had customers come in the store saying they were sent to me by someone at one of the other stores as well. I don’t mind sending a customer to one of the aforementioned competitors if I can’t provide what they are looking for. While I may run the risk of losing a customer, I generally find that instead, by looking out for the customer’s best interest, that they will come back to me again. When products are a commodity and prices are similar wherever you go, honesty and service are the things that will differentiate your business from someone else. And, if my competitors are also honest and provide good service, that makes my entire industry look good, and that is still good for my business as well. In fact, I like my competition so much, I sometimes even advertise for them, just as I have done in this post.
A great example of using my competition to our mutual benefit is my relationship with other mobile slot car racing providers around the country. While I have no aversion to travel, and have done so frequently, why should I go to Detroit from Austin when I know there is a perfectly capable and reputable operator already in Michigan? I am happy to refer the business to my friend Ron at Slot Car Rental, just as I know he is happy to send me any requests for racing in Texas. Same thing with other track operators in Florida, New Jersey, and other locations. If we help each other out, it’s better for all of us, and our customer base and our industry will grow.
Something I hear frequently from “Brick and Mortar” retailers is that they have to compete with the internet resellers, and they don’t like the competition. I say “Bring it on!”. Again, I don’t see it as competition, but as an opportunity for us all to shine. I don’t know how many times I have had a rare slot car in my possession that someone was looking for online and I was the only one that had it, or the reverse of that situation, and business has been referred both ways there as well. Just recently, I purchased a rare Scalextric Limited Edition set of James Hunt vs. Niki Lauda McLaren and Ferrari F1 cars, which I really needed for our upcoming Premier Party for “Rush” for which we are hosting a party at a local theater. (For info or tickets to this event, click here) These were no longer available from my suppliers, but Electric Dreams had a set in stock. I was happy to pay full retail for the set, and knew that as a reputable, professional company, they would deliver a quality product to me in a timely fashion. Of course, they came through with flying colors, and I was very happy with my purchase from them. I have also had the pleasure of sending products to them or other reseller customers as well.
A little competition can be a healthy thing. It drives everyone to do better, keeps prices reasonable, and gives consumers a choice. In a niche market like slot cars, not everyone can have everything or do everything all the time, and when there is the opportunity to work with someone rather than against them, I find it is frequently easier and more profitable to cooperate. So, a big “Thank you” to my competition, and keep up the good work, and “Thank you” to my readers as well for finishing my lengthier than normal blog.
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