What is coopetition? And why is it important to me?
Several months ago, I wrote an Expert Opinion article for the Medical Marijuana Business Daily. It was called, “To Build Your Medical Marijuana Business, Get Outta the Basement”. In this article, I brought up a term that I first learned in the high tech market; coopetition. What does it mean? It means exactly what it sounds like: cooperating with the competition. Meet your competitors, examine their strengths and learn their weaknesses. Know how your business is different from theirs. Establish a way to communicate with one another in a respectful way.
In this industry, we have many adversaries but they don’t have to be our fellow pioneers in this industry. We need to work together to help grow this industry.
I bring this point up again today because I still talk to people regularly who don’t want to associate with anyone else in the industry. They just want to run their business day after day. Well the problem with that mentality is that you may find yourself alone, without allies when you have the greatest need for help! And it’s the businesses and individuals who are out there advocating for everyone’s rights that are paving the way for your future. You need to be a part of that and support it.
Read the article: To Build Your Medical Marijuana Business, Get Outta the Basement