Promoting your industry is good business
A young entrepreneur decided to locate his web design company in Silicon Valley because this increased opportunities for interaction with peers in the industry.
Whenever he and his team of designers were stuck for ideas on a project they would go down to the local café to recharge and recreate playing video games. Invariably they would meet other designers with whom they could “bounce around some ideas”. This often would lead to a creative spark that resulted in an innovative idea for their project.
Moving with industry peers also enabled the young entrepreneur to build a network of specialist support that could be promoted to the wider pool of clients all these other industry peers shared.
Industry peers who collaborate can become more competitive individually by delivering improved quality standards.
Industry Knowledge Community
Many cities worldwide are now promoting their versions of Silicon Valley by providing technology companies with incentives to establish an industry knowledge community.
Smaller businesses can acquire competitive advantage over large corporations by collaborating and creating spinoff products. Desktop and mobile computing businesses for instance created many new products from inventions developed at laboratories in large corporations and universities.
A team of engineers were given laboratory space and funding by a multinational electronics company to work on innovative electronic component designs. If they were successful they would have joint ownership of the design property rights with the company. This would give them royalties in the event of product commercialisation.
Industry Trade Promotion
Specific trade organisations too can take the initiative to encourage cooperation amongst members of the industry by providing a platform to share ideas and experiences.
Florist worldwide are highly networked. In many British cities you can walk into a florist shop and place an order for delivery of floral arrangements in another part of the world. This is because many small independent shops are a part of a global network of florist shops.
Manufacturers too can become part of an online industry trade promotion platform that promotes their services to wholesalers worldwide. Through online trade promotions a community of industry specific small and medium sized producers can reach international markets.
Seek out consulting advice on how to establish an industry collaboration platform to promote and market your business.
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