#EventManagement #CompetitorAnalysis #BusinessStrategy
Hey everyone! 🌟 So, I’m in a bit of a dilemma and could really use your input. I’m hosting this awesome event for my clients, and guess who wants to crash the party? Yep, the CEO of a major competitor. 💼
Here are my thoughts:
Pros of letting them in:
– Potential market insights
– Possible room for collaboration
– Building relationships in the industry
Cons of letting them in:
– Risk of them poaching my clients
– Revealing my strategies and tactics
So, what would you do in my shoes? Would you let the competitor in or keep them out? And most importantly, why? Let’s discuss and share ideas on how to handle this situation effectively! 🤔💬
Personally, I’m considering setting up a separate meeting with the CEO to gauge their intentions and possibly explore mutual beneficial opportunities. What do you guys think? Let’s brainstorm together! 🚀
Depending on the type of business, not going for full on competition, and see where you can collaborate is always a good thing, new, sustainable way of doing business, and all that.
But I’d be wary to have him walking around a room full of your clients.
I would accept them reaching out, and having a one on one meeting
I laugh it off every time. There is just not much upside in it for me, and I sure dont need another frenemy. But I note their keen interest in my market and might just look into them a little closer (for fun, of course).
Make another event, hire actors to pretend to be clients and invite him. It’ll be hilarious.
No
Let them in, but make them pay full price
I’d suggest a hard no to the event but invite them out for dinner with just you. You could discuss buying them, selling, co-operation etc.
For the no, no excuses, just this event is invite only and limited availability.
Some people have very thick skin, they’d feel no shame asking and no shame in poaching clients at your event.
It’s inappropriate for any business competitor to come to a private event, which I feel this is. As a host, you have every right and reason to not extend the invitation to anyone you feel uncomfortable attending. If you two want to bang heads about the industry, then schedule it at another time.
Let them in, but give them a ‘special’ badge saying ‘competitor’ on it.
Every competitor might turn into a partner or a buyer. They could be checking you out as a competition right now, see if you can convert them to friends. Make a connection, chat about their own challenges and needs, see if there is something you could supplement.
What’s the best possible outcome of them coming? What’s the worst? What’s most likely?
The most likely outcome and worst outcome are pretty much the same. That’s a no for me dawg.
Why don’t you have him bring his clients to meet you. Because I assure you he’s not going there for hugs.
Are you secure or insecure?