Approaching Competitors and Finding Value in Discussions

When engaging with competitors, it's important to be prepared and establish what you are willing to discuss. Engaging in conversations with competitors can provide valuable insights into the market and industry. The information exchange can help you understand commonalities and gain different perspectives. However, caution should be exercised in sharing sensitive information such as revenue and strategic plans. Generalities can be discussed, such as target market segments and partnerships. Understanding competitor motivations and the VC landscape can also be insightful. Having clarity on what you are comfortable sharing and being mindful of earned insights is key to productive conversations with competitors.