For Denton entrepreneurs: Why collaboration beats competition

When I came to the Center for Women Entrepreneurs from a small business development center, I noticed many of the clients I had worked with at the center were also seeking assistance at the CWE.

Rather than seeing it as a duplication of services, I saw it as a strength. Entrepreneurs were taking advantage of different areas of expertise, and the different organizations were helping them succeed.

As I became more involved in the entrepreneurial ecosystem, I saw it extended far beyond our two organizations. Entrepreneurs attended chamber events, met with their local economic development corporations, used Small Business Association resources, visited their bankers and accountants, and attended programs offered by entrepreneurial organizations and universities.

One recent example stands out. We have an ecosystem partner from Sul Ross Small Business Development Center that has helped entrepreneurs prepare applications for our Texas rural grant.

As a result, seven of the 10 winners came from that region. It was a win for Sul Ross SBDC, the entrepreneurs and our center.

Entrepreneurs are not just building their businesses; they are building a stronger base of resources. Entrepreneurs who scaled further often leveraged the strengths of the ecosystem.

We have seen many women who went through the CWE accelerator program move on to the Goldman Sachs program or become certified through the Women’s Business Council Southwest. These referrals help entrepreneurs as they outgrow some of their current resources.

Many successful entrepreneurs I’ve served embrace this same principle. Too often, business owners view everyone in their industry as competition. Strong entrepreneurs build relationships with businesses whose strengths complement their own. A Realtor who forges meaningful relationships with trusted mortgage companies, lenders, insurance agents and home inspectors becomes a better resource for their clients.

At first blush, sending a customer somewhere else doesn’t make sense. But in reality, it builds credibility and trust. Customers remember the businesses that place their own needs over profit. Those customers often post positive reviews or refer potential customers to them. The businesses that grow the strongest are typically the ones that become trusted resources, not just trusted providers.

Healthy competition certainly has its place and often makes each business stronger. It encourages innovation and challenges us to improve what we do. Competition doesn’t have to prevent you from collaborating. In fact, collaboration often expands your reach, strengthens your reputation and creates opportunities that couldn’t be done on your own.

Some of the most successful entrepreneurs I’ve watched grow and succeed over the years rarely try to do everything themselves. They build networks, create partnerships and become trusted resources in their communities. In the long run, collaboration doesn’t weaken your business, it strengthens it. Sometimes the best business strategy isn’t asking “How do I beat the competition?” It’s asking, “Who can I help, and who can help me?”