Business doesn't have to be a zero-sum game. Instead, work with your competition so everyone comes out on top.
We all know how it goes with competition: You’re polite in public but do everything you can to undercut each other in private. That's just how it works.
But does it have to?
I was excited when I heard that Spotify and Tencent were buying minor shares in each other’s companies last December. Spotify, of course, is the largest music-streaming service in the world, but Tencent has its own music division. The two are definitely competitors, yet both companies saw benefits in cross-investing.
The basic idea: Competitors that do well work make you look better, too. A rising tide lifts all boats.