Ever wonder why the Burger Kings always move across the street from McDonalds? Or the hair salons comprise one whole corner of town? It’s the concept of co-ompetition. The reason we have malls. Because once the Burger King moves across the street from McDonalds, both restaurants do better.
Here’s a prime example of two competitors working together from a logistics standpoint: Nestle and Mars have been sharing trucks to deliver combined loads of chocolate. In just 11 weeks, over 60 loads were combined with approximately 7,500 miles of duplicate truck journeys eliminated.
This same concept can be used across the industry, including in the aging and technology industry.
In fact, I feel like even more-so in this industry, where SO much education is required. Consumers don’t not only not know what the product is, they also need to understand why they need it. The trick is, we’re not replacing anything concrete, it’s something new. Like when the Internet first came about to consumers in the ’90s and business people needed to be convinced that the Internet was probably a good idea and conceive of how they were going to use it to better their businesses and make life easier for their employees.
We have decided to start up our own aging & technology industry consortium. No official name yet, but it’s going to be an organization where we all join (it’ll be extremely cost-effective to join) and combine efforts. Together we can target big goals (large marketing/advertising campaigns, lobbying for remibursement, educating the market as a whole on the use of technology for our aging population, research & focus groups, business plan implementation for LTC communities, etc.
This idea was born a few months back on one of our weekly aging & technology conference calls. The topic that week was co-ompetition and was being led by Presto! CEO, Peter Radsliff. He spoke about the concept of all of us working together and something clicked with everyone on that call. Everyone got very excited and enthusiastic. A real concept had been born! After that call, we continued to think through this idea. I started mulling the idea with Michael Sarfatti from Smart Silvers (who had also been on the call). He told Susan Ayers Walker (founder of Smart Silvers) and it’s history from there. Susan set up a time and place for all of us to meet within the exhibit floor at CES. About 15 of us met, spoke, shared our visions & passions and started running from there.
Please consider joining our effort & reaping the benefits!!! For more information, please contact me: email@example.com
In support of co-ompetition, we are hosting a technology and aging pavilion at EHX (Electronic House Expo) in March This is open to any and every vendor (and dealer to attend) in the aging and tech industry!!! We are still looking to find other vendors to fill the pavilion so we can make a big splash. Included in each kiosk within the pavilion will be a presentation area along with presentation time and some educational tracks/panels for dealers.
Thanks and remember, The Aging Tsunami Will Float All Boats!!!!