Business Lessons From Wicked Tuna

Wicked TunaWicked Tuna on the National Geographic channel chronicles the work of tuna boats. Aside from the day-to-day work of the boats, they are engaged in a competition with each other to see which crew can bring in the most money. Showing how the crews work and how they interact with other boats offers an excellent example of how businesses can compete and cooperate at the same time.

On one episode, a boat fended off a shark attack. While the boat was undamaged, the shark ate the bait that the crew needed to attract tuna. Despite competing for the top spot, another tuna boat provided them with extra bait. Withholding the bait could have ensured an easier victory in the competition, but it could have also jeopardized the crews ability to make a living. The second crew kept that in mind and helped out.

Companies in the same industry compete for customers, but they can also work together. In the pharmaceutical industry compete in some industry segments while providing each other with components for other medications. It is commonplace for small businesspeople to avoid connecting with competitors, but it is a great resource of which they deprive themselves. Connecting with people in your own industry can increase your knowledge and build a network that can assist you in case of a setback.