How to Handle a Competitor Going Out of Business

When The Iron Yard came to San Antonio a few years ago, we on the Codeup team had reason to be concerned. I was CEO at the time. Would a competitor with a 30 city presence be trouble for a company focused on one location?

We didn’t know for certain but our response as a company had to be to up our game. How we did that is a topic for another post. But, we recently saw the competitor fold in San Antonio. We’d won.

How do you deal publicly with a direct competitor going out of business? It’s a touchy subject.

In the case of Codeup, our culture is one of positivity. So, gloating ruthless Larry Ellison style isn’t us. We’re also community-focused so while them leaving town is good for us, it’s not great for San Antonio.

The competitor leaving also had the potential for a negative impact on Codeup: If the competitor fails does that mean Codeup is next?

So, a public response has to solve for both of these constraints. We can’t be jerks and do this:

We also need to remind the public that our company is doing well.

I was particularly proud of how our CEO, Kay, responded. Did just what we needed to meet these constraints:

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