9 Ways Business Collaboration Supports Your Growth

Saying ‘I can do this myself’ is the equivalent of saying, ‘I don’t leverage and the outcome of my final work will be at best average.’ This article is where business collaboration can be a powerful growth tool.

When you learn to embrace the skills and talents of others, the end result can be a massive plus to your business. An individual will never be able to champion all the skill sets themselves, but when you change your attitude, you change your professional path for the better.

As an example, my business needed a bigger space and had been in its previous office since September 2009. The idea of working with other complimentary businesses, where ideas are shared and the opportunity to cross-fertilise and work together seemed an attractive idea. It’s a bit like Napoleon Hill’s, ‘mastermind’ alliance. This principal is based on a number of people with shared goals working together for the attainment of a common objective. The underlying theory is that success does not come without the co-operation of others.

The company is now located in new offices (in Poole) and we now have a much bigger space where costs are shared (and making savings per month from an individual office), also additional revenue avenues are now being created from businesses working together (and not necessarily employing a sales person).

It’s time for small companies to judge, evaluate and work in partnership with others who can fuel your business. Entrepreneurs are, by nature, control freaks. Too many roles are taken on-board; too much responsibility is on one pair of shoulders and becomes an isolating journey. What a business needs are others on-board who share your beliefs and push your business in the right direction. To do this you need to look at your options and priorities.

Acknowledge what you are lacking in your business and then find the best way for others to participate. In the case of The ID Group, one area was the resource of producing web film content. The combined result of pooled experience can only add to the business by creating collaborative relationships.

Here are the nine ‘at a glance’ reasons why collaborative relationships work:

–       a huge amount of intellectual capital ie. utilise someone else’s knowledge

–       the ability to join forces with other like minded and hungry people

–       new distribution channels

–       sharing of costs

–       risks are low through business collaboration

–       provides flexibility in how you operate

–       strengthens expertise to your audience

–       advantages of scale and speed at application

–       creative force is shared without being the burden on your shoulders

You don’t have to do everything yourself, it can become blinkered and limiting, but if opportunity arises that is flexible, safe, trusted and you can sleep at night, what is stopping you? Someone will always have what you are lacking.