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3 Reasons why collaborating in business can be good for you

AM Total Business Solutions Ltd - www.angelarmorris.com

By Angela Morris

3 Reasons why collaborating in business can be good for you

Have you given any thought to collaborating in business? Did you know that this is an option you could consider if you need to give your business a boost?

              So what is “collaborating” in business all about?

A quick definition:  Collaboration enables individuals to work together to achieve a defined and common business purpose.

 

Here are 3 C’s for collaboration and how it could benefit  your business:

 

Invitation

C- Connecting. If you are able to connect with someone who has a business that compliments yours this can be helpful in terms of doing commission splits on referrals which work both ways. As a word of caution: only go with those people you feel comfortable with (irrespective of what they can offer)  and don’t be too diverse in your product/service spread. Remember this is about collaborating not feeling manipulated into doing something you are not really keen on!

C- Contribution. If you are working on a joint business venture (not the same as a legal business partnership) be clear about what each party is bringing to the party! Stay realistic. Do not offer the world, unless you really have the world to give! This will avoid any confusion or resentments when the money starts to come in. No one really complains about effort….until the pot starts filling up and then the word “effort” suddenly takes on a whole new meaning!

tug of war

 

C- Communication. Keep talking to each other. Even the best of relationships breakdown when no dialogue is taking place on a regular basis. As part of your collaborating, it is important that you take responsibility for keeping the other party informed of any important changes. Keep your expectations realistic too! This is also how you build trust between each other. Oh and if you do have “trust issues” then forget about being in business!

If you have not tried collaborating yet, why not look around for someone local who has complementary services to yours? Who knows a great collaboration may be born! Why? Because….

 

“Life’s Too Short!”

 

Further Reading

Further reading

 

 

/The12 habits of highly collaborative organizations

5 reasons why collaboration is essential in todays business-environment