Pros and Cons of Collaborating
“Two entrepreneurs working together are more powerful than one”
“You HAVE to collaborate to grow your business”
“Collaboration is key for success”
As an entrepreneur you probably hear things like this all the time!
Some of us are expert collaborators. Others try to collaborate but struggle because of not knowing who to connect with and being unsure about who to trust. Some of us know that we need to consider collaborating, but we don’t know where to start.
Collaboration has been so powerful for me. I’ve worked with some incredible people like Natasa Denman and Elizabeth Campbell. Together we’ve created amazing value for our clients, we’ve learned a ton from one another and we’ve had WAAAY too much fun while doing it! Everyone in these partnerships has gained something from working together and we’ve all come out better off because of collaborating.
But I haven’t always been so fortunate…I’ve talked before about getting bitten by business sharks and about the challenges I went through when I chose to work with people who I knew didn’t have my best interests at heart. It was tough to go through that but I chose to keep collaborating because I know how powerful it can be!
Are you still unsure about collaborating with other entrepreneurs? Think about the pros and cons…
More exposure for your business–partnerships automatically get your business in front of more people because you gain access to an entirely new network. Even if your partner has a small network every new connection can help. Collaborating is one of the best ways to get your business noticed!
Access to someone else’s knowledge and experience–when you’re starting out, being an entrepreneur can be full of trial and error, testing new things and trying to perfect your systems. This is why it can be so helpful to partner with someone who knows more than you do…someone who has been in business longer will probably have more connections, more experience and plenty of advice to offer. If someone experienced and trustworthy is willing to partner with you, don’t miss out
Lasting friendships that go beyond business–yes partnerships are good for your business, but they have SO many benefits beyond that. Some of my partners have become my best friends and I can turn to them for advice at any time. That is a HUGE pro for collaboration!
“I haven’t always been so fortunate…I’ve talked before about getting bitten by business sharks and about the challenges I went through when I chose to work with people who I knew didn’t have my best interests at heart.”
Collaborating requires commitment–being a business owner can take a lot of time and resources, especially if you’re doing everything on your own. Collaborating with others requires time and you don’t want to enter a partnership if you can’t fully commit to it! So make sure you have time before you promise to take on something new.
You might get bitten by a shark–yes it’s unfortunate, but it’s part of life. Even if you’re careful and you do lots of research, it’s possible that you’ll pick the wrong person to collaborate with. This could cost you time and money, and it might stress you out for awhile. But for every shark out there you’ll find plenty of “dolphins”, the nice people who want to help you succeed.
Things don’t always work out–sometimes an opportunity that looks really attractive and seems really useful just doesn’t turn out the way that you’d hope. Again, that’s business! It’s disappointing but you can learn from every failure.
Do you need more tips for collaborating? Attend my next half-day workshop: