Transforming Connections - How to Strategically Collaborate For Business Growth

In a great economy, collaboration flows from the positive energy of growth. In a down economy, with people stressed about money and just maintaining, collaboration can be seen as an "extra" when in reality its importance to business growth increases. Without collaboration businesses create limits, forcing themselves into competition with others. The impact of competitive thinking limits financial success. To grow business, during a down or up economy, one must create and leverage relationships, building a win-win strategy for everyone involved.

We find evidence and examples of financial growth through collaboration in a multitude of business books very familiar to the concerned businessperson. These books report the same idea, if you are not successful at a specific task, find someone who is and get them working with you to support what you want to accomplish.

In order to survive and hopefully flourish, business owners need to recognize the value in collaborating with others both outside and inside their own industry. Fortunately, entrepreneurs are amazingly, and almost innately adept at collaboration on a daily basis. But how does that personal skill translate into business collaboration? And how does one go about building the relationships needed to start an effective collaboration?

Before all else, successful collaborators must fundamentally embody a mentality of working together. They must shift their thinking from a competition view, "I win the client, they lose the client," to a view of collaboration, "We both get a piece of the pie." The change in mindset from adversarial to a win-win for all parties allows a business owner to open their mind and embrace opportunities otherwise left behind. Once the mindset is ready, there are simple steps to follow to make meaningful collaboration happen:

Step 1: Know thyself and thy business

Know who you are and what you want so you can match your strengths and desires to other collaborators' strengths and desires. Answer these questions:

· What is your mission in the world as a business?

· What is your vision for where you are going?

· Who is your target market? Be specific.

· What are you good at and love to do? What do you not love to do?

Example: Graphic Designer: I love to create print media for small businesses. I create the logo, handouts, brochures, letterhead, envelopes, etc. My mission is to impact and improve our global environment. I want to work with business owners in the green and renewable energy field looking for a visual identity so they can land venture capital funding. I'm great at print media. I don't like to do the web design or project manage the printing for my designed and created materials. I am looking for a collaborator who will be able to help with web design and project management.

Step 2: Know your boundaries

Know what you are willing to share and what is important to protect. Get clear on the focus you are willing to give to the project/effort. Answer these questions:

· What am I willing to give?

· What do I want to keep to myself?

· Before I work with someone on a project, do I need a non-disclosure agreement (NDA)?

· Do we need to sign a contract?

· Is this a short term or long-term collaboration?

Example: I have a specific way of processing my clients, but I don't need to share that with anyone because it is an internal process. I am willing to prioritize my collaboration partners' work above others. I am willing to give a special discount to my collaborators' customers in return for exclusively promoting my services. I am willing to provide a referral fee to my collaborators. I need a written reciprocal affiliate agreement that my collaborators and I sign.

Step 3: Define your project and its goals

Collaboration means you have a project to work on. So what project are you creating with a win-win for all involved? Answer these questions:

· What do I want to make happen?

· What is the specific end goal for my business?

· What would my collaborators get out of working with me?

Example: As a graphic designer I want to increase my own sales by 50%. I want to create a bundled package with another webpage graphic designer and a printer to provide a comprehensive offering to our shared target market. My goals are to entice my existing clients to refresh their collateral and to bring on new clients through my new collaborative partners. My partners get access to a new bank of existing clients.

Step 4: Find your collaborative match

With the above information, you can find collaborators meeting your needs. Ask current business contacts if they can identify a person who can fill a role for you. E Women Network's Accelerated Networking Process is a perfect venue for this type of contact. Then interview potential collaborative partners to see if they match your expectations. Answer these questions:

· Do they have the same values and vision you have?

· What kinds of references do they have around town?

· Do they follow through on work?

Step 5: Ask and take action

Approach the people you want to work with. Take them to coffee. Show them what you want to do and how it benefits them and you. If the first person you contact demonstrates a difference in values, or is not interested, find someone else. Continue the process until you have found someone you are comfortable working with and whom you believe will meet your goals and expectations. Once you have found them, continue to approach the process of collaboration openly and with a win-win mindset.

Through collaboration, new and exciting ideas and projects are created on a daily basis. Become a part of the grassroots collaboration women business owners have been using for years to make change occur. Now is the time to take collaboration from a personal and occasional use to a systemic and integral part of our business community.