In previous blogs we have discussed business planning particularly risk minimisation. When you go into business there are all sorts of risks. Another tool in your business tool-box is collaboration. What I mean by collaboration is to get together with others and share ideas. I see three distinct methods to collaborate that may benefit your business:

1.       Form a board of advisors

2.       Form alliances and allegiances

3.       Realize that the task in too large for one and form a company with others

This first method involves the buying in of mentor, accountant, and solicitor to buy their advice and time to assist you in your business. These people are paid professionals and in some instances costly. The amount of time you get is subject to the amount of funds you have!

The second method is to form alliances and allegiances with others. These could be you joining professional clubs such as BNI, chamber of commerce organizations etc. This enables you to listen to others successes and failures and find empathy with being in business. Forming allegiances allows you leverage others in the organization that you mutually belong to gain the skills and knowledge for your business and build the business!

The third method is to realize that you cannot do it alone and need to find a like minded individual to join forces with! This is the hardest method, however, both parties must be open, honest and have complete trust! It can work with the right people! Tasks and then shared and you can get a certain amount of synergy!

Combinations of the above three methods also are common and it is important to realize that you don’t have to limited to those items. Collaboration might just save your business or it may be the difference between doing well and doing really well.

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Andrew

Half of the Anywhere Business Network

Mindset, Learning, Collaboration