Whether you are attempting to start a business from an idea or expanding a business that has been in existence for several years, collaboration will always provide you with benefits. In this article, I would like to focus on early stage start-ups and the importance of collaboration in such cases.
If I had to offer just one factor that has the greatest impact on an entrepreneur’s success, I would likely choose “collaboration or the lack thereof”. I have seen the presence or absence of collaboration literally push entrepreneurs into a successful situation or off a cliff into a disaster.
The world just works better when there is collaboration. With it, great accomplishments can happen. Without it, few good things occur.
So, what are the key benefits that you can expect from being collaborative and seeking others to collaborate with you? There are many benefits, but they can generally be described in a rather simple ways.
Expect to make meaningful progress faster and to avoid costly mistakes along the way. Expect to accomplish goals that you alone cannot reach. Expect to be able to “see around corners” because you will suddenly have many different viewpoints beyond your own.
Now, having confessed the many benefits of collaboration, it is fair to make certain that you also realize that successful collaborations are usually not accidental. That is, there has to be structure to the process. Collaboration without cooperation is a “waste of time and energy”. Not only do you need structure but, depending upon the goals you are seeking, you just may have to spend some time selecting the most appropriate type of collaboration to use.
Yes, there are different types of collaborations that can be used to solve particular tasks. Perhaps the best way to approach the entire issue of collaboration is to begin the process by honestly accessing what your “needs” are. that is to say, what steps in your business plan can you definitely not properly handle yourself?
Here are a few typical methods of collaborations that are used by entrepreneurs depending upon the circumstances of their projects:
Co-Founders: This is a scary thought for some. But, if you are wanting to start a business from an idea, you might want to consider this possibility. You are quite likely going to need someone to help you to accomplish critical responsibilities during the start-up phase. Choose wisely by selecting someone whose personality, skills and experience will complement yours.
Crowdfunding: If fundraising is a major concern, you should consider this approach. There are many companies available to assist you through the process. Certainly, with this issue you will want to handle all aspects of the process correctly as it will be critical to do so. There is a tremendous amount of effort required to launch a new enterprise, so allow the “experts” to assist and guide.
Incubators: Sometimes the best approach will be to surround yourself with critical resources to speed the overall process. By making use of incubators (companies focused on assisting early stage business efforts), you have the advantage of being able to receive guidance from development of your idea, raising money, gathering talented people to help you with specific tasks like manufacturing, etc.
Brainstorming: Sometimes collaboration can be achieved in rather unusual ways. For example, in some cities there are business groups where entrepreneurs and small business owners, investors and inventors meet and share ideas. This can be useful in a number of ways should you find such a locale in your city. It is an excellent way to meet other individuals who have similar aspirations.
This article was written by SDK Hunter Consulting Group
About The Author:
Sherman Hunter and SDK Hunter Consulting Group staff consultants provide global moneymaking opportunities and proprietary strategies that quickly accelerate business activity. You may familiarize yourself with these unique concepts by visiting the SDK Hunter Consulting Group blog located at: http://sdkhunter.com
NOTE: You have full permission to reprint this article within your website or newsletter as long as you leave the article fully intact and include the “About The Authors” resource box.