Why you should collaborate instead of compete

Hi Claire Whitelaw Brown here from CWB Business Growth Strategies.

As per one Stephen Coveys book, The 7 Habits of Highly effective people, a habit that all successful people do is to Synergize with others.

Imagine there are two people, one has a tin of beans and the other has a tin opener. Both are hungry. if they work alone they will both remain hungry but if they were to collaborate together then they will both eat.

Related Article: 5 Reasons Why Women Should Support Each Other In Business

Have you thought about how instead of working alone or competing over the same set of customers with someone you know, you could instead work together to provide a product or service that is completely outstanding and that would make you BOTH look like super hero to your customers?

When two great minds come together they can create far more than the sum of 1+1=2, 1+1 often = 5 in terms of the value you can offer and when you create something amazingly valuable the returns become experiential.

A great example of this is where business service businesses such as:

book-keepers,
accountants,
business insurers
business systems
Financial advisers

instead of having individual businesses, individual marketing strategies and individual overheads like rent, they come together under one roof, one brand and one set of overheads. They then refer business between the divisions which benefits the customer because they build a relationship with a firm with all these different offerings in one place and the business owners jointly share in the benefits of increased business.

You don’t have to go into business with someone else though to create an effective synergy, sometimes it’s as simple as offering great value to your market by doing a project together.

At the moment I am working with another business consultants on a podcast series that’s coming out in October that’s aimed at helping women become fierce in business. We both have different experience and expertise and combined we want to add outstanding value to our market. And this is why you should collaborate instead of compete.

I’d love to know how your ideas about how you could create an outstanding synergy with someone else to benefit your customers. Leave me a comment below.

Until next time, have a great week everyone.

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Claire Whitelaw Brown

Business Consultant at CWB Growth Business Strategies
Claire is a business strategist passionate about helping accountants grow revenue, profits and cash flow.

As well as being a Chartered Management Accountant (CIMA) and ex-CFO with over 20 years experience, she has also worked extensively with small and medium sized business owners to help them grow profitable businesses.

She's also a certified coach, NLP practitioner, Metadynamics TM Consultant and contributor for Kochie’s Business Builders.
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