Firstly it can create the illusion that you are a much larger business. It is important when bringing other people into your business, on a project basis, to be flexible. It will offer you a good way to gain new clients without too much risk. It can move your own business to another level or in a new direction.

Growth NOT Losing Control!

Collaboration in business should be viewed as a way to grow rather than lose control! You never know, one day a merger of both businesses could be on the cards if it works well for both parties. Working with others can offer new services or products to your own clients. Collaboration can help you to grow and develop your business, in the longer term without employing staff so don’t dismiss it out of hand if you have an opportunity to work with another business! Working together with other business owners is a great way to extend the offering of your clients without the added cost.

Using other Companies

Offering new services provided by another company, under your own brand name, can really deliver a better service to your clients. The collaboration process can be quite straightforward but needs careful monitoring for quality control. After all, it will have your name above the door when delivering it to your clients! If working together on collaborative projects, it is advisable to choose companies that have the same ethos, work ethic and values as yourself. They will become an extension of your brand. Joint ventures are a great way to access new clients and untapped markets, particularly when your client base may be similar to theirs.

Open to Opportunities

Be open to new opportunities. Do not close the door immediately on any joint venture suggestions. Explore all options if you are approached to work with like minded (but complimentary) businesses. Every opportunity presented is a learning opportunity too but do not get distracted from your core business. An added advantage of working with other business owners is that it will teach you new skills. Don’t fear it, embrace it.

Recommend0 recommendationsPublished in Articles, Company Formation, Growth & Development, Partnerships, Resources Library