Written by: Vickie Sullivan  |  October 12, 2021

Collaborations Must Be Strategic. Here’s Why

When you are a one-person shop, collaborations are emotionally satisfying. Make sure they are strategic, too.

A lot of us choose collaboration partners based on the emotional connection we have with them; our approaches and personalities mesh. That’s important, but don’t stop there. You must then evaluate their contribution to your work.

Look for these two areas for effective collaborations:

• Impact. Their system boosts your system. They provide a missing piece that makes your work more effective. Example: you’re a consultant and they’re an outsourcing firm that can help implement your findings. Ask yourself: How does your businesses create a bigger impact for your clients and theirs?

• Distribution. They have a network that has perfect referrals for your work or exposure into a target-rich environment. They could use passive income via referral fees. You could use a powerful introduction to qualified buyers. Ask yourself: Who has influence that would grow your business and their bottom line?

Listen: How to Turn Down an Offer to Collaborate 

If they don’t have either of those, then turn it into a mastermind group instead. Be a friend and trade war stories. But don’t spend time collaborating with them. You need folks who can move your work forward.

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