Why Collaboration Is Important in Business
Running a business can be a lonely experience. Bearing all the responsibilities can feel exhilarating at times, but more often than not, it can feel overwhelming. Not only can these realities negatively impact your experience as a business owner, but they can also slow your business growth.
It turns out that collaboration with other like-minded individuals is not only invigorating for you, but also good for your business. Learning from the experiences of others and sharing and analyzing ideas will accelerate your growth as a leader. Collaboration is part of a successful growth strategy and there is considerable new research that supports collaboration in business.
Here are some of the ways that collaboration benefits you and your business.
If networking in large social gatherings is not for you, collaboration is a great alternative. Sitting down with or meeting regularly like-minded individuals to work on common issues or problems builds relationships and professional credibility. This is also how you find people you may need in the future and how others find you.
Think Big Picture
The best way to learn about industry-specific challenges and opportunities is to meet others in your industry. If you want to learn more broadly about managing a team or building your business, seek out others with different skillsets and backgrounds. Collaboration allows you to learn from eachother. Input from others can be very compelling and enable you to see your business from the outside in.
What do you do when you encounter a new obstacle and you're struggling to identify what to do next? You could use trial and error and hope for the best, or you could reach out to someone to help you navigate the situation. When you collaborate with others, they may help you see a different perspective. Other business owners are not bogged down with your day-to-day details and can help you to see solutions that may be illusive to you. People that do not work for you can give insight into new trends or angles.
In addition, two or more heads are always better than one. This is why scientists work together. People can solve problems faster and more efficiently with the input of others.
You may not think you have time for collaboration, but making time for collaboration now may save you time in the long run. We always recommend collaborative efforts for small and medium-sized businesses, especially when business owners tend to work alone. You may be amazed at how helpful and eye-opening collaboration is. Collaboration can lead to increased efficiency, productivity, and a renewed sense of purpose, for you, the owner.
Jigsaw helps small & medium-sized business owners succeed by focusing on the highest impact opportunities to build their businesses, while staying true to their life's ambitions - building sustainable businesses that works for their lives, rather than competing with them. If you have any questions about this article or would like to talk to us about your business or enroll in one of our programs, we encourage you to contact us.
Yoon, S.W., Matsui, M., Yamada, T. et al. Analysis of effectiveness and benefits of collaboration modes with information- and knowledge-sharing. J Intell Manuf 22, 101–112 (2011).