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Collaboration Drives Performance for Small Business

An exciting time in business is when you find like-minded individuals that share your vision. No man is an island and at some point during the building process...

An exciting time in business is when you find like-minded individuals that share your vision. No man is an island and at some point during the building process you have to collectively share ideas, insights, opportunities, failures and successes.

I recently read a research study that indicated, “Collaboration is a key driver of overall performance of companies around the world. Its impact is twice as significant as a company’s aggressiveness in pursuing new market opportunities (strategic orientation) and five times as significant as the external market environment (market turbulence).”

In summation, your impact is based on your collective force. I am sure you have also heard that it’s important to build a board of directors in your formative years in business. Why? Ideally, so you can strategically place yourself in the position to avoid the mistakes your mentors made and to help you gain strengths in areas where you lack expertise and experience.

The study also noted that, “As a general rule, global companies that collaborate better, perform better. Those that collaborate less, do not perform as well. It’s just that simple.” Therefore, as a business owner one skill that we must develop early on is to learn how to work better with people.

Early on, I asked the question, “So, how do I get there?” Here are several key steps in moving your business endeavors forward when collaboration becomes inevitable:

Make it Plain

Take your vision and make it plain. It must take a hold of your life. Your vision shouldn’t diminish over time but it will produce longevity and multiplicity. Here’s a hint – don’t let others steal your dream. The first key area of collaboration starts with you. Walk in it daily.

Solidify your Vision

The vision you have for your business must be crystal clear. Write it down. I keep a notepad with me at all times because I never know when I will have a spark of inspiration or develop a new idea. It forms a mental record and shows I am serious about my goals. Most importantly it aids in accountability.

It will take an intangible idea and breathe life into something that has great potential. Writing a nebulous thought down turns it from intangible into concrete. That’s why so many people who spout the “create your goals/mission statement/purpose” make you write them down. When you write things down, they become more real to your brains, and you can then take appropriate action.

Pursue it Diligently

Run after your vision and invite others along that want to see you succeed. This is where the collaborative force becomes powerful. When people see that you have an organized, structured, and solidified plan of action – you give them something to believe in. Lastly, remove all opposition and don’t let people slow you down. Don’t let people determine your destiny.

As you’ll probably notice, the first two steps deal with developing your mental aptitude. As an entrepreneur you become the champion of your brand first and others will ultimately follow.

Source: Research Study

 

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