Everyone knows that collaboration as startups to create mutually winning situations are one of the fastest ways to grow your business. It helps to provide new insights and opportunities for growth and innovation.
However, badly planned and executed collaborations can bring about even the worst in each companies and even leave both companies worse off than when they started.
Here are 7 simple tips that you can infuse to create a successful collaboration
1. Find people who are enthusiastic about the collaboration
– While these people might not be the higher ups. However, one of the major keys to a successful collaboration are in finding the people who are enthusiastic about the collaboration.
– Interacting with these people from the other company will help to build stronger relationships with each other. Perks also include: That they know all the key players, Super positive vibes and being a great friend.
2. Mutually Winning situations
– Going into collaborations, both companies should be asking themselves how they can both benefit the collaboration and not simply what’s in it for themselves. For example, being able to pool their resources together and help each other out or to introduce potential clients to each other.
3. Having Independence
– Although it is a collaboration, both companies still need to be able to make decisions for themselves and do not treat the other party as if it’s your own. Being aware of your own company values and visions also allow you to stay true to your core values of the company.
4. Clear communication is key
– It’s crucial to have easy communication. It helps both parties communicate their needs and wants out of the collaboration, both parties should also not hold back communication between one another. This will disrupt the flow of information and ultimately harm both companies.
– Make sure that both parties communicate what they want to achieve and their goals for the collaboration before they get into it. For example, if two companies collaborate together to grow an orange tree, they must be specific in what they want, which could be the seeds to plant in the future or the orange to be able to make orange juice.
5. Flexible and patient
– One of the advantages of collaborating as a startup is that they are efficient and flexible when it comes to decision making and growth. Have everyone to be and create the healthy culture within the organization, rather than having them all fit into a rigid and fixed organisational culture.
6. Accepting failure
– As a startup, it’s important to realise the importance of failure and how it will bring you more successful collaborations in the future. While it’s good to strive for a healthy partnership, It’s also expected that some collaborations will eventually fallout. But it doesn’t mean that you can’t benefit from it, if you learn to learn from failure.
– Knowing where the collaboration had fell short, you’ll be able to build more successful future collaborations. Just remember that failures play a vital part in a successful partnership.
7. Getting Ready
– More often than not, the preparation that comes before the collaboration is just as important than the collaboration itself. Both parties should already have created a commercially viable solution before they get into the partnership. Moreover, they should make sure that their values are aligned