Collaboration could be:
- Sharing business tools with a non-competing business; like a lawyer and accountant. Benefit being half the capital needs.
- Sharing office space and costs with a non-competing business; like a lawyer and accountant. Benefit being half the recurring cash needs.
- Sharing marketing and sales expenses with a non-competing business; like a lawyer and accountant. . Benefit being half the exposure and risk.
- Referring businesses based on their needs and your knowledge. This makes you social and “in the know” by giving you the ability to talk to a prospect (not yours yet) about their needs and someone else’s expertise/service. This goes to the point that people do business with people they like.
- Sharing clients and referring clients to collaborative partners. This being possibly the most difficult form of collaboration, but also the one with the greatest potential return.
I will expand on each of these different forms of collaboration over the next week or two as I roll out my newest/latest business venture(s) whose objectives may not be apparent by “just looking”.
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