Business Strategy

It Takes a Village: Why Your Business Success Relies on Collaboration

To create change — the kind that makes a real difference in the world — you need to influence many more people than you can reach on your own. As the founder of many heart-centered businesses, I’ve experienced this challenge myself.

New transformational businesses are launched every day. And almost all these entrepreneurs work with their clients directly. Which means their message is limited to how much work and how many people one person can reach.

If you’re really serious about changing the world for the better, you need an environment to collaborate with other transformational business leaders to spread your message beyond the person standing in front of you. You have to lean into collaboration to survive.

There are challenges ahead

The transformation industry is undeniably facing some challenges. Technology has given more people than ever the opportunity to share their light. But it also means established Transformation Leaders are facing a crowded marketplace. Throw in the rising cost of doing business and the result is crazy competition and diminishing profits.

I’m also seeing big business following the path of the transformation industry pioneers. And they do have the resources to move in and take over!

As a result, most entrepreneurs in the transformation industry are struggling to stay afloat.

The solution is efficiency

More efficient businesses always win in a highly competitive marketplace. And the most effective way to become more efficient is to collaborate with other business owners. The key to weathering this industry disruption is to transcend the current thinking, set aside competition and work together.

Here are four steps you can take today to become more efficient and build a transformation business capable of surviving this market disruption.

Level 1: The Mastermind

When you think Mastermind, you’re probably picturing the traditional model of a group of individuals in the same industry getting together to discuss best practices. Not anymore.

Collaborating and sharing knowledge are two of the best ways to learn how to improve your business. But … diversity is key.

When everyone in the group is trying to go from the same point A to point B, blind spots and in-the-box thinking are inevitable. The best mastermind groups have experts with a diverse set of skills, backgrounds, experience and industry.

Level 2: Co-promotion

Using your own influence to promote your business is great. But what if you joined forces with another business with their own following and voice? What if you combined sales and marketing forces to support each other’s latest product, program or service?

This concept has been around for a while, but some Transformation Leaders are still afraid to share with “the competition.” Co-promotion is the only way to get the kind of exponential reach and impact you need to be successful in the current market.

Level 3: Shared resources

There is power in efficiency. When businesses reduce their costs by sharing resources, they accelerate their income, impact and inspiration. It’s that simple.

We see this in action every day from start-ups like WeWork, Postmates and Amazon. Freelancers don’t need to rent office space by the month, restaurants don’t need to hire their own team of delivery drivers and online sellers don’t need individual warehouses.

Transformation Leaders have an even more audacious goal: changing the world. That means maximizing funds and opening up as much time as possible to the mission. Apply the shared resource concept, which has worked so well in other markets, to save time and money.

Level 4: Co-creation 

Co-creation is the coming together of solopreneurs with common missions to create new, stronger entities.

On your own, you’re limited to affecting those you can reach. When you build an asset with another business owner your impact immediately increases. What you create is bigger than both of you. You start controlling the conversation, not just in your community, but the world.

When people work together, great things happen. In most cases, they can achieve more as a group then they can on their own.

About the Author

TONY PENNELLS

Dr. Tony Pennells – co-founder of online financial literacy and education platform, MindShift.money – is driving a movement to change the way people think about and manage their money across the world.

Through his two cornerstone programs and team of certified coaches, people are learning how to cure their money stress, get out of debt and get on the road to financial security.

By the use of proven tools and systems, Dr. Tony’s programs demystify “financial freedom” with common sense solutions to help people create true wealth (the type that makes money that you don’t have to work for!).

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