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Partnerships can be one of the most beneficial things to happen to a business. The collaboration of two professionals utilizing their combined knowledge, experience and expertise to grow a company can lead to amazing innovations and initiatives, and could be the first step towards becoming a worldwide industry leader.
The Intuit Small Business Blog recently posted an interview with John Spencer Ellis, “a best-selling author, speaker, filmmaker, and coach”, and “CEO of the National Exercise & Sports Trainers Association, Spencer Institute for Life Coaching, International Triathlon Coaching Association, Mixed Martial Arts Conditioning Association, and Get America Fit Foundation.”
Quite a resume, huh? He’s recently expanded it: with the help of Entrevo managing director Topher Morrison, Mr. Ellis published a book entitled Collaboration Economy: Eliminate Competition by Creating Partnership Opportunities. Intuit asked him about “what he and [Mr.] Morrison believe makes a successful small business.”
From the article:
Do small-business owners have anything to lose by not collaborating?
As the collaboration age comes into full swing (over the next two to five years), businesses will no longer be able to compete or even survive if they aren’t collaborating with other businesses. So a small-business owner has everything to lose because technology and trade is moving so swiftly now, no one business can possibly keep up with the changing times. But by having connections beyond your target market, you can distribute the challenge of progress evenly among other companies to help bear that burden.
Partnership may seem like a scary or risky proposition to some business owners, but as Mr. Ellis says, the benefits are clear: your chances of not only success, but possibly survival, increase if you explore the possibility of working with other companies.
The article also talks about Mr. Ellis’s belief that big business is threatened by small business, what prevents small businesses from partnering, and advice for small business owners who want to start partnering. Whether or not you’ve considered the concept before, we’d recommend giving this interview a read to learn about the potential benefits of partnering with other businesses.
What do you think? Did you find this article useful? Have you considered partnerships for your business? Your thoughts are always welcome, so let us know!