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The Collaborative Advantage
The Collaborative Advantage
“The whole is greater than the sum of its parts”, Aristotle once said. I believe this to be true when it comes to collaboration. Collaboration is the joint effort of multiple parties working together and contributing their expertise, perspectives and skills for the mutual benefit of achieving common goals. Collaborative partnerships give a competitive edge and significant advantage to any shared objective, project, or mission as they unite people through their diverse experiences, and leverage their capabilities to generate a stronger impact.
The whole is greater than the sum of its parts.- Aristotle**
As someone who has spent decades building and developing collaborative teams within my own businesses, I have also been able to support leaders and entrepreneurs in understanding some of the data and key factors that have led to the success of these collaborative partnerships.
Identifying the Right Partnerships
Vital to beginning this process is first identifying the right partners that share a mutual respect for each other as well as an understanding of the strategic objective. Equally as important is gauging their commitment to have a stake in both the process and the outcome of the collaboration. Once you have the right partners in place, it is then important to make sure you are all aligned on the value that will come from the union of this unique partnership.
Here are 3 steps to consider in determining the value of a collaborative partnership:
What is the purpose of the partnership? You want to ask yourself when aligning a partnership as to what will be the purpose of the partnership. The key to defining this purpose is to question yourself on how it will contribute to a better, more complete experience for the people you want to serve. This could relate to aspects of availability, convenience, time, expertise, performance, etc.
What is the desired value you seek from this partnership? What value have you identified you desire from forming this partnership? How will it improve the outcome and add greater results? An effective partnership compliments or enhances the overall value of what you are looking to create. Only if this is identified do you have the basis for creating this relationship.
What is the value offered in forming this partnership and does the desired and offered value align? It is essential that both parties find a way to integrate the value that they are bringing to the table. What does this potential partner value in forming this partnership with you and what will be the combined value of you aligning with each other? Clarifying the alignment of the desired value and offered value is key to this collaboration.
Collaboration is the Driver of Innovation
Discovering these answers enables potential partners to see the value flow between them and is a basis for understanding whether you have created the right partnership. Collaboration is the driver of innovation and growth and gives companies a competitive advantage to expand their reach with their brand’s products and services leading to enhanced results and providing greater value.
Check out these statistics for additional data-based support to focus on collaboration:
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