Don’t be afraid to work with others.

Don’t be afraid to work with others.

In business, collaboration is a wonderful thing. However, as small business owners and entrepreneurs, I find that we don’t do it enough. The majority of big companies do this very well. Large corporations increase their exposure to a dedicated group of potential customers and create opportunities for future profits as a result of clever collaborations.

In 2012, Chase Bank and Living Social worked together to give grants to as many as 12 businesses. Consider the genius of this intelligent partnership. Each of these businesses has a core group of customers or fans.

Through online banking, statement inserts, in-branch marketing, and other channels, Chase is promoting this amazing opportunity to its devoted business clients. Living Social is letting its many fans know about this amazing opportunity through its extensive social media outreach. Prior to this collaborative effort, some of these customers and fans may have overlapped, but now each company’s followers are aware of the other.

Additionally, that new prospect is much more likable than a conventional lead due to the fact that information about the other company was obtained through an amazing offer. Brilliant!!! We are too afraid to work together or form strategic alliances for so many of us. I’ve discovered a few major reasons for the reluctance. To begin, you might be reluctant to approach a potential partner. After that, you might have the impression that you are losing your ability to have the “final say” over business-related issues. Last but not least, you are reluctant to “share in the profits.” Let’s address each one separately. Fear is the first thing.

In previous writings, I discussed how fear can keep you in your comfort zone. This is also the case. Yes, approaching a business that is larger, more established, or more mature than yours is scary. However, as the saying goes, “Do it anyway and feel the fear!” What are you risking? They might say no. They might not answer your calls.