There is a story of a lecturer who leveraged on his association with other lecturers in his university and those in other states to sell thousands of his books. Though he was not the one teaching the course, he still made huge sales from it. This is one of the benefits of collaboration; easy marketing, quick turnover.

One of the biggest challenges faced by most entrepreneurs and professionals is how to reach their target market and clients.

Collaboration is one way to effectively resolve this barrier. It is a practice where individuals work together towards a common purpose to achieve business benefit.

Although collaboration has become a word commonly used by professionals, that doesn’t mean it is an empty cliché. It has become one the easiest way to effectively carry out a task and achieve success.

Here are some benefits of collaboration:

  • Fresh Inspiration

Sometimes, when you hit a wall while making a business decision, reaching out could proffer a different perspective.

  • Easy Access to Clients

Just like the lecturer, you have quick access and wider reach.

  • Cost Reduction

When collaborating, individuals involved share resources thereby reducing cost.

  • Increased Communication

This practice fosters a deeper communication and strengthens your network.

One thing to note is that, in most cases, collaboration is a two way street. So before you meet someone or an organisation to collaborate with you, answer this question: What is in it for the other party?