The Key Components of Collaboration
While we’ve been looking to fill 13 positions within our company, Pavlo has also been dealing with several international and local partners who are looking for Aurik to collaborate with them in developing opportunities together. Finding this type of partnership in business is important, but it can also be tricky. On this week’sThe Money Show with Bruce Whitfield, Pavlo Phitidis outlined the key components of collaboration:
Who to collaborate with
Finding the right type of partnership in business isn’t so easy. While it may be flattering to be approached as a business owner, it’s important to understand three critical parts of your potential collaborator’s operations. Once you fully understand your potential collaborator, you’ll need to understand which of the 3 models they fall into:
- They are trying to do what you do – How can you collaborate with a competitor? Will entering into a partnership in business be mutually beneficial for both of you? What are the legal and operational ramifications of doing so?
- Want to do what you do – Is your business able to pass on its skills, time, resources, to build another business, or are you looking to expand your business?
- Don’t do what you do – Do they work in your sector, but approach it from a different angle or product line?
Models of Collaboration
The way you enter into a partnership in business must be considered. There are 3 models of collaboration. They can be roughly defined as:
- It’s all about me
- I’m mostly in it for me
- What’s in it for us?
Aurik helps you build your business into an asset of value. Get in touch and let’s find out how a new partnership in business could help you grow.