Beyond Referrals: How to Collaborate for Business Success

Martha Author

7 unique ways to collaborate with other small business owners beyond simple referrals.

Photo by Jason Goodman on Unsplash

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As a small business owner, you’ve probably felt the sting of competition a time or two.

Trust me. I get it.

I had a dear friend copy my entire Facebook business page layout, including mimicking my services under her business. I had a former student start a business that mirrored mine with much lower prices. I had my nemesis start a business in our shared community, marketing herself as doing the same things I do in my business.

Were those situations frustrating?

Initially–yes. For many years now, I’ve been working alongside some amazing people who promote collaboration over competition. We share and promote each other. We build each other up. We acknowledge and own our similarities and identify our differences, recognizing that our ideal clients are coming to us for a reason, but they should be going to someone else if we’re not the right fit.

Many business owners struggle with the idea of working alongside others who may be perceived as competition.

But embracing a collaborative mindset can make your business better. It can help you:

• Expand your network. Collaboration introduces you to new potential clients though other business owners networks, growing your reach.

• Share resources. By combining resources, you can reduce costs and increase efficiency, which in turn can allow you to take on bigger projects.

• Boost innovation. Working with others can help spark new ideas that you might not have considered, leading to new services and offerings.

• Increase credibility. Working with other respected business owners can improve your reputation in the industry and open doors to new opportunities.

• Challenge your personal growth. It challenges you to step out of your comfort zone, learn new skills and see your business in a new light.

Whether you're a solopreneur working from your home office or a small business owner cautiously considering collaboration, teaming up with your so-called "competition" might be the smartest business move you'll make this year.

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The myth of competition

Often, competition is something we create. We feel a sense of jealousy over what someone else has or does, so we create an invisible shield of competition that exists in our minds. It may not be real, but we’re still competing.

But sometimes, it’s really real.

I’ve created detailed proposals for businesses who took the work I did and sought other quotes with my exact proposal specifications and then hired them. That’s the sting of true competition. When a business can use someone else’s work to get a job, they are directly competing against your business.

It’s ugly, but it happens.

Business owners will always be faced with competition. But if we worry about others, we stop focusing on doing what we do best. If you're constantly peeking over your shoulder at the competition, you're going to trip over your own potential.

Remember, you're not for everyone, and that's okay. Embrace the competition – they're taking the clients who just aren't the right fit for you, whether that's right now or ever.

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Beyond referrals: Smart collaboration strategies

Most often when we think about collaborating with other businesses, we think about referrals. My friend, Josh Taylor at Taylored PCs in my hometown of Kokomo, Indiana refers clients to me all the time. Last year, his referrals alone made up over 50% of my client projects.

While referrals are a great start, they're just the beginning of collaborative possibilities. Here are some other fun ideas to work with others:

1. Joint events. Partner with other businesses who would compliment your offerings. You can host workshops, webinars, or networking events. This joint event strategy allows you to pool resources, reach a wider audience, and showcase your expertise alongside others in your industry.

2. Content creation. Collaborate on blogs, podcasts, video series, or Instagram Live events. This collaboration not only provides value to your audience but also exposes you to each other’s followers, potentially increasing your reach and impact.

3. Cross-promotion. Share each other’s content on social media, feature guest posts on your blog, or include mentions in your email newsletters. This strategy helps both parties expand their reach with minimal effort.

4. Product bundles. If you offer products or services that complement each other, consider creating a joint package or bundle. This opportunity can provide added value to customers and potentially increase sales for both businesses.

5. Co-branding. Develop a co-branded product or service that leverages the strengths of both businesses. This option can lead to new offerings that each company wouldn’t be able to create alone.

6. Skill sharing. Organize times where you can learn from each other’s expertise. This skill-sharing fosters a culture of continuous learning and improvement within your business community.

7. Community projects. Come together and support a local cause or community project. This collaboration not only benefits your community but also can showcase your businesses values and commitment to your community.

The bottom line: Teamwork makes the dream work

Collaboration isn't just a buzzword to throw around at networking events (while secretly hoping no one asks you to actually collaborate).

Remember, your unique strengths and approach mean you're not for everyone, and that's perfectly fine. Focus on what you do best, celebrate the successes of others in your field, and be open to the ways you can collaborate to create something greater.

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When we stop seeing every other business as a threat and start seeing potential partners, that’s when the growth happens.

One of my most recent collaborations was done with my client-friend, Sarah Madras. Sarah is a seasoned Licensed Mental Health Therapist turned Mindset Transformation Expert and Certified Dare To Lead™ Facilitator with nearly two decades of being the keeper of people's secrets and most vulnerable desires. Seriously, she’s brilliant and kind and one of the rockstar women who taught me the value of collaboration early in my career.

We are combining forces by sharing each other’s email audiences. When you sign up, you have the chance to win a website audit from Martha Warner, LLC and a one-hour mindset transformation call with Sarah.

You have until September 1 to enter, and the winner will be announced September 3! It’s completely free to enter.

As a bonus, when you enter to win, you’ll be added to both of our mailing lists, where you’ll get exclusive news, tips, and offers.

Interested in collaborating with the Martha Warner, LLC team? Let’s chat!

Categories: : Business