Collaboration is one of my favorite growth strategies.
The combination of networking and collaboration has had the biggest impact on my business out of everything I’ve done. (And, I’ve tried quite a few things since I started my entrepreneurial journey in 2005.)
But, collaboration only works when you build it from a strategic standpoint.
Too often, I see entrepreneurs dive into collaboration because it’s fun and it feels good. And, while both are true, you won’t see that return on investment (ROI) you’re looking for unless you build the partnership strategically.
Today, I’m going to walk you through building that collaboration strategy so you’re set up for success every single time!
There are so many options out there…
How do you know what your right-fit collaboration strategy is? I’ve got you!
We’re not about wasting time over at District Bliss. As with many business-building strategies, working backward from your goals will allow you to get crystal clear on the right fit for you so you can save time, energy, and money.
Your goals may include…
- Increased income: All of your collaborative endeavors should include creating more revenue.
- Lead generation: Capture qualified leads through event registrations and follow-up.
- Lead nurturing: Nurture leads by exposing them to complementary offerings and building trust through multiple touchpoints.
- Brand awareness: Increase brand visibility and reach a wider audience.
- Brand awareness uplift: Enhance brand recognition and recall by being seen in multiple contexts.
- Client acquisition: Convert attendees into paying clients through targeted offerings.
- Community building: Foster relationships with potential collaborators and partners.
- Network expansion: Connect with potential collaborators and partners in the audience.
- Reach expansion: Access new audiences and markets through the combined reach of partners.
- Resource sharing: Leverage partner expertise, resources, and tools to enhance offerings.
- Cost-efficiency: Pool resources and reduce individual costs associated with the project or running your business.
- Innovation: Combine diverse perspectives and experiences to create unique and compelling offerings.
- Audience growth: Expand your audience by leveraging each other’s existing subscriber base and social media followers.
- Increased engagement: Offer valuable content and promotions to a wider audience, boosting engagement metrics.
- Thought leadership: Establish yourself as an expert in your niche by sharing valuable insights.
- Website traffic: Drive traffic to your website through backlinks and audience redirection. This also increases your SEO (search engine optimization) rankings.
I recommend choosing three goals—and one of those goals should always be increased income.
Once you’ve identified your goals, they will determine your collaboration strategy.
I have a Collaboration Goals Worksheet that will walk you through the process of identifying which goals pair with which collaboration strategy. Grab it!
With your goals and strategy in mind, move on to identifying your perfect-fit collaborators.
Not all partners are created equal. Remember…
- Everyone should feel like they see an ROI from the partnership.
- Collaboration should feel good for everyone involved.
- Your collaboration strategy must be built with monetization as one of your goals.
So, what makes a perfect-fit partner?
- They hold up their end of the agreement.
- They have approximately the same size, or larger, audience. And their audience is engaged.
- Their ideal client overlaps with yours, but they are not your direct competitor (which creates confusion for potential clients).
- They are personally invested in your collaboration.
- Their business type (and values) complement your business.
- Your values are aligned (and, I know Ashlee has you covered there!).
The best way to connect with potential collaborators is networking. But that’s not the only way to find partners!
- Social Media: Interacting with people on social media is a great way to stay in touch, be up-to-date on what the other person is doing, and interact between formal networking opportunities. The only drawback is that you may get stuck in the DM “requests” folder. I recommend commenting on posts so your name becomes familiar to the person you’re reaching out to.
- Referrals and Introductions: Referrals and introductions are an efficient way to break through the noise in someone’s inbox. Don’t be afraid to ask your friends to connect you with your future collaborators!
- Networking Events and Communities: Nothing can replace person-to-person connection. Committing to a community and showing up regularly for networking events allows you to build meaningful connections that continue to build ROI over time.
At District Bliss, we host Networking Socials that are approachable, fun, and have a high ROI. And, because you’re hanging out with me today, I’m giving you a FREE ticket to one of our upcoming events. Use code LETSCONNECT23 for a free ticket!
(Bonus: grab my Effective Networking Cheatsheet for even higher ROI.)
I can’t wait to hear about your collaborations! You’ve got this!
About the Author, Sara Alepin
Imagine stepping into a vibrant tapestry of ambition and camaraderie. That’s the world Sara Alepin crafts every day through District Bliss. Forget shallow handshakes and vanishing business cards; here, connections blossom into long-term collaborations, fueled by Sara’s uncanny ability to see the spark between souls.
District Bliss isn’t just a network—it’s a launchpad. Entrepreneurs with fire in their bellies find fertile ground to share insights, resources, and unwavering support. Whether it’s a roundtable discussion buzzing with ideas or a bespoke workshop igniting new skills, Sara orchestrates the stage for your business to flourish.
She’s not just a connector; she’s a catalyst. With a sixth sense for synergy, Sara weaves personalized introductions that spark conversations destined to change destinies.
When she’s not nurturing growth with an ever-evolving repertoire of resources and inspiring collaborations, you’ll find Sara traveling with her husband (and scuba diving!) or unwinding by the water while enjoying a nice glass of Chablis.
