Businesses can’t exist with some sort of network. This network can exist internally or externally. The most valuable connects are those made between the company and external parties. Growth of a network can only mean growth for a business.
A symbiotic network is a system that allows all parties to benefit. This is why customers who refer a store are highly valuable. One way to grow your company’s network is to work with entities and individuals. This is why companies (and individuals) put effort into collaborations. It takes energy and resources from all parties, while they all receive some benefit.
As this is a simple concept, it can be misconstrued as a parasitic relationship – no one party should claim all benefits. No entity should be regarded as a mere resource. When looking for an allies in your ecosystem, there are a few things to keep in mind:
1. What are their strengths?
Their strengths should cover your weaknesses. This will make your partnership strong and practically fail-proof. All it takes is a thorough look at their track record and then you’ll be able to decide for yourself. Why would you collaborate with someone with the same limitations you present?
2. What are their weaknesses?
Now, look at the collaboration from their point of view. What do you bring to the table that they can’t? How can you help them? Again, look at their track record and see what they need the most help with. It is important to know that collaborations (like everything else) aren’t perfect, but you should try to find the most suitable allies.
3. What are their values?
If you are on a completely different page from them, then a collaboration might not make any sense. You have to have some common ground. When you re both fundamentally different with your core principles, you won’t be able to see eye to eye. Eventually, you will butt heads and the relationship can become sour.
4. How will this grow?
You must have some semblance of what you want to achieve with this collaboration. Otherwise, you’re just doing “stuff” with another person. You should plant seeds that will allow this relationship to grow and lead to new opportunities.
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