Should Business Owners Do Joint Collaborations?
As my business grows, I find myself receiving more random requests for joint collaborations. While there was a time that I would have jumped on every collaboration that comes my way, I’ve now become far more discerning about it.
In fact, in the last couple of days alone I’ve received four requests for joint collaborations. I’ve also turned them all down. Why? Because there are joint collaborations that are mutually beneficial and those that are a waste of my time. While that opinion may not be popular, it goes back to the fact that I only have so many hours in a day and I’ve become ruthless with my boundaries. I’m on what Marie Forleo calls the “No” Train as I grow my business to a new level.
That being said, here are some questions to ask yourself the next time you’re considering partaking in joint collaborations.
What stage of business are you both in?
While it may sound like I’m hating on joint collaborations, I’m not. In fact, I still do a few of them. I just simply think there is a time and a place for doing several of them. In most cases, that looks like the beginning stages of your business when you’re trying to get the word out. At this point, you likely have more time for these types of projects and you’ll likely get more benefit from it.
Now, if you’re a stage where you’re far ahead of the person asking for joint collaborations (or you’ve never heard of them), there may not be much benefit in it for you. You can (realistically) only take this on if you really have the time and resources to help this person out. Even still, if that’s the case you’d probably have to know them.
Additionally, if you’re both at the same level and you’ve known each other for some time, then joint collaborations can be a great way to continue growing.
Do you know this person?
I will be more likely to do a joint collaboration with you if I actually know you. That’s just the way it is.
If I don’t know you from Adam and you’re asking me to be on a teleseminar for free and promote it to my list, I won’t do it. First, because I have no idea about you or your work ethic. Second, because I’ve never gotten any value out of partaking in these things. In other words, it’s a waste of my time and I can make more money elsewhere.
That being said, if I do know the person, it’s a little bit of a different story. I know more about who they are as a business owner. I know more about their vision. I also know they won’t BS me.
Do you want to do it?
Sometimes I turn down joint collaborations because I just don’t want to do it. This comes from either not needing it at this stage in my business or valuing something else in which a joint collaboration would get in the way of.
In other words, if it gets in the way of priorities I have set for myself, then I won’t want to do it.
While joint collaborations have a place in business, you have to be discerning about which ones you decide to do. If it doesn’t meet specific criteria that you’ve set for yourself based on previous experience, then it may not be worth it to you as a business owner.