How and Why You Should Collaborate With Other Entrepreneurs

Posted on December 7th, 2017
team back in office

They say teamwork makes the dream work. This is so accurate when it comes to entrepreneurship. Running your own business can be isolating, especially when you have an online business.

You also have to put in a ton of work upfront before you start to see results and gain traction. If you’re trying to get more customers, clients, subscribers, etc., it’s best to view others in your niche as potential partners and not competition so you can help each other succeed.

When you look at big prominent businesses, you’ll realize that there are partnerships everywhere because community can often trump competition. Plus, it can be nice to split up some of the work and earn an even larger share of profit.

Here are 3 of the best ways to team up with other entrepreneurs.

Joint Webinar or Masterclass

Hosting a webinar or masterclass is a great way to showcase your expertise while helping your audience become active participants so they can achieve fast results.

However, these online events can be a ton of work which is why it would be a good idea to partner with someone else in your niche who may be able to offer a different set of expertise. This can help increase the value of your masterclass or webinar and you can also share the production expenses as well.

Online Course or Training

Consider collaborating with another entrepreneur on a digital course or online training as well. Just like with a webinar or masterclass, you can offer up your expertise and double the value. As a result, you can work together to create a course that you can sell at a higher price point as well.

I have a friend who worked really well helping other businesses manage their Pinterest accounts. She teamed up with a friend who was a really skilled virtual assistant and they created a course that teaches people how to become a Pinterest VA. The course has done really well this past year since they’ve both been able to promote it to their audiences and continue to add new material.

Referral/Affiliate Program

Another way you can collaborate with other entrepreneurs is to support each other by setting up a referral system. For example, if you’re a freelance writer and know a really good web designer, you can refer that person to your clients who need help redoing their websites and that person can refer you to their clients who need ongoing content.

You can even offer incentives for recommending your products and services to other through an affiliate program. That way others can earn a commission just by referring your business to others so it’s a mutual win.

Summary

Don’t underestimate the importance of partnerships when you run a business and realize you don’t always have to do everything by yourself.

When you build relationships and team up with other people in your niche, you can get more accomplished, reach a wider audience, and increase your profits.

Think of some ways you collaborate with other business owners in your field or local area then commit to reaching out to them with an idea in the coming months.

Choncé Maddox

Choncé Maddox

Choncé Maddox is a debt expert. She helps ambitious millennials and Generation Z get our of the mounds of debt they are in following college. In 2015 she realized she couldn’t afford to do her own laundry, she was so broke. She had to make a change. Over the next three years she personally tackled $50,000 in debt and became debt free. She teaches others her passion since.

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