Choose Collaboration over Competition
Linda D. Lee – Choose Collaboration over Competition
Linda D. Lee is the founder of ‘LL Media Group, LLC’. Her company has been providing high-quality products since they launched in 2010. They embrace and educate people on freedom from mental bondage and building healthy relationships.
She shares with us her wisdom and explains why collaboration is the best choice to move your business to the next level and succeed.
Linda: Collaboration is a working practice among individuals in which they work together to achieve the business benefit or the purpose to achieve a common goal. It is a collaboration that enables these individuals or entrepreneurs to work together for the achievement of some already defined or a common business goal. I experienced this first hand as the founder of a personal development consultancy company. My business flourished as a result of global collaborations in London and Africa. Global collaboration not only increased my skills and abilities but also knowledge in areas I never imagined before. I got so much while choosing collaboration over the competition. I helped many entrepreneurs launch into different capacities of their genius or sphere of influence.
Collaboration organization greatly benefits the partner organizations. Collaboration helps in great team building that proves to increase the productivity for the organization. Collaboration between organizations gets more accomplished by combining knowledge, experiences, and skills than if they worked alone. Trusting each other is important in collaborative organizations or collaborating teams. It is also communicated effectively for overcoming the challenges brought about by the benefits of collaboration. Some of the benefits of collaboration:
- More Flexibility and Reduced Cost
The sum of each separate part is not bigger than the sum of the whole. Compared to each organisation working on its own, women entrepreneurs working together collaboratively can produce greater accomplishments. With reduced costs, more flexibility in adapting to changes and increased capabilities, working together makes everyone succeed and win.
- Problem Solving and Innovation
Various perspectives for problem solving and innovation are offered by collaboration in organisations, especially team collaboration.
- Stability and information
As one of the benefits of collaboration between organisations, the transfer of knowledge is the result of collaborating between team members. There is also a strong possibility of retention since this information is being practiced.
- Improved Flexibility of the Organization
The organisation’s ability to handle sudden change improves with collaboration. To pivot when customer preferences change or disruptive technologies enter the scene, team building helps and teamwork makes it easier. So, female entrepreneurs should keep in mind that teamwork and collaboration are the foundations of the work methodologies, as these allow teams to be more flexible and responsive.
- More Productive Meetings
More efficient meetings have resulted in efficient collaboration and productivity. With proactive teamwork that enriches the corporate culture, workers need fewer meetings as their tasks are accomplished. There is more proactive information sharing, more engagement, and more support for each other’s efforts when meetings must be held.
- Accelerated Business Velocity
People get the ability to bring products to the market faster with a collaborative culture. It becomes easier to produce anything with teamwork and communication because it speeds up the entire process.
- Better Alignment with Stakeholders
It’s a good idea to especially focus on external collaboration with the customers, partners, and vendors when talking about collaboration, the stakeholders whom the project and the product directly affect. Then there will be better alignment between the customer’s actual needs and the product’s features if it leverages their feedback into the product development process.
Negative Effects of Competition
- Competition makes entrepreneurs impatient
- Competition results in making bad decisions
- Competition might result in over-thinking
- Makes focus on competitor – not the customer
Take steps and achieve your business objectives by taking advantages of collaboration and avoiding the negative effects of competition. Allow my successful journey to be your motivation.