93 - 5 Benefits of Business Collaborations and How They Can Help you Grow your Business Faster

5 Benefits of Business Collaborations and How They Can Help you Grow your Business Faster

Ready to learn why collaboration is better than competition? Let’s break it down!

LISTEN TO THE EPISODE HERE:

If you are feeling discouraged by trying to rely on just social media to build your business, if you feel like there should be a better & faster way to get in front of your ideal clients and customers, this is for you!

Danielle breaks down 5 Benefits of Business Collaborations and How They Can Help you Grow your Business Faster - she gives us concrete examples and actionable steps, so bring a pen and paper! We are going to be talking all about getting massive exposure for your business through collaborations and partnerships!

How Collaborations Grow Your Business Faster

Often when we start our businesses we do our best to build relationships with our ideal clients directly.  This is great and an important thing to do, especially when you are doing market research, however, there are ways to grow faster than just connect one on one with your ideal client One of these ways is to collaborate with other business owners who are in aligned industries or have complementary products and services. 

A business collaboration is a mutually beneficial partnership where you co-create content, marketing material, products or services that will serve your ideal clients.

Through this partnership - BOTH parties should win! 

The Five Benefits of Business Collaborations:

  1. Networking

    You can dive deeper into this topic in Episode 91! You are able to meet more like-minded business owners and potential clients! It’s a snowball - the more you collaborate, the more relationships you build! The more relationships you build, the more chances you have to collaborate with ideal partners and get in front of ideal clients.

  2. Cross Promotion 

    There is so much value in cross-promoting with someone who is already in front of your ideal audience. It’s exponential - you can double, triple or quadruple your exposure! 

  3. Building Trust 

    This is often overlooked, but SO important! You can build trust so much faster by aligning yourself with other businesses or other people who already have built trust with their own audience. Their audience is likely more willing to trust you because you have been vetted through another brand they already trust.

  4. Sharing Skills 

    As business owners, we have specific skill sets, and we can make the most of learning from others who have developed their skills as well.

    When you are connecting, when you are collaborating with other people and you’re sharing your skills, you're sharing your resources, you're learning from one another - you might learn one thing that drastically changes the trajectory of our business! You have access to feedback that can improve your business and enable it to grow it faster. 

  5. Saving Money

    Instead of paying for advertising, collaboration allows you to share the cost or offer a value-equivalent exchange. It’s often free OR your marketing dollars are going a lot further!

You never know where those relationships, connections and collaborations will lead and how they will grow your business - take the leap!

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TRANSCRIPT

[00:00:00] Danielle: Welcome back to the podcast. I am so excited that you're here today. We are gonna be talking about the benefits of business collaborations and examples of how to use them to grow your business. So I know I mentioned this last week, but within the next few weeks, we are gonna be sharing more of this types of this type of content, all in preparation for our free, live organic growth workshop.

[00:00:23] So if you have not yet, mark your calendar for September 28th, at 12:00 PM PST and go to the link, which is businessbabescollective.com/workshop. You can click the link in our show notes, or you can go directly to that link. We are gonna be talking at all about how to get massive exposure for your business through collaborations and partnerships.

[00:00:46] So, if you are feeling discouraged, trying to rely on social media to build your business, and you feel like there should be a better and faster way to get in front of your ideal clients and customers, then this is definitely for you. I am so excited to be [00:01:00] teaching this workshop live. So I'm gonna be answering all your questions, we're gonna be diving deep into it. So pause this episode right now. Go get yourself signed up and then press play and let's get into the rest of the episode.

[00:01:13] Welcome to the business babes collective podcast. I'm your host, Danielle Wiebe. In this podcast, you'll learn tangible business tips and strategies on how to grow successfully and sustainably. We'll also interview seasoned entrepreneurs, so you can listen in on their stories and see behind the scenes of what it took to grow and scale their businesses. Let's dive in, as we discuss the wild, exciting, crazy, challenging, rollercoaster ride of entrepreneurship.

[00:01:42] Often what I see happening when people start their businesses is that they are really trying to build relationships with their ideal clients directly. And of course, this is a great and important step to do, especially if you are doing market research. And this is actually something that we teach in [00:02:00] action takers club, how to have market research calls, how to really understand and be able to attract your ideal customer. So this is an important step, absolutely.

[00:02:10] However, When we're just getting started, we don't have to think about the opportunity that can lie in us actually going to build relationships with people who are in aligned industries, that we could actually build a mutually beneficial partnership with, to collaborate with one another, to cross promote one another, to learn from one another, all of these things.

[00:02:34] And this is what I am probably the most passionate about, of all of the things that I get to talk about on this podcast and with my clients and in our action takers club and everything is that there is such a beautiful thing that happens when we really understand the value of collaborating with other people.

[00:02:55] And I think that the topic of collaboration is this really, really broad [00:03:00] topic. And so we don't often understand what it means. And that's the purpose of this series is to really talk about what are collaborations, what are examples of them? What's even the benefit of doing them? Like, why should I even look to collaborate with people anyways?

[00:03:14] So we're gonna dive into the, the five different benefits of business collaborations and why I think they're so incredibly important for your business. So, first of all, before we get into those, I wanna just be super, super clear that when I'm talking about business collaboration, this is forming a mutually beneficial partnership where you are co-creating something together and you have a very common goal.

[00:03:41] So for example, maybe you're co-creating content together, whether that be a blog post, or a podcast episode, YouTube, social media, that sort of thing, email, etc. maybe you're co-creating marketing material. Maybe you're co-creating a product or an event or a service that is going [00:04:00] to serve your ideal clients. And collaborations can also just be relationships and brainstorming together.

[00:04:07] So for example, I always consider our mastermind group to be business collaborations, because we're collaborating on ideas. Whenever you are working with another person and you're getting together, whether it be virtually or in person, and you are either brainstorming ideas or you're actually co-creating together, that would be considered collaboration.

[00:04:27] So let's now talk about the benefits, the huge benefits of why you need to be using collaborations in your business. If you want to be able to grow your exposure and grow your business faster.

[00:04:40] Number one is networking. You all know the huge importance of networking for your business. I think about just all of the different ways that our business has grown, whether it be, you know, at the very beginning, when we were hosting these events and having like in-person gatherings and all of the [00:05:00] different businesses and people that I had the opportunity to connect and, and collaborate with and how that allowed such incredible networking opportunities for me.

[00:05:09] And then I also think about now having this podcast and having more online products and services that now I have to offer you guys and how our community has grown and how much collaboration is still such a huge pillar of what I do on a daily basis is connecting and collaborating with other like-minded business owners and people who have similar audiences to mine, right?

[00:05:38] So as I've grown and as our community has grown, collaborations have looked a little bit different. However, it's still the same concept and the networking that is available, like I just think about how many people I have been able to meet because I have created this community, right?

[00:05:58] So whether it's been speakers [00:06:00] of some of our events, Who I admire, to people that I've had on the podcast, which is why, uh, if you haven't actually listened to the episode that we did last week, I highly recommend you listening to that. It was episode 91, and it was all about creating your own platform where you can actually your own platform, your own community, where you can actually be featuring other people.

[00:06:20] So no matter what industry you're in, if it's wellness, fashion, business, personal development. If you are able to create a platform where you can then feature other businesses and have that be kind of a springboard to be able to collaborate with others, you are gonna be able to have so many more collaboration and networking opportunities.

[00:06:41] So I'm not gonna go too much into that because I would love for you to go back and listen to episode 91. So you can kind of get a fuller picture of sort of what I'm talking about. So whether you are an in person business, whether you host events for a living, maybe you have a jewelry business, or you have a online business, or maybe you're [00:07:00] a coach or consultant, or perhaps you have a service based business. It doesn't matter. Networking is always gonna be important. Networking is always gonna be vital for you to be able to grow a successful and a sustainable business.

[00:07:13] And so I want you to think of not just how can you network with potential people that will become clients of yours, but how could you actually network with other people that you could potentially collaborate with and let that actually expand your network even more?

[00:07:31] all right. That leads us perfectly into number two, which is cross-promotion. So there is so much value in cross-promoting with someone who has a similar audience that you want to reach. So the reason this is so powerful is, because if you think about it this way, if you are collaborating with one other person, you are doubling your reach and your capacity. If you are working with three other people, you are tripling your reach. If you are working with [00:08:00] four other people, you are quadrupling your exposure.

[00:08:02] So just thinking about the exponential opportunities, when it comes to working with someone else, when it comes to collaborating, it's huge. So, you know, when I talk about getting massive exposure for your business, using these collaborations, this is what I'm talking about. Getting in front of your ideal clients and expanding your exposure by cross promotion.

[00:08:25] All right. Number three is building trust. This one is often, I think, overlooked, but just as important as any of the rest of the benefits of collaborating. Your job as a business owner is to build trust with your potential clients. When someone finds out about your brand, there's a period of time where they're doing their research, right?

[00:08:50] So they are potentially Googling you and, or your brand just to make sure that it makes sense for them, right? So maybe they will [00:09:00] actually type in Google and they'll type in your name or they'll type in your brand. And if obviously your website should pop up, if you have proper SEO on your website, that's another topic for another time.

[00:09:11] But another thing that is super beneficial is, if they see you popping up on other people's websites, or if they see that you have connected or collaborated or done something with another brand and whether or not they know that brand or not, if they do amazing even better, you're building that trust even more.

[00:09:32] But if they see that you've been featured places or they see that you've potentially been in, interviewed on a podcast, or they see that you've been, you, you have written a blog for someone else's blog or, um, your product has been featured in a magazine. Whatever that is, whatever that collaboration looks like, you are able to build that trust faster with your potential client.

[00:09:56] Now, the other part of this is, is that when you [00:10:00] are collaborating with another person, we talked about cross promotion. We talked about networking opportunities, all of that, you are getting exposed to that other person's network. Now automatically, if that person that you're collaborating with or that business that you've collaborated with has created really great relationships where they have built trust with their audience, you are gonna have an amazing opportunity to build trust with their audience very quickly, because if, if they are introducing you to their community, their community also automatically has a level of trust with you because they're recommending your brand, your product, your service, et cetera. So that is a huge benefit of collaboration as well is building that trust and building it quickly.

[00:10:47] all right. Number four is sharing skills and learning from one another. This is huge. Uh, as business owners, we have specific skill sets. We have backgrounds [00:11:00] and, um, we have knowledge, right? And every other person that we come into contact with there is always something we can learn from them.

[00:11:09] So when we are connecting, when we are collaborating with other people and we're sharing our skills, we're sharing our resources, we're learning from one another, that is such a huge benefit to our business. We might learn one thing that drastically changes the trajectory of our business, right? We could get feedback that could be so incredibly valuable to actually improve our business, to be able to grow it faster. Sharing skills, sharing resources, learning from one another.

[00:11:39] All right. Number five is saving money. Benefit of business collaborations. when you are cross promoting, when you are creating a product together, or you're creating a marketing campaign with another business, often you are sharing the cost, or sometimes if it's just a value for value exchange, you're [00:12:00] not having to actually spend any money for that partnership or for that collaboration.

[00:12:04] So again, it depends on the collaboration. It depends on what's involved in it, but often it's either free or your marketing dollars are actually going a lot further because you are able to co-create together with someone else. So that is the last benefit that I wanted to share with you today.

[00:12:21] Again, there's so many benefits of business collaborations, and really what I want you to get out of this is of course we just shared five right now. The benefits of collaborating are really, you never know where those relationships, those connections, those collaborations can lead you, and you never know how it's going to expand your business. And so I hope this episode opened up your eyes to some of the possibilities that are available when it comes to working with other businesses.

[00:12:52] And I hope you're excited for our next few episodes that we're really gonna be diving into this topic of collaborations and how they can [00:13:00] serve you for your business, how to figure out what type of collaborations are best for you, how to pitch them, how to ideas of how to get started, all of those things. So I cannot wait.

[00:13:11] I am so excited to share all this information with you and. Definitely go and grab a seat to our free workshop. So if you go to businessbabescollective.com/workshop, you'll get all the details there. You can sign up and I can't wait to see you there. It's on September 28th, put it in your calendar. 12:00 PM. PST. I'll see you there live.

[00:13:37] If you love this episode, make sure you screenshot, post, and tag us on Instagram @businessbabesco. Want to know when the next episode goes live? Subscribe on your podcast app, and while you're there, leave us a review. Until next time, keep dreaming big, setting goals and taking action.

Danielle Wiebe