Collaboration is a common practice that runs through successful companies who encourage teamwork, building connections and mutual problem-solving.

It was not only a week of summits and symposiums, but it was also a week for awards and recognition.  In watching closely who won the top awards across the board, we saw a common thread in the winners – collaboration.

One of the award winners spoke directly to the critical importance of collaboration.  She is also known for bringing together diverse and often-opposing opinions together to find common solutions.  In another instance, the award winner complimented his business partners during the award speech.  In another, a member of his rotary thought so much of the company owner that she went out of her way to make sure he was recognized again. It seems clear that collaboration is key to success.

Who can we collaborate with as a business owner or executive?

  • Executive team:  Certainly, it is a good idea to start with your executive team.  A top notch team will make “2+2=16”.
  • Peer groups:  My ProVisors group (of trusted advisors) contains an experienced and successful peer group leader (Ron Penland).  His companies grow faster than average, are more profitable than the norm – and SELL at much higher multiples than the industry average.  It certainly makes sense not to argue with success.
  • Trusted advisors: Those with exceptional advisors will perform better than the rest – hands down.
  • Industry groups: There is a wealth of information and contacts available in the best industry groups.  Find those appropriate to you.
  • Alumni:  The point of going to a top-rated college is less about the education than it is about the connections.  Have you stayed in touch with your alumni groups?  There is an instant connection built in.
  • Community:  Some of the best-connected people are community leaders and advocates.  Last night, I went to the Claremont rotary’s Taste of Claremont.  It was the epitome of top leaders and community advocates getting together for GREAT food and drinks.  I tell you what – when my house burned down several years ago, I was quite happy when the community fast-tracked inspections and was supportive in general – invaluable!

As I often say in my speeches, collaborate to THRIVE!