Tag: Collaboration

Collaboration

Collaboration for revenue generation

Generating revenue in this unhappy economy is a major issue for most business owners. Until the velocity of the economy picks up again, finding the right partners might enable you to do something, and sell something, to get through this tough time.

If you can collaborate with someone who has earned your trust, you can get access to some good revenues until the economy sorts itself out again.

Listen to the podcast of Pavlo Phitidis discussion about collaborations on 702 & CapeTalk:

Crisis does push people to change their behaviour, and that ability to change brings a willingness to see, listen, hear and engage with new offerings.

How do you find a collaborator?

These collaborations are relationships you’d be looking to establish outside of your everyday operating business. So it starts with understanding your own business. You have to know what you do, and what you do not do.

When Pavlo is approached to collaborate, and he sees a lot of crossover between what they do, and what he does – that’s not a collaboration. That is sharing your clients with your competitors! When you understand what you do an don’t do, then look at what your collaborator does and does not do. They need to have complementary skills and offerings, not competitive offerings.

A good collaborator serves the same customer in different fields or areas. In this environment, where people are very apprehensive about spending money, the client gets increased value, at a lower cost than if they were seeking both of your services independently.

How do you take the new offering to market?

Pavlo advises each party approaches a customer of theirs so that there is equal exposure to risk, and ask them whether they would see value in the collaborative solution. At the end of the day, the customer is the 3rd party in the collaboration. That’s the starting point.

Is it a match?

You need to believe in the value of your collaborator, if you are going to trust your customer with them.  And there needs to be an alignment of values, to ensure the relationship remains regardless of how the collaboration may change in response to customers’ needs. You don’t know what you don’t know when you go into the collaboration.

Once you have success in a collaboration, then additional pressures may strain the relationship – who’s going to market it, who’s going to run the administration etc. You need to think of the whole package.

Pavlo’s recommendation is to visit customers together, and then build the solution together to fit the customer. Then proceed slowly. Let things settle before putting your foot on the accelerator, because truth is only found in action.

 

 

 

Collaboration

Collaborators will be the kings of the Corona Economy

Whatever you did to achieve success pre-Corona is not going to be the same as the things you need to do to achieve success in a Corona world.

Our whole way of interacting with the physical world, and with each other, has changed and will stay that way for a long time yet. Our priorities as human beings and consumers have altered drastically. Things that used to feel like necessities – the cappuccino on the way into the office; the cars we spent hours in, the gym session to clear our heads – none of these is essential in a world of social distancing.

As a business, if you’re waiting for things to go back to ‘normal’ you’re waiting to close your doors. You must reset your business for the new reality, which means understand the new problems that your pre-corona customers will now face, and rebuilding your business to service them.

We have developed three strategies to get this right. Red, during lockdown, is all about resetting your business. Amber, the 3 to 6 months post-lockdown, is what you need to do to turn your insights gained during the red phase, into a rebuilt business during this phase. Finally, green, once you have seen and understood what works, is the time to accelerate and reignite growth.

Remaining positive is crucial. The right mindset, irrespective of your current circumstances, will yield positive outcomes if you act against these 3 strategies. At a recent Aurik client roundtable with 15 business owners in industries as varied as restaurants and rubber manufacturing, we came up with ideas that saw collaborations between these unlikely partners, that fit each of these categories.

In the Red zone, business owners in computing, airfreight and distribution identified that there are not enough laptops in South Africa to meet the demand caused by remote working. So the three of them are exploring the possibility of chartering a plane to bring in these new essential resources.

In the Amber zone, an auto dealer, rubber manufacturer, virtual reality services and computing hardware provider are looking into digitising an outbound sales force.

In the Green zone, a coatings specialist, exhibitions company and a restaurateur are coming together to design a series of physical distancing solutions for retail and industry.

Collaborations are going to be key going forward, to ensure that we can act as quickly as possible to solve the new problems that the corona economy presents.

We’ve hosted a series of webinars that go into depth on many of the points touched on here, visit www.aurik.com/corona or reach out to our team who can support you on your recovery and growth strategy – www.aurik.com/contact

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