How Collaborating Could Increase Your Profitability

 

 

 

 

 

 

 

 

 

 

 

I started my company four years ago without capital.

I didn’t have clients lined up; the marketplace didn’t know my name, so I basically had to build my company from scratch.

The secret to my company earning revenue in its early stages was collaboration. Collaboration is termed as a joint effort by a team of professionals with the intent of providing a service or creating a product, making it ready for consumption.

If you are trying to get your foot in the door per say, this maybe a route you might want to consider, as it is an excellent way to prove your professionalism and guarantee consideration for the next opportunity.

Here’s how collaborating could increase your profitability:

 

  1. Maximises your potential to earn

I would say the more collaborations; the better, along with managing your customer base of course. I would term this as diversifying your portfolio. Collaborating should not be viewed with the perspective that someone is looking stealing your spotlight. Some tasks require a qualified team to get the job done. Think of it this way, you play a major part in making the team whole. You may not receive the amount of money you would charge normally for a job, but it is still income, providing what you are receiving is fair. It is a great way to maintain the cash flow of your business.

  1. Allows you to focus on what you are good at

I launched a colouring book earlier in the year with the focus of teaching children how to manage their money. I had the idea of what the mascot would be named and the story line, but I didn’t have the illustrations, so I reached out to an illustrator. I soon realised I would be hosting an event, that’s where my project manager came into play. And let’s not forget the process of formatting the book for printing; the graphic designer was just perfect for that task. I am pleased to say we were able to meet our target according to our project plan and the launch was successful. By being mindful of my strengths and also my weaknesses, I avoided wasting time and money.

 

Collaborating not only works out for your benefit, but also for the benefit of others on your team. I can confidently recommend their services, guaranteeing them chances to earn more income for their businesses.

 

Melinda Belle is the Founder and Managing Director of Astrape Finance, the caring, knowledgeable, trustworthy, financial company guiding you to financial stability and prosperity through education, sound planning and advice. melinda@astrapefinance.com

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