When I started my first business, I believed that success was about doing it all on my own. I thought the key to growing a business was figuring everything out without help and that independence was the hallmark of success. Turns out, I couldn’t have been more wrong.
Why Women in Business Should Embrace Collaboration Over Competition
Successful business owners do the opposite—they collaborate, build partnerships, and work together in mutually beneficial ways that accelerate their growth. Collaboration isn’t just a feel-good concept; it’s a powerful business collaboration strategy. But, like many women business owners, I hesitated. I didn’t want to appear needy, and I was stuck in the mindset that business was all about competition.
But here’s the reality: competition leads to comparison, and comparison can stifle your progress. When you shift your focus from competing with others to collaborating, that’s when growth truly happens. Collaboration is one of the most powerful strategies we can use to grow our businesses. It’s not just about networking or doing someone a favour—it’s about forming meaningful partnerships that help you and your collaborators thrive. Whether you’re just starting out or have been in business for a while, collaboration can open doors you never even knew existed.
So, if you’re wondering how to build a smart business collaboration strategy, these 10 questions will guide you through it. Let’s dive in.
1. Who Else Has My Customer?
Your customers are probably interacting with other businesses before or after they find you. For example, if you’re a wedding photographer, your clients might also be working with florists, caterers, or venues. Collaborating with businesses who also have your customer will be a win-win partnership. Together, you can create packages or share referrals, giving your customers a more seamless experience while growing both of your businesses.
If you’re in a service-based business like web design, think about it this way—your clients may also need a business coach, a bookkeeper, or a branding expert. Partnering with those professionals helps you offer more value to your clients and expand your reach in the process.
2. What Complementary Products or Services Do My Customers Need?
What else could your customers use alongside your service? If you’re the wedding photographer, your clients might need a videographer, a makeup artist, or a calligrapher for their invites. By teaming up with these businesses, you can offer bundled services that make life easier for your clients and create a consistent flow of referrals for everyone involved.
If you’re a fitness coach, think about partnering with a nutritionist or a meal prep service. Together, you can offer your clients the full package—training, nutrition, and convenience. It’s about filling gaps and solving more of your clients’ problems, which is what makes collaborations so effective in growing your business.
3. Which Businesses Share Similar Values and Goals?
Collaboration works best when you partner with businesses that share your values. Think about who aligns with your mission—whether that’s sustainability, empowering women, or providing high-quality customer care.
For example, I love the collaboration between TOMS Shoes and Save the Children. Both organisations focus on giving back, and their values are in perfect sync. You can create those kinds of value-driven partnerships, too. Just think about what causes or missions are close to your heart, and find businesses that are on the same page.
4. Who Are the Influencers or Industry Leaders in My Niche?
I know what you’re thinking—”Why would an industry leader want to collaborate with me?” But don’t underestimate the power of what you bring to the table. Leaders and influencers often want to expand their reach just as much as you do. By collaborating, you can offer value to their audience while boosting your credibility.
Take one of our HerBusiness Network members, Fiona Keary from Style Liberation. She partnered with Birdsnest, a well-known fashion retailer, to offer exclusive shopping experiences. No matter if you’re a large or small business, you can still find opportunities with larger brands or well-known influencers in your niche.
5. What Other Businesses Face Similar Challenges?
Some of the best collaborations come from shared challenges. If you and another business are facing similar obstacles, why not team up to tackle them? Whether it’s finding new clients, improving operational efficiency, or boosting your online presence, solving problems together can be incredibly powerful.
Think of Spotify and Uber—they teamed up to enhance customer experience, allowing Uber riders to play their Spotify playlists during rides. They solved a problem for their customers and created a better user experience.
6. Who Can Help You Reach New Markets?
Collaboration is one of the best ways to expand your reach. Who already has access to the audience you want to connect with? You may be targeting a new age group or looking to expand geographically. By partnering with businesses already successful in those markets, you can tap into new opportunities.
For example, if you’re targeting a high-end, affluent market, consider which businesses already cater to that demographic. Partner with them to create offers or experiences that appeal to your new audience while expanding your reach.
7. Which Organisations Are My Customers Part Of?
Your customers might belong to associations or organisations that could open the door to collaboration. Whether it’s industry bodies or networking groups, these are often places where you can offer valuable content or services in exchange for exposure to their members.
I’ve seen this work wonders in the HerBusiness Network. So many of our members end up partnering up or collaborating with one another, because they attended the same networking event or workshop. And even more of our members have gained clients simply because of the fact they were connected by the network.
8. Who Has the Expertise or Resources That I Lack?
No one’s an expert at everything, right? Collaboration lets you fill in the gaps where you might not have expertise. Whether it’s technical skills, marketing savvy, or operations, partnering with someone who compliments your strengths is a game-changer.
Here’s another example from a partnership we had—when telecommunications company Optus wanted to reach more women business owners, they partnered with us at HerBusiness. We brought our network, and they brought their expertise, creating a collaboration that benefited everyone involved.
9. Who Offers a Product That Enhances Mine?
Think about what products or services could enhance what you already offer. If you’re a web designer, collaborating with a copywriter would allow you to offer complete website packages. Or, if you’re a coach, partnering with someone who offers accountability services could give your clients the extra push they need to reach their goals.
Innovation often comes from these types of collaborations. You’re not just offering your service—you’re offering a more comprehensive solution that sets you apart.
10. What Businesses Are My Customers Talking About?
Pay attention to the businesses your customers are already talking about. If they’re excited about another company, that’s a collaboration opportunity waiting to happen. It’s all about finding those businesses that are creating a buzz in your customer base and joining forces to offer something even better.
Why Collaboration is the Smartest Business Strategy for Women Business Owners
At the end of the day, collaboration isn’t just a business strategy—it’s about community, support, and growth. When women business owners collaborate, we create more than just business partnerships. We build networks of support that allow us to thrive.
In the HerBusiness Network, we see collaboration happen every day. Hundreds of women business owners connect, attend workshops, use our resources, and form long-term partnerships that help them grow. If you’re ready to embrace collaboration as your next big business move, get on the waitlist to join the HerBusiness Network.
Visit www.HerBusinessNetwork.com to add your name to the waitlist and be the first to know when doors open.
Suzi
