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The 6 Business Benefits of Collaboration
What are the true business benefits of collaboration? Let's find out and learn how you can get your company positioned to win at collaboration.
Since the beginning of sales, sales professionals have been talking about the benefits of collaboration. It makes you wonder…what are the true business benefits – and how can you get your company positioned to win at collaboration?
Business advisors and consultants have been studying the critical importance of collaboration for years. A 2014 Deloitte report identified 6 critical areas where collaboration provides business benefit.
These are speed, quality of work, innovation, employee engagement, growth, and profitability. The Deloitte experts confirmed that specific markers help organizations define, support, and measure each of these areas.
What Is Collaboration?
“Collaboration is employees communicating and working together, building on each others’ ideas to produce something new or do something differently.”
Sometimes, it’s easy to miss the point of collaboration. This is especially true if your sales staff feels that collaboration is an initiative from on high. If people don’t ‘get’ the point of collaborating, they may dismiss it as a passing phase.
Have you encountered this in your organization?
How To Support Collaboration
For a lot of sales professionals, solo sales methods are like a home zone. We know how to be a solo hero, rainmaker, or top performer. What we may not know as well ashow to collaborate.
If you’re hesitant about asking a basic question such as, “How can I support collaboration?”— it’s understandable. No one wants to ask a question that seems basic, or could be seen as ‘uneducated.’ But, the fact is, if you’re thinking about the question, you may just be voicing what many other people are thinking.
You may have heard the phrase, “There is no such thing as a stupid question.” Or to put it another way: “The only stupid question is the one that is never asked.”
A lot of well-educated people are used to the habits and rewards of competitive achievement. Yet it’s possible that due to our upbringing, education, and work history, we are equally unfamiliar with habits, practices, and rewards of collaboration. It’s a word we hear and use. But what does it truly mean as a way of working?
Naturally, collaboration is more than the labels or measurements. It’s intimately connected with employee work-styles—related to mindset, toolset, and skillsets.
As we continue to create our new normal and a new model for collaboration, we need to encourage collaboration at the very core of our efforts. This will impact how organizations function, form strategic partnerships and create a competitive advantage.
Exploring The Benefits of Collaboration
When thinking about collaboration, it often helps to start with the benefits.
This is a lot like examining the outcomes before you start a project or begin working towards a goal. When you know the value of where you’re going, it’s a lot easier to see what you need to do.
For example, let’s say you want to achieve some fitness goals. You know you should exercise, eat healthy food, and find ways to relax. But, without knowing the personal benefits, these ideas could remain on your ‘to-do list without getting full attention.
Now, let’s imagine that you get invited to go on a mountaineering trip to a place you’ve always dreamed about. It might be hiking in Switzerland, exploring in Nepal, or another dream destination.
You know you aren’t even close to being ready…but you want to do it. It would be the achievement of a life-long dream. You could do something you’ve always dreamed of doing.
Do you think you’d be more motivated?
This is how it is when you start exploring the benefits of collaboration. It transforms the entire landscape of thinking. It is a way to start from the inside out and get to an unstoppable passion for taking your business to the highest peaks possible.
Ask yourself whether the business benefits of collaboration would be useful to you, your team, and your organization.
Just to recap from the Deloitte report, the 6 business benefits cited are speed, quality of work, innovation, employee engagement, growth, and profitability.
What would happen to your workflow if you increased the speed? What would be the benefit of radically reducing sales cycles? What could happen if you could reach more of your target market in less time?
Quality of Work
What benefit might you see if the quality of work went from good to great? What could happen to your brand when you become known as the best-in-class?
What could happen if your team was able to innovate faster, and lead innovation for your target audience?
What benefit might you see when employees are fully engaged? How could this affect training costs and time? How could this reduce turnover?
What benefits could you experience with consistent growth? Could you explore new markets, expand solutions, and grow your brand?
What benefits might you find with greater profitability? Could you expand employee benefits such as education, pay, and health services? Could this positively impact your timeline for expansion, growth, and innovation?
Exploring the business benefits for your organization is a great way to open up thinking about collaboration. By starting from the benefits, you won’t have to push yourself, you’ll be fueled from the inside. You also won’t need to push people towards collaborative thinking, tools, or workspace.
You’ll ignite a passion for collaboration – exactly because it can take your business to go where you want to go.
Exploring ways to connect with the business benefits of collaboration is a key component of success.
By starting with a collaboration mindset, you can join successful businesses that are shaping the market and realizing significant revenue potential. Partnership Co-Selling is how you can virtually qualify B2B sales opportunity. You can use this to boost sales, expand your network, and grow profitability.
Using a platform like CoSell is the simplest way to get your sales team on board. CoSell is a robust platform that makes it easy and fast to automate and scale collaborative co-selling across sales teams.
If you’d like to explore how partnership co-selling can help you and your team boost sales and win major clients fast - check out our selection of free eBooks.