How Collaboration Can Save Your Small Business

A small business starting up faces a lot of challenges, and many of those challenges are due to limited resources. Small businesses have to find creative ways to establish themselves as legitimate competition for their often much larger competitors, and somehow reach enough customers to not only maintain itself, but to grow as well. It’s a daunting situation, and according to a recent working paper from Harvard summarizes that it is harder for those just starting to succeed. But those that do succeed show an interesting trend in ideas: a lot of the success comes from some form of collaboration, either in the form of funding or in the form of ideas passed on to beginning entrepreneurs from their former employers.  But collaboration can go much deeper and be much more fulfilling than that.

Kimber Lanning’s “Roosevelt Row” in Phoenix, AZ is one inspirational example of how collaboration can be used to overcome otherwise impossible circumstances. Lanning’s small business was located in a demographically poor area, and the resources that she had at her disposal were limited to abandoned buildings in a dangerous area. As she reached out to her customers, other small business joined her, and through collaboration these business could pool together their resources. Together, they transformed an impoverished neighborhood to a thriving local business area. Lanning now advises everyone in her state: “Regional thinking creates new dollars for all.”

3rd Eagle is a company that can help business big and small prepare for and benefit from partnerships. They focus on finding a power partner which will increase the amount of customers both businesses can reach. For small businesses, this means that 3rd Eagle can use their customer assessment tools to find partnerships which will aid in the growth of small business and create mutual benefit for all parties involved.  This is a remarkable tool for a small business. While it is easy to find collaboration opportunities with social media, 3rd Eagle can refine the search and the results to those partnerships that can be the most advantageous, and for many small businesses, there is not much room for trial and error.

Collaboration is the key to success, and 3rd Eagle has the best tools to form profitable collaborations. Contact us for more information on how 3rd Eagle can get you into the right partnership and grow your small business into something inspiring.

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