My 6-year-old son had a t-ball game last night – the last game of the season. This was his first year playing and he has been learning the basics of how to play the game and how to be part of a team.

Here he is smackin’ the ball… :)

Just like a baseball team works together to accomplish a common goal, collaborating with other entrepreneurs can help you accomplish more in your business, and help you do it faster. It’s a win-win for all parties involved.

 

“If you want to go quickly, go alone. If you want to go far, go together.” ~ African Proverb

 

If you are a solo entrepreneur, consider this… You’re not going to go far until you start collaborating with other entrepreneurs.

Learning to work with others so that you are maximizing your efforts is SO important!

 

Why collaborate with other entrepreneurs?

1. You will capitalize on each other’s strengths

Each player on a baseball team has a position according to their strengths. The pitcher is best at pitching and is often a weak hitter, but the strong batters on the team make up for the pitcher’s weakness. Likewise, when you collaborate with other entrepreneurs, you may find that your strengths may be another’s weaknesses and vice versa. As a team, your combined strengths benefit everyone, including your customers.

2. You will gain credibility

How do you prove to your potential customers that you have a legitimate business? One way to gain credibility is to team up with other business owners. This works especially well if the person you collaborate with already has a loyal following. When they introduce you to their list, their list will trust you because they trust the person who introduced them to you.

 

How can you collaborate with other entrepreneurs?

There are many situations in which you could work with other entrepreneurs to achieve more in your business. A few examples:

1. Business Partnerships – both partners manage the business and are liable for its debts.

2. Joint-Ventures – working with another business owner as temporary partners on a short-term project.

3. Affiliate Launch – promoting a product created by another marketer to your list in exchange for affiliate commissions.

4. Cross Promoting – often accomplished by joining a “tribe” of bloggers who agree to promote each other by commenting on each other’s posts and syndicating each other’s content.

 

These are just a few ideas. There are certainly other ways to collaborate with other marketers. Get creative! Stop hiding behind that computer and start networking with other like-minded entrepreneurs or business owners and find some ways to work together.

I promise you, you will see your results multiply in your business when you implement this principle.

What has your experience been? Have you found some creative ways to collaborate with other entrepreneurs? If this post has helped you please share it on twitter and facebook!

 

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Leverage: A Powerful Business Principle

by Nicole on May 23, 2011



 

 

 

 

 

 

 

 

 

The Pyramids.

Stonehenge.

Easter Island.

These ancient wonders have baffled archaeologists for centuries! How these structures were built is one of the mysteries of the ancient world. It is speculated that the ancient civilizations used levers and other simple machines to move the large stones into place.

In the third century B.C., the Greek scientist Archimedes astounded his audience by saying “Give me a place to stand and rest my lever on, and I can move the Earth.”

What power!

The concept of leverage applies to business also.

The financial definition of leverage is “The ability to influence a system, or an environment, in a way that multiplies the outcome of one’s efforts without a corresponding increase in the consumption of resources. In other words, leverage is the advantageous condition of having a relatively small amount of cost yield a relatively high level of returns.”[1]

Leverage is about maximizing the returns on your efforts. The beauty of internet marketing is that it’s all about leverage. The internet allows business owners to reach more people with less time, money, and effort, increasing their productivity and their profits. It is an amazingly powerful tool that you can use to get your message to people! Any business can take advantage of this power, no matter what their product or service is.

So how can I use the internet to get some leverage for my business?

There are many ways, but here are two big ones:

1. Leverage other marketers

2. Leverage social media

Leverage Other Marketers

You can gain leverage by using the assets of other marketers, particularly their list or audience. For example, if you have a product to sell, you can team up with another marketer who will promote it to their list of customers in exchange for a nice commission. This is mutually beneficial. You gain new customers and new sales and the other marketer gains credibility as a value-provider as well as the profits from commissions. Collaboration with other marketers is a great way to leverage your efforts and maximize your returns.

Leverage Social Media

You can gain leverage by using social media to get your message in front of as many people as possible. Think about it, if you create a video and upload it to multiple video-sharing sites, that video stays there, working for you day and night for weeks, months, or even years…as long as you leave it up! Now compare that to talking to people in your community or circle of influence one at a time, in-person or on the phone. Which method do you think is more efficient or LEVERAGED? Facebook is a great place to gain leverage. Every time you post to your profile or page, all of your friends or followers see that message and may even decide to share it with their friends or followers. The same principle applies when sending an email to your list, tweeting on Twitter, and writing an article or blog post.

How do you leverage the internet for your business? I would love to hear your comments! If this post was helpful, please share it with a friend!

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