Collaboration - Motherhood and Apple Pie?

Spring is conference season in the financial technology world, and every year a predominant theme pops up as an unofficial focus within the industry. This year, "the power of partnerships" is such a hot topic it's starting to singe my mind. These enthusiastic discussions lead us to believe all will be solved if we get out there and PARTNER! I hate to throw cold water on the parade, but not all partnerships are powerful. Partnership is an interesting word. It implies equity, shared risk and reward, and a warm, hand-holding-kumbaya approach to business. As glowing dialogue flows amongst similar minded people in a privileged space, it's easy to agree on the surface and pat ourselves on the back for such "innovative" and "forward thinking". Ugh. I think I need some topical aloe.?

Here's the thing - partnership requires collaboration. We can sign a contract, exchange a transaction, and tell the world we are partners, but our day to day actions are blunt realities. Collaboration is bloody hard. It's not merely a buzzword or an idea, its a way of working through influence, discussion and trust building that requires tenacity to move forward. Where was the last time you saw these skills being rewarded, let alone fostered for leaders? We live in a business world that has taught and compensated competition as the greatest driver for organizations and leaders.

Competition is often bred internally within many organizations, pitting teams or individuals against each other, in the belief that creating more "hunger" will drive more results. It's that "dog eat dog" mentality, with a zero sum belief that there can only be winners and losers. It's also a simpler and less complicated model to work in, as there are fewer decision makers and a top down strategy, which brings speed and efficiency. So, why is everyone suddenly talking about collaboration?

Within many industries, and especially in financial technology, disruptive factors are challenging the competitive way of thinking. Organizations are under tremendous pressure to change in ways that test their core competencies, and ability to find the right talent. Those who are having success are figuring out how to find a trusted partner to bolster their offerings or strengthen what they do best. This type of partnership is based on a different belief; by combining efforts, the value produced is greater than what each could produce on their own. This "abundant mindset" (see Nancy Duarte's research) sees opportunities that can be created rather than purely exploited. It sure sounds like "motherhood and apple pie" though, doesn't it? I've always detested this image because it's a veneer - no different than this recent embrace of partnership. The hard truth is that successful collaboration is rare and difficult, and few of the conference-elite speak from this experience. Even working as a cooperator, the very sector that enshrines collaboration at its core, I see partnership is difficult. But, it's worth it!

Real partnership is a relationship not driven by a contract. If you have to remind your spouse of their wedding vows on a regular basis, the marriage is likely to fail. If we need to manage our business partnerships by contractual terms, we'll get what we signed for, and no more. It's the activity of collaborating or working together, that builds trust, shared vision and results. Partners who collaborate need more than terms, but a shared purpose or vision to make sure they stay aligned to the outcome. Establishing clear principles on how the organizations will work together is an important foundation for trust building. Developing clear decision frameworks and governance models are essential. These are the tools that enable people to work through differences, challenges and the inevitable times that people go "offside". And let's be real - we all do it, but it's the process that sets us free.

There's one essential quality that collaborators must have in great supply - patience.?Collaboration is frustrating. Debates and consideration of diverse ideas is tiring. However, it's this very struggle, like the butterfly in a cocoon, where we strengthen our wings to be ready to fly. Too often, when the going gets tough, the tough minded set going. With a little more patience and some elbow grease, we can get there. It's just going to take a lot more than panel discussions and feel good pies.