Using Collaboration and Connectedness strategies to gain market share (not the time to play small)

Market share shrinking is faced by many businesses today. Largely most has anticipated that the economic challenges looming around now will stayed on for quite a while. And as such many businesses has tried to re-pivot and transformed.

With challenges coming from many fronts being it supply chain or cost inflation, it is not easy for some businesses to act alone with limited resources, information and capabilities. In fact, it is one of the biggest threats. There is a limit to how much and how quick fixes can be done. And sometimes, time is also against them.

If your business is facing such situation now it is worthwhile to give deeper thoughts on strategizing your business based on collaboration and connectedness. These two concepts of collaboration and connectedness is not new but the power it can unleash can take businesses to the next level is most profound.

As time crunch and quick solutions are sought after, many businesses have joined forces to work together to gain market share. This is not the time to play small.

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With collaborations and connectedness, your business can achieve the following advantages that is so critical to gain market share.

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?1.????Synthesize knowledge

Synergistic knowledge is powerful today. Through collaboration and connectedness, knowledge can be learned and exchanged. Such exchanges can bring forth new ways, solutions or ideas never thought of. Each of us has our deep strong domain knowledge and when mixed and blended together, it can produce highly innovative thinking.

?2.???Applied experience

This part of the experience is most critical. With collaboration and connectedness, the different types of experiences encountered can be share and learn to avoid similar mistakes. Costly mistakes avoidance is what businesses need today. Best practices can be harvested and applied to secure future successes. Truly this is beyond what money can buy. Shared applied experiences also broaden solution options to gain market share.

?3.???Cross-discipline solutions

Indeed, shared applied experience also broaden solution options to a particular problem! Because the requirements to gain market share today is many a times not so straight forward and are inter-connected, it requires cross-discipline knowledge and experiences to properly dissect, evaluate and come up with meaningful solutions. This produces effective solutions that can creates far reaching value to your business.

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To be successful in collaboration and connectedness, you must know how to build successful and lasting partnerships. Strategic partnering is a strategy, not just a task. There are ways to structure it successfully. It is not random.

Be open to work together. There are so much more to gain together. As a saying goes; "Alone we can do so little; together we can do so much."

As a start, look at your current business value chain and identify where and what are the bottlenecks. Is it financials, talents, technology, operations or customers related? Once identified, work out a collaboration proposal and seek out interested collaboration partners. Structure your collaboration proposal with mutual gain, cross support to grow and well documented sharing of accountability, risk and benefits. Always start small (first) till both sides gain trust and comfort in working together.