Collaboration: Working with others to grow your business
Business growth is vital to the longevity of your business. Working with others will help you grow your business.
Once you’ve established your business and you’re making a profit on the products and services you sell, it’s time to plan for growth.
Typically, growth is often thought of as increasing sales. Still, looking for ways to maintain or improve your profitability is also essential.
There are lots to consider when growing your business. For example, increasing sales, changing legal structures, registering for VAT, developing new products and services, and additional funding.
However, it would be best if you started working with others as your business grows. After all, ‘no man is an island’.
Networking while you work is a co-working benefit, offering you the opportunity to connect, collaborate and grow your business.
Where to go for advice to grow your business
A problem shared is a problem halved is a well-known saying meaning that telling someone about a problem is easier to fix.
Suppose you want to grow your small business. In that case, you will need the support and knowledge of others to increase your revenue quickly.
Who to ask for advice and support to grow your business:
- Your accountant or bank manager.
- Your Local growth hub.
- Your Local Chamber of Commerce.
- Federation of Small Businesses (FSB) website.
- A business coach or mentor.
- Local networking events and business clubs.
- Co-working spaces like HomeWork.
The benefits of working with others to grow your business
Working with others can help you to be more innovative in the industry, giving you the knowledge to thrive.
A collaborative environment nurtures a diversity of opinions, approaches and problem-solving techniques.
Here are five ways working with others can help your business grow:
- Increase your customer base – when collaborating with someone who could be a competitor, you increase your reach to their client base without competing with them. Instead, you both benefit from what each other has to offer to build something more substantial.
- Expand your service portfolio – collaborative working means you can expand your offering without investing more or retraining. Working with others this way can save you money and, importantly, enable you to grow your business quickly.
- Accelerate growth by using technology – online collaboration tools facilitate working with others no matter where they’re based, helping you to work efficiently and scale quickly.
- Equipping you to handle challenges – working with others gives you access to different opinions and approaches, helping you solve problems quickly and efficiently.
- Enhance brand credibility – growing your team of associates and trusted business partners helps you to build a better offering. Working with others can increase your integrity and problem-solving capabilities.
How co-working supports working with others
Co-working spaces are more than just a physical base to beat the work-from-home blues; they provide a supportive business community.
Everyone using a flexible workspace is looking to build or grow a business, making them ideal for business growth opportunities.
One of HomeWork’s successful business matches is Ben Temple, Founder and Director at lettings and property management firm RocketPM, and Luke Chitty, Co-Founder of Growth Tap, providing growth strategy and delivery solutions for scale-ups.
Having met at HomeWork Southfields, Ben is now working with Luke and his firm to redefine his brand and business growth strategy. Talking about the partnership, Luke said:
“The opportunity to increase our customer base organically from where we work is one of the biggest benefits of using HomeWork. I met Ben at one of the space’s regular networking events and we hit it off right away! We spoke about his plans to disrupt the residential property market, but he needed help to unlock his messaging. Ben’s expertise and ambition excite us, so now we’re helping him to stand out from the competition!”
Explaining the benefits of working from a collaborative workspace, Ben said:
“Working at HomeWork has been fundamental to our business growth. We’ve met, and are working with, talented people like Luke. I was impressed by his digital marketing knowledge, something we need to invest in more to achieve our growth plans. The opportunity to get to know others on common ground is invaluable. We now have two fixed desks, giving us a flexible yet affordable professional base to meet our changing needs as we grow.”
If you’re interested in working with others to meet and share ideas, swap contacts, or find someone to collaborate with, try co-working!
At HomeWork Workspace, our London-based sites exist to inspire and support our members to grow personally and professionally.
Plus, we offer a variety of events to help with your learning and development, setting you up for business success.
How we can support you when working with others:
- A professional place to meet others.
- Events to expand your network.
- An inspiring place for teams to work together.
- Masterclasses and advice clinics to learn and grow.
- A Business Club to accelerate business growth.
- Meeting rooms for workshops and private meetings.
What are the best tools for working with others?
The pandemic brought changes to the way we do business. More of us are working with others remotely at least several days a week.
We surveyed our members and ad-hoc users about working at home versus using flexible workspaces. Over half (53%) said that ‘inspiration from the environment and people around them helps them to stay focused on growing their business and meet their goals.
Stay connected is critical to business success regardless of where you work. Working with others – clients, associates, team members, and mentors is essential if you want to grow your business.
Advancements in technology have made working with others more effortless than ever. Today, there is a myriad of tools to help us collaborate.
We consulted Digital Project Manager, the definitive resource for professionals looking to deliver impactful projects, to find the best online collaboration tools for teams in 2023.
Fifteen of the best tools for working with others:
- Troop Messenger
Working with others is critical to business growth, enabling you to be more innovative. A collaborative working environment is an ideal place to meet inspiring people who can support your business growth journey – you are not alone!
If you’re looking to grow personally and professionally, look no further. Welcome to HomeWork Workspace – your new favourite place to get things done. Get in touch today to see how we can help you grow your business.
9 November 2023
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