Collaboration is the key to growth

When everything is smooth sailing, most of us develop a false sense of confidence in ourselves. We think that we can independently handle anything that comes our way without requiring others’ help.

How do I know? Because I, too, once thought that I can single-handedly catch all the lemons life throws at me. I was very wrong!

When I got fired from—wait for it!—my own company X years ago, I lost over hundreds of thousands of dollars. I wanted to start another business of my own, one where I would have complete control, but lacked capital. I applied for business loans in 3 banks and they all rejected my application. Consequently, my plans to acquire another auditing firm fell through.

Just when I felt my hope slowly drain out, a real estate mortgage lender restored my faith. They offered a creative lending solution, which entailed providing myself and my business partners a line of credit to run our consulting practice while holding our property investments as collaterals. The line of credit gave me enough cash to push forward and restart my business. An IT vendor also helped in securing my client information contact and files. I could see my business finally start to shape up.

While your core competencies contribute to your success, they are not sufficient for further growth. You need to learn to collaborate with other people and use their strengths to build a wholesome business. You can seek the help of literally anyone you want—business attorneys, business financial advisors, bankers, insurance brokers, your IT guy, and even your best friends. In fact, the ability to identify your weaknesses and work with people who can turn your weaknesses to strengths is a must-have core competency in the corporate world.

Just remember, if you cannot climb over the wall, it is perfectly alright to have someone give you a boost. Collaboration is the key to success!

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