Power of Collaboration-with Debra Duncan

WBEA Luncheon

In a day and time when businesses across the globe are searching for ways to differentiate themselves from everyone else in the market, there’s one way that many businesses may overlook in their attempt to rise to the top: the power of collaboration. There’s an old adage that says, “Two heads are better than one.” Well, that same idea is true in the business word.

As a business owner, especially a small business owner, often times there is a tendency to want to do everything yourself. That’s totally understandable when you factor in the fact that most business owners built their company from the ground up, with little or no help from anyone else. And now that the business is where it is today, it’s hard for many business owners to let go and explore the possibility of teaming or collaborating with others to form a dynamic partnership.

But let us let you in on a little secret: collaboration is how it’s done. Collaboration is the key to unlocking many of the barriers that many businesses face. Often times businesses owners are faced with obstacles that cannot be overcome due to a variety of factors, such as:
• Skillset
• Financial constraints
• Adequate personnel
• Experience
And more. However, simply collaborating with others can open doors and opportunities that never ever could or would be a possibility due to various limitations. In fact, when you look throughout history in the business world, collaborations or the lack of a collaboration has always been the difference between getting to the next level of success, or remaining the status quo, which as you already know can land any business, right out of business.

A great example of a good collaboration is the recent collaboration between Apple and Mastercard. We’re sure that by now you’ve probably at least have heard of Apple Pay. Regardless of if you use an iPhone or Android, we’re sure that you’re aware of the widespread use of Apple Pay, which is available at thousands of the world’s top retail brands and shopping locations. But the crazy thing about it is that as successful as Apple is, Apple couldn’t introduce Apple Pay to the world without a strategic partner….and that strategic partner is Mastercard.
• Apple has the technology
• Apple has the vision on changing the world
• Apple has one of the largest and most loyal customer base and following than any other brand in the world
• Apple has been recognized by Forbes Magazine and many others as the world’s most valuable brand
BUT all that meant nothing when it came to launching Apple Pay unless it was able to collaborate with another great company (Mastercard). Without the ability for consumers to utilize Mastercard’s debit or credit card platform, the Apple Pay technology in which Apple developed would be useless. However, the collaboration with Mastercard has allowed Apple to launch Apple Pay…and even work out all of the kinks to sync its technology with the popular debit and credit card supplier while the other debit and credit card suppliers, such as Visa and American Express get themselves ready to also partner with Apple’s technology.

Apply Pay has been so revolutionary and successful that Android is now jumping on the bandwagon to develop “Android Pay.” Talk about what just one successful collaboration can due for not only the companies involved, but the world. That says a lot, and if an iconic brand like Apple understands and utilizes the power of collaboration, YOU should too!

The power of collaboration is so vital to individual and business success that RAC Houston Conference Center President Gauri Seth has been selected to serve as a panelist for the upcoming WBEA luncheon in Houston, where the WBEA will presents an all-access pass to discover the power of collaboration from top professionals in various fields.

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