How to Power Up Your Business with Collaboration
In the dynamic field of business accounting, where every number tells a story and every regulation is a puzzle piece, you may find yourself in a maze of technicalities. While precision, rules, and a constant pursuit of knowledge are day-to-day happenings, another aspect is often overshadowed, Community and Collaboration.
Joe Woodard, one of my mentors at One 8 Solutions, and the luminary behind Woodard Events, LLC and the Woodard Groups, once shared an insight that’s been a guiding force in my professional journey. His message was loud and clear; have processes in place that are scalable and repeatable.
At face value, you’d think he was talking about operational efficiency. But it was a reminder of a broader philosophy and important lesson; while innovation and change (or transformation) are vital, you need to build your business on a foundation of robust, replicable principles – so that as you expand, your growth is both sustainable and consistent.
The Philosophy of Collaboration
In order of appearance: Richard Roppa-Roberts, Jonathan Bello and Joe Woodard
Collaboration isn’t just about uniting with peers; it’s about creating a synergy where combined efforts produce results greater than the sum of their parts.
Richard Roppa-Roberts, Founder of Quasar Cowboy Consulting and Roundtable Labs, also known as ProAdvisor’s Advisor, had it right. He said, “In my extensive experience of collaborating with accounting professionals, I’ve discovered the key to building a better business lies in working collaboratively with peers.”
Sometimes collaboration can feel like a complex dance – like learning the tango with two left feet. But when Roppa-Roberts lightheartedly said that “working with Jonathan Bello is like herding a cat,” he understood the nuances of collaboration.
One of the most important principles he believes in is coaching business owners to set goals, to help them achieve success. “It can be a challenging task,” he continued, “especially when working with someone as unique as Jonathan. My goal wasn’t just to help him reach his goals but surpass them.”
From his viewpoint, challenges in collaboration didn’t diminish the potential for success, they merely added layers to the journey.
Jeff Siegel, CEO of Siegel Solutions, also embodied the spirit of collaboration. Jonathan Bello recalls that “he went from a competitor to a confidant and collaborator,” but it didn’t happen overnight. According to Siegel, “collaborating with friendly competitors who become our allies allows us to share experiences that not only help our clients and prospect’s businesses but our own. In the end, we all want to do what’s right for our clients and that may mean referring them to a friendly competitor that may be a better fit.”
In order of appearance: Jonathan Bello and Jeff Siegel
How can you shift from competition to collaboration?
Paths to Collaboration
Trade Organizations: Beyond just setting industry standards, trade organizations offer golden opportunities for networking and opening doors to collaborations that can reshape the course of business.
Conferences: Participating in events, especially those organized by leaders and innovators in the industry, allows you to have an immersive experience. One that’s not just for learning but for creating bonds that last beyond the conference room.
Networking Groups: Local, regional, or national groups can be a goldmine of information and a safe place to share challenges and gain insight. You’re also able to take a closer look at business dynamics from insiders in your industry, and from the client side, too.
Online Communities: Platforms like Facebook Groups and LinkedIn are no longer just social spaces. They’ve transformed into bustling hubs of professional exchange and collaboration, breaking geographical barriers. They’re also media channels where you can build expertise and brand authority – and meet or network with key professionals and leaders. Learning how to use LinkedIn or its premium version, Sales Navigator, may be well worth your time and add significantly to your bottom line.
Diving Deeper
It’s easy to get caught up in the numbers, rules, and ever-changing technologies of business accounting. But one truth remains clear: building a sustainable business, with more than single digit growth doesn’t happen alone.
To grow personally and professionally, consider developing a community, in-person and online, and being open to learn, share, and offer your point of view, based on your individual experiences. Everyone brings something to the table, whether you’ve had a mentor or coach, or not.
In this new landscape, with artificial intelligence, blockchain, and machine learning reshaping our profession, the power of human collaboration has never been more important. It’s the bridge between leveraging technology and honoring the human touch in each of our accounting practices.
What if you’re not open to collaboration?
You could shut the door and never come out, or just stay glued to your computer. Then again, you could work in a silo, but that’s no fun and you might get lonely.
Think of it this way, you don’t know it all, but you probably know more than you think.
Share your knowledge, setbacks, lessons, and ideas. Collaboration without competition isn’t just smart business, it’s a way to pay it forward. And someday, as you plan your exit strategy, you’ll want to find the right person or team to take over.
Collaborating might be one way to test the waters.
One 8 Solutions continues to remain focused on trends in the local and global business community to ensure we have your best interest in mind. Setting your business up for success with accurate and efficient business expertise is what we stand for. Click here to schedule a no-cost, no-risk Zoom call to see how we can help you.
