Small Business Must Invest In Collaboration With Peers

Collaboration and working with Peers is something that Dynamix Solutions is very familiar with. Our membership in the Microsoft Partner Network is a great example of how we work with others in the tech industry. But did you know we are active in the Markham Chamber of Commerce and other local organizations.

How does the average Toronto small business compete on the global stage or against their largest competitor?  Collaboration may be the secret many small businesses owners are searching for.  Teaming up with like-minded and complimentary services to combine their efforts may just outwit their larger competitors.

Until and unless SMBs make collaboration their high priority, they may struggle to survive and prosper in this world of tough global competition. However, a research conducted by the InformationWeek Analytics has showed that small and medium-sized businesses are still wondering whether to invest in collaboration projects or not. Even as the IT budgets are on the rise, only one-third of SMBs intend on increasing their IT budgets while 15 percent were trying to cut down their expenses in technology.

There are major drawbacks to implementing collaboration tools which could be why SMBs are reluctant to invest in collaboration. Many fear that control over the information flow will be lost, and the collaboration will add more problems instead of solving them. However, it is essential, and been proven by some of small business best-of-breed companies, that investment in collaboration projects is vital to survive and thrive.

It’s best for small businesses not to jump into collaboration with both feet right away until they research the benefits and potential drawbacks that can arise from such an action. There are certain necessary precautions that a business owner should take first. Trust will be a major part in any joint venture or collaboration project, so if that trust is undone by any of the members, it will be very hard to recover the business relationship. Small business owners need to be able to recognize the warning signs and be able to avert any failings. If the collaboration seems to be falling apart or hampering the business, small business owners need to recognize this early, review the challenges and even put an end to the project if needed.

Business should also focus on building a successful collaboration and information sharing strategy. The fact that many businesses will have more IT resources this year than they had last year comes across as good news. But it is sad to know that as many as 20% of the businesses are considering reducing their IT expenses. Collaboration projects helps business move onwards and upwards, so investing in collaboration by avoiding the pitfalls is the right thing to do.

 

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