Rethinking the lone-wolf method, why collaboration is part of every eLab program

Authored by:
Naveed Ratansi

Naveed Ratansi

Check out CIEE Entrepreneur Lab programs and you’ll probably notice an emphasis on collaboration. If you’re used to flying solo, this might seem puzzling at first – or even at cross purposes to your goal of standing apart from competitors. But take a closer look, and you’ll see value in shifting your mindset.

Tap resources that add strength and open opportunity

Instead of thinking of other businesses as competition, try thinking of them as extensions of your own. By building a network of startups and small companies that share your ethos and enthusiasm, you learn about new tools. You bump into new ideas and talents. And you’ll discover how your businesses might complement each other. Find those synergies and work together, and you have a chance to compete in markets that would otherwise be out of reach.

Four strong reasons to collaborate,  let’s drill down deeper and see exactly where the value lies:

1. Financial gains. From joint tenders to sharing resource costs, business collaborators enjoy mutual savings that can lead to greater profits.

Money

2. Information bonanza. This is big. When companies share knowledge, they save significant amounts of time and money – and free their own people to focus on their goals.

3. Stronger teams. Employees tend to thrive and increase productivity when they have a network of others to share ideas with and lean on for support.

team work

4. More skills. The more people you add to your network, the more skills and talents you have to turn to. It’s like adding arrows to your quiver without the expense and responsibility of hiring.

Now that you can see why we want eLab participants learn to collaborate wisely, you might wonder what’s in it for us. Rest assured we’re not looking for a bite out of your businesses. We’re on a mission to nurture dynamic startups that diversify the marketplace and boost communities. See how our programs in London and Berlin can help you adopt a collaborative mindset – and link you to the partners, employers, suppliers, and clients that will help your startup thrive

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