Navigating Successful Collaborations with Vivienne Joy | EP269

"Competition makes us faster, collaboration makes us better" - FyreFly.

EP 269

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In this episode of the Mindset & Action podcast, co-host Vivienne Joy and I discussed the topic of collaborations in business, something we both feel strongly about. We kicked off by discussing the immense potential collaborations hold for business growth and personal development. However, as much as they can be beneficial, collaborations can sometimes go wrong, often due to misaligned expectations. Vivienne shared that trusting your gut feeling is crucial when deciding who to collaborate with—if something feels off, it’s better to leave it out, even if the opportunity looks good on paper. It's all about listening to your intuition, as it often knows best.

Vivienne then elaborated on the importance of ensuring values are aligned in any collaboration. Collaborating with someone whose values don’t match yours can hurt your reputation. For example, if you're reliable and always deliver, but you partner with someone who isn’t, it can reflect poorly on you. She gave a great tip about understanding the value exchange in a collaboration—what are both parties bringing to the table? If it feels like one side is benefiting more than the other, it’s worth reconsidering.

Another important point Vivienne made was about skills and roles within collaborations. She recounted a story of two clients who collaborated, but neither wanted to take on the role they were good at. This led to frustration and imbalance. Her advice? Make sure that the tasks and responsibilities within the collaboration align with each person’s strengths to avoid resentment and burnout. It’s about playing to each other's strengths, not stepping on toes or trying to do everything together.

We also touched on the financial side of collaborations, and Vivienne shared a hard-earned lesson: always be clear on payment arrangements. Whether you’re splitting profits or paying each other for services, ensure that everything is agreed upon upfront and that contracts are in place. She highlighted how tax issues, such as VAT, can crop up unexpectedly, causing financial loss if not properly planned for.

Finally, Vivienne’s personal experience of a collaboration gone wrong underlined the need for contracts in monetary collaborations. A past partner of hers failed to deliver on a high-ticket item, and it was Viv who faced the backlash, even though it wasn’t her fault. This reinforced her belief that while collaborations can be powerful, they need to be entered into with caution, clear agreements, and strong trust.

Wrapping up, we both agreed that while collaborations can help grow your audience and business, they’re not always necessary. If it feels right and aligns with your values, great! If not, there’s no harm in focusing on your own path. Trust your gut, put contracts in place, and only collaborate with people who share your vision and values.

Bye For Now!

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