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For Financial Wins, Consider Organizational Collaborations

What is means for small businesses to collaborate

Small business is all about competing in challenging environments. It’s doing business in the shadow of the “big box” stores as well as the neighborhood competitor. While competition is unavoidable, there are also endless opportunities to collaborate with other businesses in order to diversify your audience, reach new customers, and improve your products or services.

But first, what does it mean to collaborate with another small business?

According to Sharita Humphrey, “It refers to organizations working together to solve problems and achieve goals that seem to be out of reach when working alone. By combining the expertise, perspectives and skills of different people and organizations, all parties involved are better able to innovate and grow.”

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