A small collection from relevant articles over the internet.

 

5 Reasons – Why Collaboration Is Essential
in Today’s Business Environment

Working in teams isn’t just for employees, company founders can learn volumes by reaching out for a hand.

 

Here are five reasons why collaboration is important for the growth of a business:

  1. Self-awareness. Nothing crystalizes what you bring to the table more than when you’re forced to articulate your competencies Collaborating challenges you to articulate and distill what you are great at, and what you do poorly. That honesty about your strengths and weaknesses can force you to ask for help when necessary and be brazen about how you can help others.
  2. Scale. The old adage, “two heads are better than one” has been around for over four centuries for a reason. More effective problem solving happens when you combine resources in talent, experience, finances and infrastructure. Sharing and leveraging those resources means that your reach to new markets increases and re-energizes the connection you have with established customers.Ecosystems rule, and as in nature, our social organizations thrive where there are diverse and complimentary systems that enhance the lives other firms. Understand that your firm is part of a greater whole, and that there is power in that.
  3. Creative Abrasion. This term was coined by Jerry Hirsch when he was an executive designer at Nissan. “Abrasion” is a process of wearing down through friction. We typically associate friction with something negative, but friction in its purest form, is energy. So why not convert that energy that comes from working with people who are different from you, into something positive? Leverage the differences and work to identify what can be complementary about them. Which leads me to this next point.
  4. Take the long view. Sometimes things don’t work out well when you collaborate with others, no matter how hard you try, how patient you are, and how well you listen. But does that necessarily mean you never attempt again to work with that organization? Take the long view about perceived failures, as Dave Gloss from the creative agency Here’s My Chance reminded the group: while an initial project may not do well, the partnership may still be salvageable.
  5. Learn, learn, and learn some more! Collaborating propels your firm to become a learning organization, a popular phrase right now that refers to organizations which have cultures of ongoing learning, and structures that support that learning through safety nets for failure, and opportunities for growth in all aspects of employees’ lives. Each time your firm collaborates with others you optimize the capacity of your associates to extend beyond their comfort zone, grow, and in turn, stretch the boundaries of the organization.

So while collaborating isn’t necessarily easy, it can, over time, get your firm to a much more interesting position to innovate…

 

READ the full article “Why Collaboration Is Essential”  by Nataly Nixon, in Inc.com.

 

 

 

Why are collaboration and compromise important in business?

 

Mark Zuckerberg once said, “the most important thing for you as an entrepreneur trying to build something is, you need to build a really good team. And that’s what I spend all my time on.”

 

The traditional idea of the entrepreneur as an independent visionary has changed: it’s increasingly about the team. Bringing an idea to life and resolving new unexpected challenges is more often than not beyond the reach of one person. We see this in everything from startups being founded by multiple people to the Nobel Prize being increasingly awarded to teams.

Collaboration matters. Hard problems are not only solved more easily by collaboration but actually require it, so if we want to solve problems and fulfil ambitions, we need to get better at working within and managing teams.

Getting it right makes all the difference

Research from McKinsey suggests that in highly collaborative environments there is a performance differentiator of up to ten times between high performing and low performing organisations. Good collaboration is the closest link to accelerating innovation in business and achieving employee fulfilment …

 

READ the full article “Why are collaboration and compromise important in business?” by Tom Marsden in virgin.com

 

17 Key Lessons – For Entrepreneurs Starting A Business

         “Starting a new business can be a daunting task. There are myriad issues a new entrepreneur will encounter: legal issues, financing, marketing, product development, intellectual property, human resources—the list is endless. Many new entrepreneurs are simply overwhelmed by all the things they are expected to know.

Having been involved in hundreds of startups as an entrepreneur, lawyer, venture capital investor, angel investor, and Board member, I have learned a number of real-world lessons. In this article, I share 17 of the most important ones, along with references to other helpful articles that can offer you a more in-depth discussion of each topic.”  

  1. Come Up With a Great Name for Your Business.
  2. Understand That Raising Financing Is Difficult.
  3. Focus on Building a Great Product—But Don’t Take Forever to Launch.
  4. Become a Strong Salesperson.
  5. Build a Great Website for Your Company.
  6. Perfect Your Elevator Pitch.
  7. Nail Your Executive Summary and Pitch Deck.
  8. Understand Financial Statements and Budgets.
  9. Keep Your Investors Constantly Informed With Both Good and Bad News.
  10. Get All Employees and Consultants to Sign a Confidentiality & Invention Assignment Agreement.
  11. Market Your Business Like Crazy.
  12. Use Consultants and Freelancers to Supplement Your Team.
  13. Make the Deal Clear With Co-Founders.
  14. Get the Right Business Lawyer.
  15. Take Into Account Important Tax Issues.
  16. Do These Things Before Hiring an Employee.
  17. Expect Big Challenges and Be Prepared for Them.

 

READ the full article “Lessons For Entrepreneurs Starting A Business” by Richard D. Harroch, in forbes.com.

 

10 reasons to start a business in 2018

With the right planning, effort and a little bit of luck, 2018 could be a great year to start a business. But why would you want to go it alone in the first place? What are the advantages of starting up a business?

Here, Startups gives 10 great reasons for starting a business…

  1. You are your own boss
  2. You get to do what you’re interested in
  3. Your business = your deadlines
  4. Get creative
  5. It’s not that hard to do
  6. It can be very profitable
  7. It’s varied
  8. You can have a second career
  9. Cut the commute
  10. The big dream really can become reality

 

READ the full article “10 reasons to start a business in 2018” in startups.co.uk

 

The best advice for entrepreneurs, from 16 real people
who started their own companies

 

“Business advice can be a huge help”

  • Business advice from entrepreneurs, startup founders, and CEOs comes in handy.
  • We asked 16 entrepreneurs to share some words of wisdom, based on lessons they’ve learned and mistakes they’ve made along the way.
  • That wisdom includes: Let other people help you, know your customer, and make decisions with data.

 

READ the full article “The best advice for entrepreneurs, from 16 real people who started their own companies” by Shana Lebowits in businessinsider.com 

 

 

 

11 Key Business Benefits of Team Collaboration
&(Why You Should Work on Your Teamwork)

 

What’s the point of all the focus on collaboration?

According to a white paper by UNC Kenan-Flagler Business School, when collaboration permeates the entire organization, there are huge benefits to your bottom line, which includes engaged employees, retention and attraction of talent, increased velocity, and profitability.

But these aren’t the only benefits of team collaboration. We took a look at our own experience, how internal and external collaboration in Wrike has impacted the company, and we realized that a collaborative culture is actually the single most potent element for an organization’s survival.

The 11 Benefits of Team Collaboration

Here are each of the 11 benefits we’ve pinpointed and why teamwork is crucial to every company’s day-to-day dealings:

  1. Improved Flexibility of the Organization
  2. Engaged Employees
  3. Healthier Employees
  4. More Productive Meetings
  5. More Attractive to Top Talent
  6. Accelerated Business Velocity
  7. Higher Retention Rates
  8. Innovative Ideas
  9. Better Alignment with Stakeholders
  10. Enhanced Individual Productivity
  11. Increased Profitability

READ the full article “11 Key Business Benefits of Team Collaboration” by Lionel Valdellon in wrike.com 

 

 

How to Start a Business:
A Complete Guide for Startup Entrepreneurs

Everyone wants more visitors, more qualified leads, and more revenue. But starting a business isn’t one of those “if you build it, they will come” situations. In order to build a successful company, you’ll need to create and fine-tune a business plan, assess your finances, complete all the legal paperwork, pick your partners, research apps for startups growth, choose the best tools and systems to help you get your marketing and sales off the ground … and a whole lot more…

READ the full article How to Start a Business by Meg Prater in hubspot.com

 

Why Cyprus Is the Best Place in Europe for Digital Business

There is a tiny island sitting on the very edge of Europe, which you probably only think about as a lovely holiday destination — over the past few decades it certainly was not famous for being an economical utopia (remember the banking crisis in 2013?). But, after living in the Republic of Cyprus for more than six months and getting a decent insight into all the marvels it has to offer, I eventually realized that the innocent looking isle is indeed an entrepreneurial paradise for any digital businessmen and -women.

 

READ the full article “Why Cyprus Is the Best Place in Europe for Digital Business” by Simon Moser, in entrepreneur.com

 

Destination Cyprus: Asian Funds Make Island Their Europe Gateway

For many investments funds from Asia, Cyprus has become a gateway to Europe.

Drawn by its location — straddling the regions of Europe, the Middle East and North Africa and with access to Eastern Europe, Russia and former Soviet republics — flexible legislation and lower costs, Asian funds are using Cyprus for their single European Union passport for investment across the bloc.

“There is an increasing trend for funds from countries who traditionally didn’t have strong economic ties with Cyprus such as China, India and even Japan, to establish a base in the country as their gateway to the EU,” Andreas Yiasemides, Vice President of the Cyprus Investment Funds Association, said in an interview in Nicosia…

READ the full article “Destination Cyprus: Asian Funds Make Island Their Europe Gateway” by Paul Tugwell and Georgios Georgiou in bloomberg.com

 

Προσέλκυση funds από Ασία, Αφρική, Ισραήλ και Μέση Ανατολή

Στις σημαντικές προσπάθειες που καταβάλλονται για προσέλκυση οργανισμών συλλογικών επενδύσεων προερχόμενου κυρίως από την Ασία (Ινδία, Κίνα), Ισραήλ, Αφρική και Μέση Ανατολή, καθώς και τις προοπτικές που ανοίγονται για το κυπριακό fund industry ενόψει Brexit αναφέρεται ο Συνέταιρος, Υπεύθυνος Υπηρεσιών Επενδυτικών Ταμείων στην PwC Κύπρου και Αντιπρόεδρος του Κυπριακού Οργανισμού Επενδυτικών Ταμείων (CIFA), Ανδρέας Γιασεμίδης…

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The single biggest reason why startups succeed (the timing) | Bill Gross

 

 

A Modern Concept of Collaboration