In a previous post, I wrote about the importance of diversity in the innovation process. I suggested the use of one of four different kinds of networks to achieve innovation goals. In a world of resource, limitations collaboration is critical to reaching company goals. In short, to make the future together through collaboration.
Dorie Clark suggests the main ingredients of collaboration lie in collaboration capital together with the ability to show how your partnership will reach your shared goal. By offering collaboration capital, you provide a form of value useful to your potential collaborator, who should bring similar value in return.
Dorie suggests some forms of collaboration capital.
"Fetcher" Capital
This concept is similar to the hard work a fetcher would play in rugby. By offering to do the leg work, you're able to attract partners who have an elevated status. These partners possess a unique skill that breakthrough when facing specific challenges. Some examples are conducting a complex negotiation or ensuring innovation is legally compliant, etc.
"Expert" Capital
Domain knowledge experts know the targeted industry or particular topic well. Domain knowledge experts offer partners a reduced risk of unfavourable outcomes.
"Funder" Capital
Often external funding is needed to capitalise on the opportunity entirely. One way to increase the chances of collaboration with funders is to prove the probability of the deal. An example of evidence like this might be a signed letter from a potential client who has committed to signing up once the service has been created.
Innovation extracts enormous amounts of mind space. By collaborating with skilful partners with who you have aligned with your goals, you increase the probability of success.
