Why Going it Alone is Not Always a Good Business Idea

Very often we might look up to our favourite business entrepreneurs or ‘gurus’ as self-made heroes who have braved it alone where no other has dared venture before. We may see them as very individualistic loners who have truly flown solo– so to speak – without anyone’s help. But is this image really true?

Well according to Richard Branson, it rarely – if ever – is. Whatever greatness is achieved, it is almost always done in collaboration with others. In the real world, no one can ever have every skill and talent required to build something great, let alone the time or even the energy to do it all!

Why business relationships are vital

The value of relationships in business in this digital age is, as Branson says, more important than ever. This may partly be because of the synergistic and dynamic effect that occurs in business relationships, such as in the following scenarios:

·         There is an energy that often generates when people come together that you are not going to access when alone or simply communicating online. In settings where great minds collaborate, great ideas are often generated and built-upon. Branson cites the case of the annual World Economic Forum that he attends in Switzerland whenever he can, because of the enormous value he derives from it and sees within it, and because of the interesting people he meets there.

·         Also, when people operate in a team rather than alone, they are often more able to share ideas, find creative solutions to problems, to develop new products, and so on. Pooling of talents can be extremely valuable, and should not be overlooked in business.

·         Lastly, many solo-businesses may have some great achievements, but they are never going to be able to compete on a level field with larger companies that make use of many brilliant minds working together.

No man or woman is an island!

In reality, no one has ever operated alone. As Jeff Havens points out in this article onLeadership, every new idea and development is only able to be achieved because of discoveries that have happened previously. We all benefit from the knowledge and developments in science, literature, technology and other disciplines that have been built up over many centuries – enabling us to really ‘stand on the shoulders of giants’. Not only that, all of us have had teachers, mentors, parents and others that have guided us on our journeys.

This means the idea of the loner maverick may be more myth than reality. To try to go it alone in business may not get the results that could be gained in tandem with others. Networking, collaborating, partnering, team-building, attending trade shows and conferences, working within the community – these things can all have benefits to offer a small or medium-sized business, and vice versa. In fact Branson recommends making connections with people wherever you go – you never know what the people you randomly meet might have to offer!

So basically none of us can be Robinson Crusoe. We all need each other just to survive on the planet, and this applies in business as well. Take the time to build meaningful business relationships and to collaborate or partner with others on ideas, talent pooling, problem solving and so on, and the mutual benefits can be pretty unlimited.

Workshops and business networking

If you are keen to learn more about successfully networking with other businesses, and expanding your own personal network you might be interested in the various business networking events and workshops on the Chamber website.