collaboration is good for everyone

More recently, the collapse of tech-specialist Silicone Valley Bank saw shock waves reverberate around the world.  In the UK, the London-based subsidiary of the bank was under threat of administration.  Faced with the resulting threat to their businesses, the bank’s customer base of entrepreneurs and venture capitalists rallied together, and a WhatsApp group sprang into life.  But this was no ineffectual echo chamber between worried customers: this was the foundation for a rallying call to their tech networks and professional bodies to join them in making the case to government ministers for saving the independent subsidiary of the bank in the UK.

This was a conversation between potential competitors, all chasing finite funds to grow their innovative solutions, while perhaps dreaming of becoming the next disruptive force that creates billionaires, like Brewdog or AirBnB who have gone before.  Yet, threatened by imminent business failure, they worked together with outstanding results.  Over a single weekend, the SBV subsidiary was hauled back from the brink with a takeover by HSBC.

More often when you think of corporate collaboration, it’s complementary pairings that come to mind.  Such as car manufacturer BMW and designer Louis Vuitton, with a range of luxury luggage to stow in the boot of a luxury car.  A logical combination, as both are in the business of travel and both known for high-end products and craftmanship.

Or the co-operation between tech-based disruptors Uber and Spotify, which enables Uber customers to play their own Spotify music playlist through their Uber driver’s audio system.  The solution was a positive for customers, who no longer had to listen to the driver’s choice of music, and boosted audiences for both companies, by introducing their customer base to each other, as well as winning column inches for their innovative approach.

These are all examples of how joint efforts can bring business partners new knowledge and audiences, push industry boundaries, or overcome obstacles.

Between individuals, the benefits are equally valuable, whether through mind-broadening knowledge, business building tips, career-enhancing connections, or simply the reassurance that comes through shared life experience.

Collaboration has never been so important.   Digitally, we are more connected than ever before, but remote working has made many of us the most physically isolated working generation since the Industrial Revolution.  That’s why it’s so important to make sure we have the right sort of connections in each area of our life.

To collaborate successfully, we need to get to know people first.  When people take time to discuss life beyond work they find commonalties and they start to feel closer together – more like friends.  In that sort of relationship, information flows faster and requests for help are more likely to be granted.

Those connections happen when we trust enough to disclose things about ourselves, and are confident that when we give our time and share our knowledge, we will receive the same from others in return.

• If you’d like to experience the collaborative flavour of LUMIN then discover about our inter-generational knowledge sharing community.