Collaboration and innovation in business

9 Mar

Recently while recording a podcast conversation with Tom Dawkins, about collaboration, the theme of the Your Time Matters (Australia) event on the 29th March, our founder, Kerryn Powell, picked a YTM conversation starter card and asked him "Who are three people you'd like to have dinner with?"

He took a moment and then shared that his instinct was to think of close friends that he hadn't seen in ages.

However, he said "My top three right now would definitely include my sister who moved to new Zealand just before the pandemic. I haven't seen her in person for a couple of years now. I miss her terribly. Barack Obama I think would be a really good conversationalist, so let's bring him along and maybe Jacqueline Novogratz, who is one of the great pioneers and leaders in the impact business and social enterprise space and is the founder of Acumen Fund, who have been really innovative in the way in which they have invested in and supported social enterprise around the world. “

Open questions open up new conversation

It's always interesting to talk with others and questions can regularly open up an entirely new conversation.

“What is collaboration? “

At the event in March we will be talking about your definition of collaboration and the differences between, partnerships, referrals and collaborations.

“The Oxford dictionary defines collaboration as a noun. The act of working with another personal group to create or produce something

While the Cambridge dictionary defines “collaborate” as a verb to work with someone else for a special purpose, such as two writers, collaborated on the script for a film … “

I asked Tom on the podcast to share his definition

“I definitely resonate with that second difference, I think collaboration is doing, it's not something that can happen passively and indeed my definition of collaboration is something that has unpredictability. I think if you can predict what's going to happen, you're talking about a partnership.”

He went on to say

“In some ways collaboration is a genre of partnership, but it's a genre that involves risk and exploration, to me it is where you're figuring something out together. So that example of two writers collaborating the script is perfect because presumably they don't know exactly what's going to happen. They haven't decided up front. You know, your writing chapters 246 and eight and I'm writing all the odd numbered chapters, they have to figure that out. And of course, there are risks in the creative process. They might not arrive at a place that they both want to get to”.

At YTM we have an event format called “Collaborate and connect” where we encourage entrepreneurs, business leaders and changemakers to discuss how they could create something special together.

To the Team at YTM, a collaboration is different to a partnership where there may be a written understanding of the exact parts each will play . A collaboration can be more unknown and the outcome is not always clear but the goal can be similar.

For example, when we invite people to present an insight at YTM, we see that as a collaboration. Both parties are wanting to add value and grow their businesses. The goals may be slightly different, but we believe that a successful collaboration relies on a relationship having been formed. And creating a win-win-win situation.

Tom talked about and will share his experience where he has found,

“ Many collaborations form because there are quite specific, significant things in common, and an interest in similar things. “

As an example, Tom shared a story to illustrate a collaboration focused on homelessness. Bringing together a property developer, a builder, a construction company and an architect could create an excellent outcome.

They may all have their own reasons for coming together, with somewhat different motivations, but the end result could be more affordable housing for vulnerable people. Each person may achieve their goal, for example the developer may make money along the way, but hopefully if everyone’s individual goals are reached, the group may will do a similar project again.

Have you been involved in a successful collaboration? We would love you to join the conversation about:

· What is collaboration?

· How and why collaborations are beneficial

· Stories of collaboration

· How to identify opportunities

· Traps to avoid

· Difference between collaboration, referral and partnerships

· and, how collaboration can be used effectively in your business.

One of Tom’s insights from our podcast conversation that is definitely worth pondering –

“ … to create a better world, we really need breakthroughs along the way and that requires innovation and innovation is literally things that we don't yet know whether they will work . and are just an idea and we talk about if it's even possible. It may be that it probably won't work, but could it work? What would be the necessary conditions for it?”

So are there differences between collaboration, partnerships and referrals?

How does innovation fit in?

We look forward to the conversation, on 29th March, and invite you to join us, or respond in the comments below, or by return email.