It takes a village to grow your company and thrive.

When you are just starting out during the first few years of a new business operation, it may be instinctive to keep your head down and focus on how to thrive in your day-to-day workflow procedures and how to deliver customer satisfaction first and foremost.

However, it’s also just as important to engage in strategic partnerships and collaborations that can impact your company’s growth potential. The end game is learning to work smarter, not harder. Leading experts from Fast Company Executive Board experienced positive results when they took advantage of untapped opportunities that moved their businesses forward. Below, they share 13 reasons why business leaders should keep an open mind to exploring new partnerships that may be a good fit right now.

1. IT CREATES A LASTING AND COMMITTED PARTNERSHIP FOR MUTUAL SUCCESS.

I like to approach each new business opportunity with a mindset of, “What can I do to help?” I find that this allows me to learn about the goals my contacts or clients are trying to achieve and how we can align to work together.  When you collaborate in the spirit of truly trying to benefit each other, lasting partnerships are formed that are committed to growing mutual success. – Megan Teates, Affinity Group

Strategic partnerships and collaborations significantly impacted our small business growth by providing access to new markets and resources—especially during the early stages of COVID-19. These alliances enabled us to leverage the expertise and networks of larger organizations to win new business. I encourage leaders to keep an open mind to new opportunities as they can foster long-term success. – Leigh Dow, BlackCloak

3. IT ENABLES NATIONAL BRAND AWARENESS AND SOCIAL ENGAGEMENT.

My mantra is “collaboration, not competition.” In the nonprofit world, we understand that success comes in the form of partnerships, and that innovation happens when we stop operating in silos and work together for real outcomes. Our strategic partnerships have allowed us to create national brand awareness while expanding our mission and engaging our partners, employees, and stakeholders—a win-win for all. – Ashley Sharp, Dwell with Dignity