I read a business book once that said (paraphrasing) that increasingly in the 21st century, rather than competing against each other to see who can climb the wall of success first, businesses will join hands and scale the wall together (I apologize for omitting the reference, but now that I’m AARP eligible as of last week, I suppose instances of memory loss will become more frequent). The metaphor essentially emphasizes the importance of collaboration in our economy, for a number of reasons – ease of purchase from the customer’s perspective when multiple businesses offer a wider array of services, project teams with a broader perspective generating ideas, greater geographic reach, cross-training, etc.
Perhaps the greatest advantage of collaboration is the ability to reach out to new customers by sharing customer and contact lists. The introduction to new customers through your business collaborators brings a sense of credibility.
Take the case of Tony Bennett and Lady Gaga.
The duo’s collaborative effort, the recently released Cheek to Cheek album has hit No. 1 on the Billboard charts. According to USA Today, the joint jazz album sold 131,000 copies in the week ending Sept. 28 (Nielsen SoundScan), making Bennett, 88, the oldest living act to earn a No. 1 album.
Lady Gaga’s youthful fan base and her pop success might have given older generations pause when she crossed over to jazz standards, categorizing her as simply the next passing trend in the pop world. But Bennett’s seal of approval provides a reason for mature fans to take a closer look and listen with an objective ear. Conquering different genres can be a key to longevity for many in the music industry (Elvis Costello, Christina Aguilera, Elvis, Sting, Pat Benatar, to name a few).
Likewise, Lady Gaga’s participation brings a continued sense of “hipness” to jazz standards, and exposes Tony to a new generation of potential fans.
Have you thought about collaborative partners for your business or artistic endeavor?