Lesson One
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Lesson One
A collaboration is the joint efforts of two brands, attempting to gain benefit from an idea of working together. So, long story short – Sasko Sam teaming up with Parmalat cheese to make you a Sandwich!
So how does this relate to you and your Side Hustle? Well, there will be many limitations to what you can do by yourself, and not every problem or opportunity can be solved with money. This allows for a Collaboration to create a unique customer experience that not only helps you, but also a fellow entrepreneur in South Africa.
So, lets look into the options you have to create a Collab!
First thing is first, any Collaboration needs to have a real benefit for both sides of the table. You need to always ensure you are getting something of value to your business through the collaboration. This could be in the form of increased advertising, brand popularity, creative exchange, increase in sales and many other valuable objectives.
The cost of these benefits are what you are required to put into the partnership. This could be an expense you have to cover, time spent on creating the offering, merchandise, and anything else that you are committing from your side to make the collaboration possible.
Aim for a Collaboration that doesn’t cost you any real money. This reduces the risk of a bad collaboration and only wastes your time and efforts.
You can start a collaboration at any point in your Side Hustle journey, but you need to have your value created first. So, make sure you have finished your product/service completely, and ready to be sold to customers before you join a Collab!
Once you have your value ready to be used, then you can start looking for partners in crime. The more popular and valuable your Side Hustle becomes, the easier it is to attract potential partners – But you can always start somewhere.
A great place to start looking is with other brands and individuals that your like and admire. These will most likely have similar values, target markets and a style that will help promote your brand.
How many brands do you need to start a Collaboration?
