What is best in threes? You probably don’t think of collaborations - but - then, maybe you should rethink that. In this episode of Capability Amplifier, we dive deep into the secret sauce of collaboration, why three is better than two, and how it could lead to massive wealth.
Dan Sullivan drops some serious knowledge about what it takes to create game-changing collaborations in today's networked economy. We're talking entrepreneur-to-entrepreneur collabs that could unlock TRILLIONS in value.
Key highlights:
• Why collaboration is the new competitive advantage
• The 3 non-negotiables for killer collaborations (hint: cash confidence is key!)
• How to create a "Free Zone" where innovation thrives
• Why 3-way collaborations beat 2-way every time
• Leveraging AI to supercharge your creative process
Here are the quick 10 Steps to a Profitable Collaboration. Learn more in the podcast:
1. Only collaborate with other entrepreneurs
2. Collaborate with entrepreneurs who are cash confident
3. Collaborate with those who don’t require a short-term payoff
4. Collaborators need to sell to the same end user/customer/client
5. The end user (customer) pays for the creativity
6. Three is the magic number in collaboration; it’s double the thrill, no competition, and it keeps everyone honest
7. Use Ai to Accelerate the outcome, increase efficiency, and advance the presentation
8. Experiential Iteration: a willingness to pivot, progress, reinvent, and move forward
9. Cash Care Free: partners should be abundance-minded and not stress about the investment or return
10. Must Be a Growth Minded Entrepreneur with no endpoint in sight, no retirement; they are in it to be in it and grow
Plus, Dan reveals his audacious goal to build a $15 TRILLION economy within Strategic Coach by his 100th birthday. The future of entrepreneurship is collaborative.
Timestamps in Essential Quotes
History of the Word 'Collaboration: “Meaning, because if you're a World War Two movie buff, in the second World War, collaboration is what got you shot. What it meant was that you were you. You were collaborating with the enemy, and that got you shot."
— Dan Sullivan [00:01:47 → 00:02:04]
The Shift to a Network Economy: "So my sense is that it's the change in the structure of the economy that has put collaboration into one, a more positive light. But the other thing is, it's now possible to put capabilities together electronically in a way that you could never do in, you know, where you were separated by distance and somebody was talented in Cleveland, another person was talented in Chicago, but they couldn't really collaborate. Now they can."
— Dan Sullivan [00:03:08 → 00:03:39]
The Essence of Cash Confidence in Entrepreneurship: "Cash confidence means that they don't need the money right away. If they're going to create something new, they know how to make money their own way, they know how to make money. They have lots of money."
— Dan Sullivan [00:06:32 → 00:06:43]
The Essence of Collaboration: "So what we're doing is we're taking a capability here that you have and a capability here that I have. We're putting them together to create a new third thing. So the fourth box is you're creating a new third thing that you couldn't have created without my capability. I couldn't have created it without your capability. And we're creating it for what I call a hero target. We want to be a hero to a person."
— Dan Sullivan [00:09:39 → 00:10:07]
Crowdsourced Creativity: "We're going to create something brand new for you. It's never been created before. It's directly related to what we know about what you need. And the two of us are getting together and we would like you to tell us whether we're on cue or off cue as we're doing this."
— Dan Sullivan [00:13:44 → 00:14:03]
The Power of Three: "It's very interesting, and I've discovered that recently that three just works better. There's easily double the thrill when you add another person to the original idea."
— Dan Sullivan [00:17:29 → 00:17:37]
Free Zone Collaboration: "When you are, the moment you create a collaboration like this, you're in the free zone. Nobody from the outside can comprehend what you're doing or thinking about."
— Dan Sullivan [00:18:50 → 00:19:00]
Speed and Innovation in Business: "The ability that you can to package a new idea and put it into presentation form is unmatched right now."
— Dan Sullivan [00:21:17 → 00:21:26]
The Future of Free Zone Collaboration: "By 2044, when I'm 100, if we just grow naturally the way coach has been growing for the last 35 years, we'll have 10,000 in the program and by that time the entire program will be the free zone program."
— Dan Sullivan [00:22:18 → 00:22:37]
Lessons from Collaboration Failures: "You go through a lot of eggs before you get a really good omelet."
— Dan Sullivan [00:25:09 → 00:25:12]
Additional Resources
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