The Power of Cross-Industry Collaboration for Entrepreneurs | Ep. 389

In This Article

• Why Collaboration Matters Now More Than Ever
• What is Cross-Industry Collaboration?
• Why Is Cross-Industry Collaboration So Powerful?
  • Benefit #1: Unlocking Fresh Perspectives and New Solutions
  • Benefit #2: Expanding Your Network and Opportunities
  • Benefit #3: Instant Credibility and More Joy in Business
  • Data Snapshot
• How Do You Start Building Cross-Industry Connections?
  • 1. Identify Your Transferable Skills
  • 2. Learn the Lingo and Pain Points
  • 3. Go Where Your Industry Doesn't
  • 4. Build Strategic Alliances
  • 5. Leverage LinkedIn and Supplier Engagement Pros
• Real-World Example: Financial Wellness Meets Employee Wellness
  • Making Business a Joy: Event Spotlight
  • Key Takeaways and Your Next Steps
• FAQs About Cross-Industry Collaboration
  • What is cross-industry collaboration?
  • How can I find relevant contacts in other industries?
  • How do I "speak the language" of a new industry?
  • Will I have credibility in a new industry?
  • Is it worth the effort?

Why Collaboration Matters Now More Than Ever

Let's be honest—being an entrepreneur can sometimes feel like living on a deserted island. Sure, you might have access to a few familiar faces and well-trodden paths, but after a while, it's easy to find yourself stuck in the loop of "doing business as usual." Ever wondered what would happen if youreallyDid you shake up your approach by looking outside your own industry for inspiration and support?

On a recent episode of Money Talk With Tiff, host Tiffany Grant sat down with Jasmine Beard, owner of AJoy Consulting, to unravel the life-changing impact of cross-industry collaboration. If you're ready toMove beyond the boundaries of what you knowand open your business to new ideas, clients, and solutions, keep reading. This blog post dives deep into the "what," "why," and "how" of collaborating across industry lines, packing in practical tips and real-world examples you can start using today.

What is Cross-Industry Collaboration?

Imagine you're building a house. If you only talk to other carpenters - in other words, people who hammer nails and saw wood - you'll get really good at making your structure sturdy. But what if you invited in an architect? An electrician? A landscaper? Suddenly, your house isn't just solid - it's beautiful, well-lit, and surrounded by blooming flowers.

That's the essence of cross-industry collaboration. As Jasmine Beard explains, it's all about leveraging your unique expertise, skills, and best practices... and then seeing how those translate to other industries. For example, she is a strategic consultant working across fields like healthcare, energy, and hospitality:

Let's say, for instance, I have a colleague who works in the energy sector. By gaining expertise in that particular sector, I can use some best practices from their knowledge base to leverage in another industry - say, healthcare - especially as they are working to be more sustainable.

It might sound complex, but really, it's just networking with intention. Think of it as having coffee with new friends outside your neighborhood, then realizing their perspectives can make your own backyard even better.

Why Is Cross-Industry Collaboration So Powerful?

Let's get practical: Why make the effort to look beyond your own industry? Because innovation often happenswhere disciplines collide.

Benefit #1: Unlocking Fresh Perspectives and New Solutions

When you learn about challenges and solutions from someone in a completely different field, you uncover possibilities you never would have thought of on your own. Jasmine shares,

We often span different industries... You can leverage benefits from their best practices or industry policies that will be beneficial in your own line of business, even if there aren't clear parallels.

In other words, what is routine in manufacturing might be revolutionary in healthcare. Isn't it time to find out what you're missing?

Benefit #2: Expanding Your Network and Opportunities

Sticking to conferences, networking events, and Facebook groups only within your field limits who you meet—and who meets you! By attending events outside your bubble, you're exposed to a wider range of people looking for the value only you can provide.

Benefit #3: Instant Credibility and More Joy in Business

Partnering or co-delivering with businesses from other industries allows you to tap into their credibility. Plus, as Jasmine puts it, "it's a joy doing business this way." Who doesn't want more joy and less hustle?

Data Snapshot

According to a Deloitte study, companies that prioritize external collaboration are twice as likely to be high-performing and innovative as those that do not. The cross-pollination of ideas is a documented driver of creativity and profit.

How Do You Start Building Cross-Industry Connections?

Feeling inspired, but not sure where or how to begin? Let's break it down into simple, actionable steps.

1. Identify Your Transferable Skills

Start by taking stock of what you're especially good at—project management, customer service, strategic planning, team building. These are often needed ineveryindustry. Jasmine notes,

Anyone who has a team of people or is managing people canleverage talent optimizationand self-awareness.”

The language might change—a patient in healthcare, a client in consulting, a customer in retail—but the underlying needs are the same.

2. Learn the Lingo and Pain Points

One of the quickest ways to connect across industries is to speak their language. As Tiffany observed,

It's like tweaking your cover letter for a job—it's important to adjust your case studies and use the terms and metrics that matter to your new audience.

If you want to work with manufacturing companies, learn about "service level agreements." Targeting healthcare? Use "patient satisfaction scores." This simple reframing builds instant trust.

3. Go Where Your Industry Doesn't

Break out of your typical conference routine. Attend events and join associations in areas you want to expand into—it could be a manufacturing summit, a healthcare roundtable, or a hospitality mixer.

"Once you make that first genuine connection, you start to learn what's important to them," says Jasmine.

4. Build Strategic Alliances

Find a partner—a consultant, a firm, or even an entrepreneur—who’s already established in your target industry. Offer to co-deliver on projects, or support each other by sharing knowledge and connections.

Jasmine's story is powerful:

I worked on a project with three other consultants, all in different areas. We decided to interview the client together, showing respect for their time and learning from each other in the process. The client was thrilled—we were collaborating, not competing.

5. Leverage LinkedIn and Supplier Engagement Pros

LinkedIn isn't just for job-hunting; it's a treasure trove of industry groups and conversations. Start by searching for supplier engagement professionals or recruiters in your target field—they know the pain points their organizations face and might see gaps where your skillset fits.

Real-World Example: Financial Wellness Meets Employee Wellness

Jasmine and Tiffany's collaborative story is a testament to the magic of cross-industry work.

A wellness company offered programs to improve employees' physical health but hadn't considered financial health until Tiffany shared her expertise. Together, they created a holistic offering - covering both body and wallet - that resonated more deeply with clients.

Imagine: What hidden opportunities couldyouuncover by joining forces with someone from an entirely different field?

Making Business a Joy: Event Spotlight

Jasmine's company, AJoy Consulting, is celebrating seven years with an event centered around this very idea - expanding opportunities by connecting entrepreneurs, corporate leaders, and creative minds from all sorts of industries. From Hollywood insiders to accessibility experts, guests will leave with actionable insights on how to broaden their horizons and build lasting partnerships.

If there's everIt has been a time to try somethingnew — to make your business not just prosperous, but fun and meaningful — this is it.

Register here:https://www.eventbrite.com/e/its-ajoy-doing-business-tickets-1447489683609?aff=MoneyTalkTiff

Key Takeaways and Your Next Steps

Ready to make a change? Here's how to put this into action:

• Make a list of your unique skills that apply to multiple industries.
• Attend one event this month in a field outside your own.
• Schedule a coffee chat with someone from a different industry - just to learn!
• Update your case studies and bio to highlight transferable value.
• Contact supplier engagement professionals on LinkedIn and ask about industry pain points.

Above all, remember this:Together, Everyone Achieves More.Collaboration—especially across boundaries—makes the journey richer, brighter, and a whole lot more joyful.

Now go out there and make some new friends. Your next big idea (and partnership) might be waiting just outside your comfort zone!

FAQs About Cross-Industry Collaboration

What is cross-industry collaboration?

It's the practice of working with professionals or organizations outside your typical field, using your unique knowledge and skills to tackle challenges together or learn from each other.

How can I find relevant contacts in other industries?

Attend industry-specific conferences outside your field

Network on LinkedIn with supplier engagement professionals and recruiters

Ask for referrals from your current network

Join cross-industry panels, webinars, and events

How do I "speak the language" of a new industry?

Research common terminology and key challenges

Adjust your case studies to highlight relevant skills and metrics

Have informational interviews with professionals in that industry

Will I have credibility in a new industry?

By teaming up with established players, co-delivering, or showcasing tailored success stories, you can build instant credibility. Don't be afraid to show what istransferableabout your experience.

Is it worth the effort?

Absolutely! Cross-industry collaboration has been proven to spark innovation, expand networks, and uncover business opportunities you may never find otherwise.