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There’s no question that we’re living in uncertain, anxiety-ridden times, especially if you’re an entrepreneur whose business has come to a screeching halt since the country was told to stay home starting in mid-March. We’re being faced with unprecedented pressure to pivot, innovate, and get wildly creative to keep our businesses afloat, yet we’re housebound and unable to be out in the world doing business as usual.

So what’s an entrepreneur to do? Collaborate like your business depends on it (because it just might.)

Collaboration has always been an incredible way to achieve your business goals, whether that includes growing your email list and social following, gaining credibility as a thought leader in your space, or collaborating with another brand on a product or service offering. It’s been entirely through collaboration and partnerships that I’ve grown my own business, and I’ve taught dozens of other entrepreneurs how to do the same. But now, more than ever, adopting a collaboration strategy is crucial to staying in front of your potential audience and continuing to bring in revenue.

Here are three ways you can leverage collaboration to help your business survive this indefinite period of social distancing.

1. Do More With Less

Even if you haven’t seen your revenue slow or stop, there’s definitely a lingering feeling of uneasiness floating around about if and when that will happen. With a recession looming, now is the perfect time to take a “do more with less” approach to your marketing. By combining your resources, energy, and time with a like-minded individual or brand, you’ll be able to do exactly that.

Most of the collaborations I help my clients create are barter-based, meaning no money is exchanged between partners. That’s good news for entrepreneurs who weren’t working with a lot of marketing dollars to begin with, but it’s even better news for entrepreneurs who have had to reallocate their budget to other areas of the business in the last few weeks.

When you collaborate with another individual or brand, you’re able to tap into their reach, resources, content, and community, and vice-versa. If you and your partner decide to run a co-produced webinar and promote it to each of your audiences, your combined reach becomes much greater than each of yours alone. On the flip side, when you both contribute to a collaboration, the effort required to run it is the same or less than it would be if you were to do it alone. Greater reach + less effort = collaboration at its finest.

2. Amplify Each Other’s Voices

If I had a dollar for every free downloadable or webinar that’s been promoted to me in the last week alone, I wouldn’t be worried about a recession. Our normal platforms for promotion have gotten exhaustingly loud, which makes cutting through that noise increasingly difficult. When you collaborate, you and your partner are able to amplify one another’s voices and share the same message to multiple audiences, which is a heck of a lot more powerful than two individual voices screaming with multiple offers to the same target market.

Going back to the co-produced webinar example, when you choose to combine yours and your partner’s knowledge and expertise into one webinar as opposed to you each creating and running your own, you increase the likelihood that people will actually sign up. Instead of each of you promoting your own individual webinars, you can both promote one. One message, one call to action, one amplified voice speaking over the many other voices yelling into the feed.

3. Innovate and Collaborate

One potential bright spot in an otherwise dark time is that by the end of this (whenever that may be) I have no doubt that some amazing new products, services, and companies will emerge. When your back is against the wall, sometimes the only escape is through innovation and some serious creative thinking. Often the best solutions to life’s challenges come from people joining forces and working together in a collaborative effort. Or, as I like to say, “My This + Your That = Our Magic.”

The best way to initiate the innovation through the collaboration process is to think about all of the people in your community who offer a product or service that’s complementary to yours and choose one or two who you’d feel comfortable brainstorming ideas with. Reach out and see if they’re open to putting your heads together to find ways to make one another’s offerings that much better.

By bringing in a different set of eyeballs, you’re able to see your business from a fresh perspective. When you look at your business as a whole, are there areas where you feel like you might be able to expand your thinking and try a new approach? If you’ve been offering the same services for a while, perhaps now is the perfect time to shake everything out on the table and pick up only the pieces that feel relevant going forward. In addition to each of you expanding your individual businesses, you might find ways to combine your offerings together to co-create something new that will serve both of your audiences.

Even though “social distancing” looks to be our new reality for the foreseeable future, that doesn’t mean we can’t connect and collaborate with our community. Now, more than ever, we must band together with those around us to help keep each other going. It will be through collaboration that we’re able to rise to the challenge and find new ways to do business and - hopefully - survive this tumultuous time.

It’s together that we’ll get through this and emerge stronger and more capable than before.

About the Expert: Baily Hancock is a collaboration consultant, speaker, and the host of the “Stop, Collaborate & Listen” Podcast who’s on a mission to save humanity with collaboration. Join the Collaboration Coalition Facebook Group to find potential partners and receive Baily’s collaboration templates, tools, and tips.