Collaboration, pass it on
I know what you’re thinking about today’s headline – it sounds an awful lot like one of those “The more you know” public service announcements you see on television.
Yes, most of us learned about the benefits of collaborative relationships in kindergarten, but how often do we pause and take a moment to appreciate those relationships in the business world? In today’s economy, it’s more important than ever to do just that.
With examples abound, I’d like to shine the spotlight on a pair of local companies utilizing a collaborative relationship to make business grow: REDpoint International and Treske Precision Machining.
REDpoint, a Vancouver-based medical company, is growing not because of stimulus funds or tax incentives, but through the support of Treske, a Sherwood manufacturing company.
REDpoint, a small Vancouver-based medical company, has a wheelchair tilting device called the “Versatilt.” In its first year of marketing, the company received orders throughout the nation. But for a small business, large products like the Versatilt can be difficult to produce and carry.
That’s where Treske, a Sherwood manufacturing company, stepped in.
Treske agreed to accept REDpoint's purchase orders, to manufacture and ship the product and to allow for a delay in payment from the medical company.
It is through such collaborative relationships that small businesses can offer innovative products without significant capital outlays.
“If we take on the cost of doing all the other things, it ties up our capital and makes our growth a much slower process,” said Chuck Nokes, CEO of REDpoint. “It [the relationship with Treske] allows us to use our capital more wisely and benefits Treske because they have a new customer base.”
Nokes said the collaboration his company receives isn’t just in manufacturing; it’s also in community support.
“In this day and age, for a company to really succeed it needs the business community at large to provide mentoring and support,” he said. “I’m very thankful that we have that here in the local community.”
So keep REDpoint in mind the next time you’re faced with the opportunity to form a collaborative relationship. The benefits can stretch from your own business, to the entire community.
And that’s the more you know.
