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Keeping a Partnership ALIVE and THRIVING
What are the best methods for keeping a good business relationship?
Once you have a business relationship in place, you need to work on that relationship to keep it intact. As a matter of fact, people nurture their business relationships more than they do their families! The first and most obvious method is to follow up with questions and requests in a timely manner. This rapid response to queries does more for the relationship than sending out regular information. Customers or business partners are really impressed with response rates.
Can you imagine asking a person in a retail store a question about the product you are about to purchase and they say they will get back to you in a minute but actually finish their phone call, chat with a few others in the store and then start another project before getting around to the answer. It is likely you would walk out on such a situation. The same is true when forming solid relationships with customers and partners. The sooner you respond, the more it is likely that they will want to do business with you.
Likewise, the partner will need to nurture the relationship. Relationships are two-way streets. You cannot always give the information and solve the problems; there must be something in return for you. Usually this is in the form of sales or introduction to other potential business relationships.
There is a fine line between nurturing a business relationship and letting the partner see what is in it for them. The difference is often difficult to discern, but when you discover where it lies, the business relationship will grow even further.
What's in it for Them?
How do you make sure your alliance partner is satisfied?
Do not forget that a partner or alliance may only interested in what is in it for them. They may see you as a cash cow or they may see you as an opportunity to further their current business. Whatever the reason, they are likely to look at the alliance from their own perspective and will likely want to make sure that they have a real winner on their side. This doesn't mean that you have to lose; it simply means that you have to be aware of what motivates them into becoming an alliance partner. You will also need to be aware that they will not be motivated to help you in your business unless you are motivated to help them in theirs.
Bette Daoust, Ph.D. has been networking with others since leaving high school years ago. Realizing that no one really cared about what she did in life unless she had someone to tell and excite. She decided to find the best ways to get people's attention, be creative in how she presented herself and products, getting people to know who she was, and being visible all the time. Her friends and colleagues have often dubbed her the "Networking Queen". Blueprint for Networking Success: 150 ways to promote yourself is the first in this series. Blueprint for Branding Yourself: Another 150 ways to promote yourself is planned for release in 2005. For more information visit http://www.BlueprintBooks.com
Fundation Advances Small Business Education Agenda With Release of “Simple Interest Loan Calculator”
Small Business Economy Continues To Grow Modestly
Creditera Demystifies Small Business Credit
SurePayroll Small Business Scorecard(R): Optimism, Profitability Soar
My Small Biz: Science and art make a candle masterpiece - Press of Atlantic City
Ins. Hike to Hit Small Biz Hard - Go By Truck News
Small Biz 101: What is Health Insurance? - Clarifying Health (blog)
Rugby independents gear up for Small Business Saturday
Importance of integrating social media, small business
Do You Want Your Own Fully Programmable ERP? - Part 2
In the first article we mentioned the main characteristics that should have a software to be used as a Front-End with some functions of an Enterprise Resources Planning ERP:ODBC,Replication,Computed Views,Integrated e-Mail,and we used the Lotus Notes example, but in principle will be possible to use other softwares with similar functions.Now we will see a practical case, a system to detect and control - marketing, sales, new purchase orders - your aground products.
Recognizing Employees' Contributions Can Go a Long Way
Every employee would like to earn as high a salary as they can at their job but surprisingly it's not the number one motivating factor for them in the workplace. Human resource surveys indicate that wages are not even among the top five motivating factors for an employee.
Five Break-through Ideas to Immediately Increase Profits and Improve Cash Flow
Too often in business we get trapped into reviewing our sales numbers without analyzing the all important "profit" number. This is commonly referred to as the "bottom-line" of a business.
Franchising Pros and Cons
Last week's question from Anthony R. on how to choose the franchise that would best fulfill his life-long dream of owning his own business sparked a number of emails from other readers wanting to offer their two cents on the subject.
Alter the behavior of sales prospects in a positive way
We're birds of a feather, public relations and small business. Wonderfully compatible and a perfect fit.
Dynamics of Daylight Savings Time on Service Businesses in the United States
The Dynamics of Daylight Savings Time changes the way we live and do business. What are the true dynamics of daylight Savings.
FTC Report on Franchise Rule Making; What Purpose?
The Federal Trade Commission out of the blue decide in November of 2004 that they wanted to revamp the franchise and business opportunity rule; specifically addressing franchising. Now then, why now? To prove to the masses that the Federal Trade Commission is in control? After all it is nearly 10 years after the Federal Trade Commission considered revising the rule, before this report has surfaced again.
Marketing - The Way To Make What Youre Really Worth
You only have so much time in a day right?So wouldn't it make sense to focus as much of your time as possible on the things that produce the highest payoff.I don't know about you but most small business owners are do-it-yourself types and get sucked into doing the littlest silly work faster than you can say "Oh look, the copier is jammed again.
14 big reasons you need a logo and identity system for your business
Experts urge small business owners to "brand" their business - to use a logo and a set of consistent marketing materials. But, they rarely go into the reasons behind this advice.
Lubbock TX Good Market for a Service Business
We very much like what we see in Lubbock, TX as a good place for a service business. The city is a very well designed and laid out town with growth in the 4-5% per year range, growth in the Northwest quadrant of the city is steady and good.
Youll See It When You Believe It - Growing Your Business from the Inside Out
What unspoken message are you sending your clients and customers? Is your personal energy field projecting positive, high vibrational energy or just the opposite? The latter will cost you business--and worse, you won't even realize it. The energy I'm talking about here has been called many things, "being in flow," "in the zone," "locked on", "jazzed", "sending out good vibes," (that last one is for anyone old enough to remember the 60's).
Top 10 Lessons for Small Business Success - As learned From My Twin 3 Year Olds
Small business success is very similar to learning to walk, talk and spell. The basics have to be understood before moving on to the next step.
How to Increase the Cash Flow in Your Private Practice in 30 Days
If you have a busy private practice, chances are you also have pockets of cash lying around available for the plucking. It simply hasn't been collected yet, and may even have been overlooked.
Small Businesses - Big Obstacles
Everyone is talking about small businesses. In 1993, when it was allowed, more than 90,000 new firms were registered by individuals.
Small Business Marketing Series - Choosing a Niche Market
Many smaller businesses choose niche markets for various reasons and these niche markets can be very lucrative. This article will look at ways to identify and assess whether they are right for your business?For many smaller businesses it is important to have a focused strategy which enables them to operate in a small part of a chosen market with great success.
Due Dilegence 101 Or What You Do Not Know Can Kill You! - Part 1
Introduction: This article is written as a general discussion on the subject of "Due Diligence". It is for informational purposes and not intended to be a definitive guideline for your exact situation.
How to Manage Your Pipeline
How is your pipeline structured?I assume most of you have heard about the sales pipeline. Your pipeline is what keeps your business going.
Passion Is Key To A Successful Business
Passion. Passion alone can make your business successful.
Money Series 1: Who Takes Your Money
Your business is making profits, but where is the cash? It seems that someone has taken away your money. Your bank account is still the same, and your personal wealth is still the same.
Protecting your small business network
Anyone in business today realizes both the natural dependency on computers in the workplace, and also the potential dangers associated with storing important data on them. Today's business owners are constantly being reminded that their company's data is at risk by the daily reports on various news stations, or even their favorite business-related website.
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