Think Tank Topic: Strategic Relationships

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May 15 2020 54 mins   1
ELITE : SIX Think Tank meetings are discussed over zoom with ELITE : SIX members, I facilitate them and they are recorded for our podcasts we've been doing this since COVID-19 if you're interested in joining in with us check out our website at EXPERIENCES Aligned valueDue diligenceLong-term valueComplementary offeringsBuild the strategic relationships with people you like, the synergies will follow.A problem halved is a problem solvedObjective viewsYou see things from a different perspective when there are other people involvedYou need to be on the same wavelength for it to workIf there are mutual benefits for both parties, a strategic relationship has huge benefits.You could trade with each otherPick and choose who aligns with youA number of times I have given to friends but they don't use the information you give to that a waste of your time?Let walk up clients know you have a booking system and you will make a booking to see them and put a fee on itPut a sign on your door and say Diagnostic Fee $50 PROBLEMS Can turn sourIf working with friends relationships can go badNot balanced. People take advantageOver promised and under-deliveredLack of prior due diligence shows up incompatibilitiesDon’t vote with your feet, sayTwo ears one mouthCorporate restructure upsetting the relationship SOLUTIONS Due diligenceDraw up a MOU/ContractBuild up rapport with clientsAlways be respectful and value open communicationWorking with companies that share the same valuesRegular contact - keep feeding the relationship“Know when to hold em . . . know when to fold em”Walk away gracefullyNever do handshake dealsListening and Understanding the needs TAKES AWAY Never do handshake dealsPut plans on paperGet feedback from the childrenUnderstand who you are dealing withDon't be afraid to look for new people who can help youGet feedback from the customers NEXT WEEKS TOPIC - RETAINING YOUR BUSINESS ENTHUSIASM