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Sub Headline: Mutually Beneficial Partnerships Are Aligned in Revenue Generation
Synopsis: Building “long term” business relationships doesn’t just happen. Creating them requires dedication, acknowledgement and consistent work. Watch Why Long-Term Relationships are Key to Profitability, part 1 in the series The 12 Step Process to Building Long Term Relationships with Bob Lochard, chief marketing officer at Gordon Marketing, interviewed by talk show host, syndicated financial columnist and popular platform speaker, Steve Savant.
Content: No one wants to spend sweat equity with people who never sweat and have no ‘skin in the game’. If you’ve been around the block more than once, you know you’ve wasted time and treasure on lesser things. So as a promise to myself and you as well, let’s partner with people who are aligned with our goals. Many partnerships suffer from misalignment. They just don’t mesh. They don’t complement each other. It’s best to recognize it, cut your losses and move on.
Successful businesses know their core competencies and market to them. They create a value proposition around them and design a menu of services to develop an inter-dependency with their target audience. If the services or “deliverables” are viewed as a significant benefit to your target audience, it will create a reliance upon you for support, and direction.
To be effective and profitable, you will need to strike a balance between spending time and treasure on “givers and not takers”. You only have so much time, resources and money, so choose wisely and keep the phrase “mutually beneficial” at the forefront of your mind. If it’s not mutual, It’s over right then and there.
Our business, and possibly our personal health, are at a greater risk of failing if we surround ourselves with “energy wasters rather than energy generators.” The universe seems to like the balanced approach of spending and taking energy equitably. When both parties can take it to the bank, when both parties’ handshakes are more powerful than a written contract, then it works. Contracts then become documents that consummate, not regulate relationships. Good business relationships may start as a trickle in the beginning, but over time they become an income stream that turns into a major tributary of cash flow. The cost of acquiring those future dollars will be insignificant because you spent the research and development costs that insure you with the players and not the pretenders, the givers not the takers and the energy generators not the energy wasters.
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