June 25, 2020
Relationships are a critical part of results
This week we look at all the relationships which contribute to the success of your business.
It seems pretty straight forward but when was the last time you really looked at all of the critical relationships which contribute to your business success? This past pandemic brought to light some of the relationships you might just have taken for granted. For example, you might have thought you have a great relationship with your banker until the events of having to reach out to them to gain access to the Cares Act Payroll Protection Program. Maybe you were received with open arms or just maybe you got the brush off and needed to go looking for a new banking relationship. I know of at least one banking institution which capitalized on this sequence of broken banking relationships to add many new accounts to there banking relationship list.
As business picks up and your typical transitions start taking on a new flow, take some time to identify what relationships will be key to your results going forward. In the graphic this week, from our Promise Culture framework model, we can look at the circles surrounding the Purpose, Promises and Core Values to pinpoint the relationships and the dynamics of the interactions of those relationships. We can see that all of our relationships involve people. Some are very close to us such as family and friends. Others include employees, customers, and vendors. When we interact with these various relationships we need to consider the nature and style of our communincation. Are we understanding and appreciative to their needs and are they mutually respectful toward us? We need to approach each of these engagement’s from a leadership perspective keeping our Purpose and Core Values top of mind.
These relationships can seem overly normal, even casual so we don’t put much time or energy in nurturing them on a conscious basis. We fall on technology to be our interaction tool thinking that an email, a social media blast or a voicemail solves all the relationship needs. Unfortunately, these are very good and important tools, but a relationship is based on more than reaching out via technology. A relationship with an employee includes meeting mutual expectations. Do you know what your employees expect of you and your business? You define a role description, but many I read do not articulate expectations successfully. They are lists of tasks which are to be done but with out expectation or guidance of how they contribute or provide contribution to end results. A relationship with a customer also has its challenges; you set an expectation of a deliverable and then it shows up late. They in turn don’t pay on time and the relationship sours over time.
I’m not saying that mistakes don’t happen. They happen to all of us. The key is how do you respond to the relationship. Is the relationship important enough to take the necessary steps to correct it immediately or is tomorrow soon enough? Do you even know the downstream effects of your decision on that issue? This is where leadership and communincation needs to take center stage to address the situation.
This week take some time to look at all of your relationships. Each has its own unique needs, demands and mutual respect to nurture into a mutually beneficial relationship for both parties. Figure out which of the relationships you have need fixing or replacing. Build upon those relationships already working and make them even better. You can’t go wrong having too many great relationships.
At JKL Associates – our Purpose is “To build relationships rooted in Purpose so authentic contribution delivers promises!”
Call JKL Associates at (313) 527-7945 in Michigan or (407) 984-7246 in Florida to learn more about “Promise Culture” and what it can do for your business growth.