Strategic Relations Journal


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Brought to you by Justin Hitt, Strategic Relations Consultant. Thank you for reading.

Issue #56 -- October 28, 2002

A weekly journal about building stronger relationships in business.
Subscription information is available at the end of this newsletter. Thank you for reading.


A question often asked, ?How Well Do You Understand Business Relationships? This week's article will ask just that giving you a number elements to consider in your own relationships inside of business. I know you will learn something of value.

Any results with the ?farm club? ideas shared last week. Have you corralled up anything worth paying a little extra attention to in your business development? Farm clubs can be a great way to improve your business relationships.

Next week we will touch on the role of profitable customers for the effective business. Check the private subscriber?s area for more details about future articles. If there is anything you are interested in learning more about, drop me a note, I would be happy to oblige.

Sincerely,

Justin Hitt
Strategic Relations Consultant, Author & Speaker
http://www.iunctura.com/


How Well Do You Understand Business Relationships?

By Justin Hitt, Strategic Relations Consultant, https://iunctura.com/

There are number of things to understand about business relationships, primarily since they are the lubricant that keeps your business operating smoothly. While your products and services carry no inherent feelings, the way they are delivered and received contribute to the profits gained. Every relationship in your business matters, from the way your employee feels your company is treating them, to those same feelings from the customers prospective.

While the feelings of others are many times outside your control, understanding business relationships allows you to better shape those perceptions into a positive reflection of your organization. One-to-one relationships are simple to maintain, but as you add more individuals or groups things get more complex (not to mention when you want someone to part with their money as a result.) When you understand the relationships inside your business, you will be able to reduce friction inside your organization.

A simple definition of business relationships is the connections between groups, each with their own unique wants, needs, and desires (characteristics), which are brought together under some more general goal or guidelines. While there are too many types of business relationships to be listed here, it is simple to say, the better you understand the wants and desires of every group who interacts with your company, the better your company will be. Remember, it is not your wants and desires for them, but their own, as defined by the individual group.

Ask yourself these important questions:

You can develop other questions on your own, the key is how well do you know what influences the success of your company. While you do not need to know everything about everyone, you should have some idea of were to go for answers. Especially when those answers contribute to the essential decisions made in long-term planning for your organization.

While many software vendors have touted programs that can keep your �finger on the pulse of your business. Understanding business relationships is a lot more than software and analytical measurements. Software applications tend only to improve understanding once good process is in place. Software tools like Customer Relationship Management (CRM), Employee Resource Planning (ERP), and Partner Relationships Management (PRM) can enhance current best practices across the company, but if not properly implemented turn standardization into �rigid control. Stick to human machines to get started, use software only where it improves consistency on measurable processes.

Strangely enough, a greater understanding of business relationships contributes to your job satisfaction. An increase in satisfaction will come as you feel more in touch with the growth of your organization. You will experience less of a burden when it comes to daily decision making and you can focus more on the long-term growth of your company.

Take a few minutes to answer and think about the questions above. If this becomes a difficult exercise, perhaps you do not understand those relationships that contribute to your success as an executive. It only takes asking these questions of those who know the answers inside your organization to get you back on the right track.

Listen, learn, and enjoy your companies� success in business relationships.

© 2002 JWH Consolidated LLC dba Center for Strategic Relations, All rights reserved.
/ strategic-relations | relationship-realms /


Justin Hitt is a Washington-based Strategic Relations Consultant who helps business to business executives build stronger relationships in business that lead to more sales, increased profits, and greater satisfaction in business. Visit his website for more information, http://www.iunctura.com/


Questions & Answers

Ask your strategic relations questions for prompt answers to improve relationships in your business. Send your questions. A free service to subscribers of the Strategic Relations Journal -- questions-strategic-relationsat iunctura.com


Featuring

>> Asking questions of your people can be very powerful. Try this little exercise, wander around your department one day asking questions and listening for the answer. Ask open-ended opinion questions relevant to issues your business is facing, and then silently listen for ever detail. If your people do not answer right away, keep quite and wait expectantly. After they give you an answer, paraphrase it back to them, asking, ?Did I hear you correctly? They will be stunned and you will be amazed with the value of what people have to say. (Best of all, if they have a solution to a problem your company is facing, you can then ask, ?And, What resources do you need to put that into action right away??)


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© 2002 JWH Consolidated LLC dba Center for Strategic Relations, All rights reserved. Rights granted to forward, via electronic medium, this document in whole as long as the subscription and copyright portions remain intact. Dept HIP,PO Box 3123, Martinsville, VA 24115. http://www.iunctura.com/

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