Turning Business Relationships Into Profits
Home   Join Now   About Membership Program   Membership Benefits   Frequently Asked Questions

Building Business Relationships

Are you struggling to create and keep profitable customers? Columns for Sales and Marketing Management who wants to build business relationships.
Wednesday, October 29, 2003

Internal Bickering Only Wastes Resources

It's a wonder anything gets done in business today, often staff get worn out with internal issues before they even reach revenue producing tasks (such as serving customers.)  How often do you see problems where there shouldn't be any?  Here is a quick list of many of the internal relationship problems that waste time and resources in your organization.

  1. Employees tired of politics are cynical with customers causing customers not to return or second guess your value to them.
  2. Great resources quietly leave because they feel under-appreciated causing higher costs for retention and human resources efforts.
  3. Hours are added to processes that don't produce revenue, all for simple misunderstandings that could have been eliminated with better communications.
  4. Cutting corners causes millions of dollars worth of product defects, even deaths, because workers were measured on quantity instead of quality produced.
  5. Political end fighting blocks the flow of critical information, even encourages holding back facts necessary for the success of other departments, all limiting the companies profit potential.
  6. A department manager somewhere inflates revenue for personal gain, only to have the company audited and become front page news for an accounting scandal; if this wasn't enough, you discover it common practice throughout the company.
  7. Employees work hard enough not to get fired because their bosses feel it is better to punish discretions rather than reward desirable behavior.

If you are spinning your wheels or not accomplishing half of what you expect you should, then it is possible relationship skills inside your company need improving. A few hours of soft-skills training coupled with the tuning of performance measures can significantly eliminate these stumbling blocks. What would improvements in any of these areas mean to your bottom line?

/ applying-strategy | "management-strategy" /

Justin Hitt helps executives build profitable relationships with customer, employees, and strategic partners. He can be reached by phone at +1 (276) 254-8747 or on-line at https://iunctura.com/

12:52:03 PM  Join Newsletter

Maps Encourage Boldness And Make Anything Seem Possible

Mark Jenkins. "Maps encourage boldness. They're like cryptic love letters. They make anything seem possible." [Motivational Quotes of the Day]

What does Mark Jenkins the author adventure travel book The Hard Way know about business strategy?  Probably very little, but as a travel writer he knows the importance of a good plan, accurate maps, and clear objectives. How else would he reach every corner of the world and live to write about it?

If your organization wants to produce sustainable profits, you must learn from this adventurer and do the same:

  1. Develop a clear plan. A plan is a method for achieving an end which describes where you want to go, and when you want to be there. If you expect others to follow you, they must know what you will do first, second, ..., and last to reach a certain point. They must also know where they contribute to the plan. Once you have a plan, you'll know what maps you'll need to guide your journey.
  2. Create accurate maps. Maps describe something through a series of measures that can be oriented by physical landmarks to navigate from one point to another. By creating a baseline of current performance measures, you'll be able to determine how far you've come with you're current plans and where adjustments are necessary to stay on track. Accurate maps can be passed along so others can make the same journey toward similar objectives.
  3. Observe clear objectives. You'll never know you've been there unless you decide where you want to go. Objectives are detailed descriptions of where you would like to be in the future, the result of your actions today. Develop objectives as a team with input from all levels of your organization (and from your buying customers who will benefit from the output you produce.)  In the beginning your objectives won't be clear, but a general direction is better than no direction at all.

These steps form a self-correcting loop (plan -> map -> observe -> [...]), you don't have to start with great intensity because as you repeat the process you create additional detail. For example, if you live in South Africa and want to visit Spain, you know your journey will take you North, and you may need maps of the African and European continent. Introduce a desired arrival date and you will observe a land-route may take too long, so you now use flight schedules for your map.

A great map for corporate adventures is a map that forecasts your desired income against profits for the next five years. Share this map with decision makers in your company, inspire bold actions by asking "How can we do this?"  If you treat your business like a journey, your people will stand with you as you lead. Where are you going, and how are you going to get there?

/ "business-strategy" | "magic-one" /

Justin Hitt, with over 10 years of experience in business to business executive relationships and strategic business intelligence; has reduced costs and improve customer loyalty for professional services and numerous other technology companies. Call +1 (276) 254-8747 or visit his website at https://iunctura.com/

12:27:27 PM  Join Newsletter

Last update: 05/25/2004; 1:19:33 PM.

Home | Join Now | About Membership Program | Membership Benefits | Frequently Asked Questions | Glossary of Terms | Subject Index | Editorial Calendar | About the Center for Strategic Relations | Contact us
Center for Strategic Relations, Dept IUN,
1123 Spruce St #3123, Martinsville, VA 24115-3123

24-Hour Phone/Fax Hotline: +1 (276) 254-8747

© 2001-2023 JWH Consolidated LLC dba Center for Strategic Relations, All rights reserved. Privacy Policy. Sitemap.