Partnerships

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“The ultimate measure of a man is not where he stands in moments of comfort and convenience, but where hestands at times of challengeand controversy.”

Martin Luther King Jr. (1929–1968)

American civil rights leader

Nobel Peace Prize winner'

If you do business with people you trust, it makes the whole process easier and a lot more fun.

The Power of the Customer

“There is only one boss. The customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else.”

Sam Walton (1918–1992) American retailer founder of Wal-Mart

As customers we have power we forget about and don't exercise often enough. Wal-Mart is a great example. Many people don't feel right about the fact that American workers don't have adequate health care, yet the largest purchaser of health care in America, Wal-Mart does little to challenge the problem. In addition, we struggle with wages that don't meet the minimum living expenses but turn a blind eye at the exorbitant profits Wal-Mart posts.

Let's fire them.

I'm not afraid of a fair negotiation. Going for the cheapest price and leveraging your vendors has a long-term ripple affect. I was recently at a meeting for small business owners. We were discussing the lack of available financing and how it was affecting our growth. One man who once owned a $25 million company with no debt bragged "I financed my business on the backs of my vendors."

Yuck. He entered into business relationships with no intention of paying within terms. Stretching out his payments for 90 and 120 days. Vendors who wanted business and trusted him fell for it and he was able to grow a profitable business.

He asked for my card. He's starting a new venture and needs sales support. There's no need for him to call me. I'm not financing anyone's business and he's not the kind of guy I want to do business with.

Trust is key in mutually beneficial business relationships. Customers like him would ruin FullCircle Management.

Learn How People Like to Communicate

There once was a statistic that it would take five points of contact to get the attention of a prospect. With all the methods of communication out there today; email, voicemail, phone calls, face to face meetings, twitter, text messaging, the statistic could be higher. Learn how your prospect likes to communicate and then use the method they prefer. You'll learn which method that is by listening. If they never respond to emails, emails are probably not the preferred method.

I left a detailed voicemail for a client. He called back, ready to talk but unaware of what I discussed in the voicemail. When I asked about it, he said, "I never listen to voicemails. I get 120 a day. When I see a number on the caller ID that I want to speak to, I call back." He also wasn't responding to my emails. He said, "I have three addresses, I only check one regularly. I get 500 emails a day."

This guy is stretched. I use the email he checks very sparingly and type whatever is relevant in the subject line so he can see the message right away. I no longer waste time leaving voicemails he won't listen to. I call only when I have key information that will move our project forward. When I do call, I am prepared with bullet points of what I want to discuss so that our call is meaningful. I want him to trust that when I reach out to him, I'm bringing value and this communication will be worth his while.

As you communicate with your prospects, use the communication method they are most comfortable with and start earning trust and building your connection.