It is often said that your reputation is defined by your community and the company you keep.
As
a global business consulting firm, we are fortunate to work with a
phenomenal community consisting our clients and partners. Although the
confidential nature of our relationships prevents me from mentioning
our entire community, I want to mention a few companies that have made
2008 a great year for our team.
Our relationships with our virtual business partners including the entrepreneurial business law firm, Alerding Castor, and the creative business blogging firm, Compendium Blogware, have helped us to expand our platform of services and geographic reach. Most recently, we have expanded our reach to Africa.
We look forward to continuing our relationships in 2009.
What do you want your equation to look like for 2009?
Yesterday, I ran a 10-mile training run. At the beginning of the run, I began to think about the similarities between a running partner and partnerships in business.
Business partnerships can come in the form of joint ventures, distribution deals, co-founders and even virtual business partners. Running partners occur in several forms including a daily running partner, group running and running against/with virtual partners (see Nike+ training system).
My first running partner helped me train for the 2005 Chicago Marathon. He was faster than me but we both had one common goal - finish the 2005 Chicago Marathon. As we trained together, I became a faster runner because of him. He became a more patient runner because of me. As a result, we both finished the race and accomplished our goals. This scenario is similar to the business development efforts of a for-profit partnership or that of a social entrepreneur partnership between two NGOs. Together both entities have a common goal. Along the way, both sides learn and grow from each other while achieving their respective individual goals.
What lessons have you learned from the miles you've run with your running partners?
I had a mid-morning meeting this morning with a business partner. His firm focuses the social media industry. During the meeting, we talked about various ways to increase business development opportunities without straying outside of your core business.
From a consulting standpoint, we discussed how we tend to forget that our most valuable assets are our knowledge and time. He mentioned how his firm has given away strategic implementation materials to potential clients. Now, his team is working on maximizing the knowledge they have acquired over the years. I know they will do just fine.
Are you leaving revenue-generating opportunities on the table?
Yesterday, I attended a performance in Chicago by the Born Again Floozies. A good friend of mine is a member of the band and invited me up for the day. My plan was to use the day to recharge and relax. I was able to do both with an added bonus.
The bonus was an introduction to a potential business partner. This potential partner is the president of a global corporate security firm and friend of my friend's husband. We talked about our virtual business model at S4X and the business consulting we provide for our clients. He explained the intricacies of corporate security.
Moving forward, we both believe by working together in some capacity we can provide more comprehensive business solutions for our clients. Of course, the next meeting will be at another Born Again Floozies concert.
By utilizing business blogging, I hope to share some of my experiences with you to move your organization forward.
During the strategic implementation phase of a recent project, I encountered a situation which could be helpful to you in future projects. One of the partners in the project was very passionate about moving forward as quickly as possible. A business partner passionate about a project can be an asset. Unfortunately, this partner whose focus was on marketing did not pay attention to the details involved in the comprehensive plan. By missing the details, the partner lost focus on the specific needs of the client. As a result, the strategic plan implementation was delayed.
I have communicated to the partner that this project involves the intricacies of business networking and relationship building. The partner has slowly started to understand that the details of the relationships move a project forward and ensure the completion of the project. Without the people, the project will not be completed.
You never know what will happen when you connect a client, business partner or friend to something you think they may find helpful. Social networks can connect people in unexpected ways...
A few months ago, I sent an email to my clients and my personal network. The email included a link to a YouTube clip for the trailer for Two Million Minutes, a documentary on global education.
One of my clients from Indiana sent me a surprising reply. She mentioned that she had a passion for global education on a local level. This particular client is in the Indiana Life Science industry and does not have activites in the edcuation sector at the present time. From this reply, my client and I have had further discussions on global education and other opportunities to work together beyond our current endeavors.
If you haven't seen the movie, check it out or read the blog from Executive Producer, Robert Compton at http://www.2mm.typepad.com/. It may start a dialogue with a client or friend which could lead to potential collaborations. The current state of education is something for which everyone has an opinion.
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It is often said that your reputation is defined by your community and the company you keep.
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