New Post has been published on Power Up for Profits
New Post has been published on http://www.powerupforprofits.com/2017/11/short-term-vs-long-term-of-collaborative-relationships.html
Short-term vs Long-Term of Collaborative Relationships
When you think of collaborative partnerships, do you think in the short-term or long-term? Do you concern yourself only with what you can get out of the first level of your partnership or do you recognize the ongoing opportunities from collaboration?
Having been in business for nearly 24 years, I’ve seen those who understand the long-term of business and those who think only in the short-term.
The Thought Process
Short-term thinkers focus on the quick dollar without much thought to what comes next. They grab what they can without a view of the future.
Long-term thinkers realize every action is one that can create win/win, ongoing opportunities. Long-term thinkers are willing to give a little (even a lot) extra in the short term to build an ongoing relationship with collaborative partners, clients, vendors and affiliates.
Collaborative relationships between companies, can be the lifeblood of businesses today. Collaborative relationships allow you to increase the creative ideas, minimize financial risk and increase market reach.
Yet, some entrepreneurs completely lose sight of this ever-increasing trend in business. Rather than looking at how they can create a win/win partnership, they think only in terms of how to benefit in the short term.
Missed Opportunity
Some entrepreneurs are so short sighted they lose sight of future opportunities. Rather than viewing the partnership as something that can grow over time, they have a “get in and get out” mentality.
Short-term thinkers look at only the immediate gains while long-term thinkers understand there is likely to be more opportunity in the future.
Consider these questions specific to collaborative relationships.
Do you do all you can to make the relationship a win/win?
Do you look for ways to bring benefit to the collaboration?
Are you willing to give more than agreed upon?
Do you nickel and dime each other?
Do you struggle with repeat business?
Create a Win/Win
Develop a focus that creates a win/win, rather than simply what you can get in the short-term.
For example, when working with clients, be willing to add in extra deliverables at no extra charge to create the “wow” factor for your customers.
Recently I began working with a wonderful client. Knowing the client would benefit from a makeover on her LinkedIn profile, I reworked the copy and images without any additional cost to my client.
Her profile went from so/so to one that immediately conveyed her branding in a much more effective way.
I could have easily charged for this, but I wanted to go the extra mile. The client has invested a considerable amount with my company and this was one way to let her know how much I appreciate her.
As you attempt to stay competitive and grow your business, are you looking at only the short-term or do you truly look at the long-term? Giving a little today can go a long way in building a stronger tomorrow.
