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Monday May 10, 2010

Topic: Relationship Management

Reference: Strickland, Lea. “How to Grow Your Business One Relationship at a Time.” MWorld (the Journal of the American Management Association), Summer/Fall 2009. pp.38-41.

Monday May 10, 2010

Topic: Relationship Management

Reference: Strickland, Lea. “How to Grow Your Business One Relationship at a Time.” MWorld (the Journal of the American Management Association), Summer/Fall 2009. pp.38-41.

Building strategic relationships and networking takes an extended effort, a good strategic plan, and effective follow up. It also requires something that I struggle with-patience. In the Zen of relationship building you have to be firm, but not aggressive, forward, but not pushy, and engaging, but not too talkative. It requires some mental gymnastics that many struggle with. Despite the rise in technology, it is also not getting any easier. Many people no longer respond to call, email, or event requests. They don’t attend many of the generic business summits, nor do they have assistants that you can build rapport with to help you in your relationship-building quest. Tough times require tougher methods. They also require new tools and different approaches to achieve similar results. The referenced article makes this point by reiterating the need for improved networking skills. “Networking requires strategy and focus. It also requires thinking of your contacts and network as valuable intellectual property that needs to be managed, just as you would other assets.” The commentator indicates that networking has become another the competitive sport and that the process has changed. She advises not to focus on the endgame as it prevents relationships from developing; find people who share potential business interests (peer-to-peer relationships); and put quality over quantity to most effectively manage your time. I agree with the thesis propounded by this commentator, however, I believe that there are several more issues that you should be aware of as well. Don’t be fooled by titles, with the way organizations are now structured a good advocate anywhere in an organization is an asset. Have a plan to follow up with everyone that you meet. Even a brief email or note card is good gesture in today’s operating environment. Also, use events, information sharing, and headlines to build rapport. Examples include referring people to interesting books or articles, indicating that you will be attending a specific event, or updating someone on a mutual sports interest can help. However, you choose to do it, it is imperative that networking be done. To get better at it, accept the competitive challenge, use more tools, and understand that it is a marathon and not a sprint.