Put Relationships First: Profit Will Follow
Written by Dave Lorenzo on May 15, 2020 / Inside BS Podcast
Relationships are the key to long term success in business and in professional services. Today’s show, which is day ten, in ten days of success, outlines the five ways you can put relationships first in your business.
First: Start with an external orientation. You have to put the needs of the client at the forefront of everything you do. Every conversation with the client should focus on what they want, what they need, and how you can help them – even if that help is outside of the scope of your normal duties.
Second: Measure lifetime value of client relationships. Stop thinking about individual transactions. Think about the value of the relationship over the course of a lifetime. Your client, the person, will be with you forever if you think about helping them over and over again during your career. They may move from job-to-job but they will stay with you if you think about the totally of that relationship and not individual transactions.
Third: Think of the value exchange. Sometimes it is goods and services for money. Sometimes the value is simply an answer to a question. But each time you interact with a client, they have to come away feeling like they received great value from you.
Fourth: Provide support beyond the typical relationship. No matter what your product or service, you are responsible for the growth of your client’s business. This is important for the survival of the business as well as the growth of your relationship. You must buy from your client. You must pass referrals to your client. You must introduce your client to people who can connect them with additional opportunity.
Fifth: Be easy to work with. Don’t make people jump through hoops to work with you. Answer your phone. Return calls. Reply to email. Give people straight answers. Treat everyone like they are your best friend or your most treasured relative.
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