working relationships

Step 4: evolve (stewardship)

Of five main reasons people stop doing business with organisations; death, relocation, problem with a member of staff, problem with the service and indifference, which one is the most significant?

Death – 1%
Relocation - 2%
Problem with member of staff – 4%
Problem with the service – 14%
Indifference – 68%
Others – 11%

Is it a surprise that your network will forgive poor product or service (-14%) before they will forgive being ignored (-68%)? Why is that? Well because it is not enough to deliver on the product or service, you also have to deliver on the relationship.

Stewardship is about “the big leap” from a ‘transactional’ to a ‘relationship’ mindset and how in stewardship you not only have to perform on the transaction but on the relationship as well. Note of caution here; intention is everything - try and fake it and the 'relationship' will know.

Step 1: Contact >>

Assumptions

Networking is not an event but a process in which you contact, connect, involve and evolve a relationship over time.

Networking is not about your personality. Certain personality types are better at selling. All personality types can have good and bad relationships.

Networking is not about what you know or who you know but is about who knows you and what they think of you.

Networking is not about your ability to compete competing but is about your ability to listen.

Networking is about knowing the extent of your capacity to network (see Dunbar's 150)

Networking is also about knowing The value of weak connections.

Networking is also easier for those with more Social capital as it acts a measure of trust and reciprocity in your network.

Contact

Research

Doing Research (identifying who to contact). What is research? What role does it play in the relationship process? How do you measure its success? What does it mean to ‘rate and screen’ prospects by their ‘capacity’ and ‘propensity’ to do business with you?

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Connect

Cultivation

Doing Cultivation (making the connection). What is cultivation? What role does it play in the relationships process? How do you measure its success? How do you take your prospects on a cultivation journey? What kind of cultivation initiatives can you take?

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Involve

solicitation

Doing Solicitation (asking for the business)? What is solicitation? What role does it play in the relationship process? How do you measure its success? What does it mean to ask for the business? When do you know you are ready and how do you ask?

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evolve

stewardship

Doing Stewardship (evolving the relationship).What is stewardship? What role does it play in the relationship process? How do you measure its success? How important is it in moving from a “transactional” to a “relationship” mindset? Who makes the first move?

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