Or is it?
Today is not tomorrow...that is it depends on which side of the global timelines you are sitting. A primary challenge in todays business practice and leadership is to find out how one is to guide and motivate a company and its people today in order to manage and grow for tomorrow in an ever increasing time sensitive business environment? How do you get your people, whether they be internal employees, sub-contractors, or consultants to challenge themselves to plan and pursue strategic and growth ideas while giving the appropriate attention to executing the here and now with the care and efficiency your company needs? In order to accomplish this it requires more and more leaders to continually deal personally with situations and concerns in order to navigate both external and internal battlegrounds. Today, more than ever, as nearly all markets have become global in so many ways, there is continual pressure on companies to cut costs and return capital to the bottom line. Also, building value demands that much of that same capital be diverted into long-term investments in order to maintain corporate stability within these trying and interconnecting global economies. All this is to be accomplished at the same time as the company's leader maintain and balance internal resources. On one hand, they need to focus some of their people on continually improving and growing the core business, and on the other, they must free others to break all the rules in the name of growth and innovation. By learning how to strike a successful balance by bringing to bear a new perspective on how growth efforts are situated in your company, how they measure and reward executing the present and building the future, and how they align behaviors to specific growth initiatives will companies find the available light at the end of their proverbial tunnel.
I would encourage readers to give some of their input to some of these questions and concerns. This global community forum is a perfect place in order to have this kind of discourse. We look forward to hearing from you.
Showing posts with label business relationships. Show all posts
Showing posts with label business relationships. Show all posts
Monday, January 28, 2008
Wednesday, January 16, 2008
It's all about relationships...
A business colleague of mine called today and said, "I've spent the day on the phone feeling as if I have ended up in the same place as where I started. I don't feel as if I have gotten anything accomplished today!"
I asked him why he felt this way. He went on to tell me that a large real estate project he has been working on to which he has invested hundreds of thousands of dollars, along with three years of his time, and a private clientele to which he has brought in to it had changed hands of the corporate leadership. The corporation had sold the company. He went on to say that he had had a few conversations with the owners of the company over the holidays to which it was insinuated that the deal was on the market. They had asked him if he or anyone he knew would be interested in buying a part or all of the deal. It seems that someone has, he said. That's just a typical day in the Real Estate development business, I told him.
My friend's initial response was nervousness, uneasy, unknown, and more. He had been on the phone all day trying to find answers. Answers such as who was the new buyer? What was their objectives and time lines? Was the investment going to look and play the same with this new team on board? Could this new blood reignite a new vision and forward momentum of the project? What is their track record with a similar type of project? My friend was worried wondering if he was going to be included in all of the parameters that he was previously promised and/or had been negotiating. What was this changeover going to do to his schedule and economic outlook? Were the numbers going to continue as planned or will this shut things down during the transition?
Most of the day he spent spinning his wheels, he said. Then he decided to call a few business associates that he was working with on other projects. This took his mind off of things for a while. He was able to step back and see a bigger picture beginning to unfold. The emotions began to subside a little as these next set of calls made were those strictly to ease his mind. Although, during those conversations he began to see things from a slightly different perspective.
I had told him that change is a good thing. I reminded him that he had been discussing with me a few months ago how there needed to be a change as the momentum with the project had been lost. Their previous few months of sales had been sluggish and the attitudes of the corporate staff had been lagging. Bringing in this new blood should get the riff raff out of the system. This should bring in a new set of people with new ideas and fresh outlook.
The following calls he made were on a happier note to colleagues and investors. His outlook to these next calls was that of touching base and saying hello rather than trying to satisfy his own feelings of panic or the loss of confidence in what he was doing. By making these calls from a happier place he began to find the positive outlook to the situation. These calls, being on a happier set of views were received well. The conversations went on to personal levels and not simply business related issues since he was coming from a different place.
By coming from this personal place the calls, although they were all business related, were now becoming happier and more open with the other person. The relationships that were there were being strengthened as the conversations turned to jokes and family rather than the daily drudge of business.
As he discussed this with me we talked about how business is not simply a one-on-one, zero sum game. Every facet of a deal is multidimensional due to the numerous players involved. Between the corporate board, managers, shareholders, customers and outside contractors there are so many nuances that all projects hold there is no one sole action that holds so much weight as to ruin any deal. Winning, for lack of a better phrase, may not necessarily be about paying $1 more or less but about creating opportunities for the future, managing the outlook and final target, and not being unduly pressured by inappropriate financing pressures. And sometimes winning is not doing the deal at all.
Regardless to the deal, the relationships built during the deal are priceless. These will continue on to other deals and friendships as time moves on. It is here where the true values lie. Another good deal is always right around the corner. Building a solid relationship is like a great wine in that it takes time and patience. There is trust that is created through solid business integrity. The deals come and go, the good relationships can morph into entities that we may not even have planned on to our benefit.
I asked him why he felt this way. He went on to tell me that a large real estate project he has been working on to which he has invested hundreds of thousands of dollars, along with three years of his time, and a private clientele to which he has brought in to it had changed hands of the corporate leadership. The corporation had sold the company. He went on to say that he had had a few conversations with the owners of the company over the holidays to which it was insinuated that the deal was on the market. They had asked him if he or anyone he knew would be interested in buying a part or all of the deal. It seems that someone has, he said. That's just a typical day in the Real Estate development business, I told him.
My friend's initial response was nervousness, uneasy, unknown, and more. He had been on the phone all day trying to find answers. Answers such as who was the new buyer? What was their objectives and time lines? Was the investment going to look and play the same with this new team on board? Could this new blood reignite a new vision and forward momentum of the project? What is their track record with a similar type of project? My friend was worried wondering if he was going to be included in all of the parameters that he was previously promised and/or had been negotiating. What was this changeover going to do to his schedule and economic outlook? Were the numbers going to continue as planned or will this shut things down during the transition?
Most of the day he spent spinning his wheels, he said. Then he decided to call a few business associates that he was working with on other projects. This took his mind off of things for a while. He was able to step back and see a bigger picture beginning to unfold. The emotions began to subside a little as these next set of calls made were those strictly to ease his mind. Although, during those conversations he began to see things from a slightly different perspective.
I had told him that change is a good thing. I reminded him that he had been discussing with me a few months ago how there needed to be a change as the momentum with the project had been lost. Their previous few months of sales had been sluggish and the attitudes of the corporate staff had been lagging. Bringing in this new blood should get the riff raff out of the system. This should bring in a new set of people with new ideas and fresh outlook.
The following calls he made were on a happier note to colleagues and investors. His outlook to these next calls was that of touching base and saying hello rather than trying to satisfy his own feelings of panic or the loss of confidence in what he was doing. By making these calls from a happier place he began to find the positive outlook to the situation. These calls, being on a happier set of views were received well. The conversations went on to personal levels and not simply business related issues since he was coming from a different place.
By coming from this personal place the calls, although they were all business related, were now becoming happier and more open with the other person. The relationships that were there were being strengthened as the conversations turned to jokes and family rather than the daily drudge of business.
As he discussed this with me we talked about how business is not simply a one-on-one, zero sum game. Every facet of a deal is multidimensional due to the numerous players involved. Between the corporate board, managers, shareholders, customers and outside contractors there are so many nuances that all projects hold there is no one sole action that holds so much weight as to ruin any deal. Winning, for lack of a better phrase, may not necessarily be about paying $1 more or less but about creating opportunities for the future, managing the outlook and final target, and not being unduly pressured by inappropriate financing pressures. And sometimes winning is not doing the deal at all.
Regardless to the deal, the relationships built during the deal are priceless. These will continue on to other deals and friendships as time moves on. It is here where the true values lie. Another good deal is always right around the corner. Building a solid relationship is like a great wine in that it takes time and patience. There is trust that is created through solid business integrity. The deals come and go, the good relationships can morph into entities that we may not even have planned on to our benefit.
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