MCBRIDE FOR BUSINESS BLOG

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Relationships vs. Transactional Arrangements

June 6, 2017 // R. Shawn McBride // No Comments »

As my business has grown, more and more I’m doing business with people on a relationship rather than transactional basis. When the business was new, and we were smaller, we often had to call upon somebody to get a task done. Pay them and move on. That’s a very transactional view of the world. Sure, transactions are still part of the business when something needs to get done but relationships aren’t needed. It’s a transaction. I gave you this; you give me that.

More and more, my transactions are based on an ongoing mutually-beneficial relationship. Sure, I might have someone provide a service to my business, and I may pay for that service. But that service provider is also looking out for my business — figuring out what’s good for me, making strategic introductions, and likewise. For most of my clients, the relationship is mutually beneficial, and it’s deeper than just a transaction. I’m looking for opportunities for them that can help develop their business.

It’s a much deeper understanding and connection then just, “Here’s some consulting work or here’s some legal work or here’s a speech to give.” Give it back. It’s ongoing. We’re looking out for each other. We’re connected. It’s a much more fulfilling way to do things. Certainly, you feel better; you feel like you’re helping more, you feel like you’re more connected. Additionally, you’re also at a deeper level of understanding. When you have a relationship with your clients, you know what they need, you understand their needs, and you can adjust and fulfill what they want.

My question for you is, what are you doing to build relationships? How are you making sure you’re doing the right things so that you and a client understand each other? Not everybody’s going to get the relationships, and here’s a great opportunity to add more value, to be more, and to create long-lasting clients and business.

What are your thoughts on this? Have you gone to a relationship focus? What percentage of your clients are relationship versus transactional? Join us in the comments below and let us know about your thoughts and experiences.

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This posting is intended to be a tool to familiarize readers with some of the issues discussed herein.  This is not meant to be a comprehensive discussion and additional details should be discussed with your attorneys, accountants, consultants, bankers and other business planners who can provide advice for your circumstances. Each case is unique.  Past results do not guarantee future outcomes. This article should not be treated as legal advice to any person or entity. Freeimages.com/photographer Robert Owen-Wahl.

 

About the Author

R. Shawn McBride is the Chief Innovation Officer at McBride For Business, LLC. His signature keynote, The 3 Laws of Empowerment , gives audiences an entertaining look at how they can prepare, plan and protect themselves. You can reach R. Shawn McBride at info@mcbrideforbusiness.com or (214) 418-0258.

 

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Posted In: Business, Strategy



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