Given the challenging business conditions and fierce competition, it is important to find out the core area that we need to focus on - relationships or partnerships. Also, how do we choose an appropriate approach to being successful in either of these two.
In business, relationships play a pivotal role right from its inception. Given the influence of social media on society through reviews, testimonies and ratings relationships could well decide the course of business. In my recent experiences, I have encountered cases where good and networked relationships have had a bearing on the final outcome of the business. In many cases, all things being equal, it was a relationship that mattered most and, in a few cases, relationship with the associates or business partners were the only reason for being selected. In other words, relationship refers to knowing people and helping their job to be done in an efficient and effective way.
Partnership is walking hand-in-hand. Marching together with a common goal in mind. Helping each other to prosper along the way with mutual success in view. Working together, acknowledging and seeing merit in each other while complimenting their respective strengths is key to success. In today’s world, we appreciate all our associates to be and act like partners. The implied meaning within, is that they would walk alongside you in your business journey, stay the course with you – through challenging and successful times ahead and compliment your growth with their added value. Of course one needs to have a firm relationship in order to foster a meaningful partnership.
Often, we tend to interchange these words though relationships tend to be emotional and partnerships seem to be contractual. However, it seems that relationship is the base for any good partnership and not so much vice versa. Be it personal or professional, great partnerships always start with great relationships.
Special thanks to my colleague and friend J.J. Jang for sharing her insights on partnership, while we met over a coffee😊