Partnerships in business are essential as they create opportunities to advertise, generate leads, and turnover a profit. The way the supply chain is structured in the construction industry means they’re more vital than ever.
If a single link the chain breaks, you may not be able to fulfill your promises to customers and clients. Aside from losing money, your reputation will take a hit and impact future business. It’s critical that your relationships are strong and last for a long time if you’re going to be successful.
With that in mind, here are the four steps to follow that will help you craft unbreakable partnerships.
Make Sure Your Core Values Match
Individuals always have differences of opinion. However, you’ll find that the things that matter most to you are not on the table. So, if a supplier isn’t on the same page, the relationship will break down within a matter of days or weeks. Plus, the core principles of the company impact the customers and clients. If, for instance, you’re big on eco-friendly services and solutions and the supplier isn’t, you’re lying to your base.
Write down the five or six most important traits or beliefs you hold dear, and refer to the list when interacting with potential partners.
And Your Complimentary Strengths
On the flip side of the coin, you have your strengths and weaknesses. These are areas that you excel in and struggle within an equal measure. As a leader, you can’t be incredible at everything because it’s not realistic. You may be a jack of all trades, yet it’s better to have an expert by your side, and you can by combining your strengths and weaknesses.
Are you great at dealing with the day-to-day operations of the business? Is a supplier skilled at drilling down to the foundation of service and thinking of the bigger picture? If so, you’re a match made in heaven.
Look Out For Reliable Reviews
A review is an unbiased overview of the person or company. As such, they have nothing to gain from their statement, so you know you can trust it. Of course, you must understand your red lines compared to the reviewer, as what they find unacceptable may not correlate with you. Alternatively, regulatory boards and awards provide lots of insights. The fact that Roger O’Steen has been named the Northeast Florida Developer of the Year is impressive.
The fact that his company has won the award twelve consecutive times is a sign of high standards.
Protect Your Commitments
Nobody expects a partnership to turn sour, yet they do, and it happens more often than you think. You can’t let this stop you from forming a bond with a potential ally as you’ll never push the business forward. Still, it’s vital that you keep this element of partnerships in mind. When you do, you’ll take the necessary steps to protect your back in the eye of the law.
Once the signatures are on the contract, the agreement is binding, meaning you’re less vulnerable in a dispute.