I had the opportunity to listen to a successful entrepreneur express his opinion on the gap relating to business relationships. The main point simply stated in any successful business relationship two people/parties must bring 100% of their 50% to achieve a mutual measure of success. He cited a variety of examples of what happens when there’s a deficit from either party.
This advice, obviously not limited to business seems easy to qualify but much more difficult to quantify. He explained that almost all business relationships begin with what used to be deemed the only necessary quantifier; the contract. The contract, in essence was the terms of understanding expectations for both parties. For decades, the contract has been adequate & suitable however, he pointed out with the misplaced gratification levels & an over inflation of expertise (something we covered in last weeks blog), that the contract, stand alone may no longer cover a changing business relationship spectrum.
His opinion on that spectrum was as to the effect of;
- 60-70’s: provide me an opportunity – and thank you
- 70-80’s: provide me an opportunity - treat me fairly – and thank you.
- 80-90’s: provide me an opportunity– treat me fairly – understand my needs – and thank you
- 90-00’s: provide me an opportunity – treat me fairly – understand my needs – empower me – and thank you
- 00-present: provide me an opportunity – treat me fairly – understand my needs – empower me – mentor me – and thank me.
Provided clear expectations are laid out at the onset and quantifiable plans are in place, there should be very little ambiguity. Of course, no system is perfect and one must always account for human factor variability, but again with 100% of our 50%, we should be far more then less productive.