29 Dec 09 Giving the Gift of Trust this Holiday Season

The holiday season is a time we all think more about giving: we spend much of our time and money shopping for our loved ones, make sure our business holiday card lists are all in order, donate money or items to charities, and tip any number of service and delivery people. The holiday parties and mixers are a good time to start thinking about giving more to create strategic alliances.  I want to make a case that one of the most valuable gifts YOU can give is the gift of trust.

Finding a natural peer group

Strategic alliances are about cooperation over competition, so finding the right peer group should be your first priority. What businesses serve the same customer base as yours, without necessarily competing for the same customer dollars? For example, an attorney whose practice focused on real estate transactions, wills and estates may find attorneys in complementary specialties (such as business and corporate law) at local bar association meetings. He or she may develop relationships through service organizations such as the Rotary, where the members come from different fields but share common interests. Holiday parties hosted by clients are another excellent place to make new business acquaintances who aren’t likely competitors.

In any networking situation, ask open-ended questions that encourage others to speak about themselves and their businesses- the more unusual the question, generally the better answers you will get, and the better conversations you will have. Try to listen more than you speak, and make a note to follow up with anyone of interest. Don’t let the conversation last much longer than ten minutes, and of course, be sure to have a clean hand free to shake with. If possible, make an introduction to someone else that your new acquaintance may find of interest.

Planting seeds of trust

Introductions to potential business allies are only the first step. The seeds of trust must be planted, and this is where a giving nature will shine. It’s not easy to develop trust without assuming some level of risk – why wait? Be the one to take those first steps. Take the risk by investing trust in your new strategic partner – chances are, he or she will appreciate it and work hard to deserve it. Pay it forward by recommending his or her services, making an introduction, or otherwise giving them a chance to prove themselves.

Being the person to start the process of trust puts you in a position to receive the most out of the relationship, as well. One way to make the overture is to talk about business processes – you probably won’t be sharing any deep, dark secrets – in fact, you may be surprised how similar your processes are to those of businesses in related industries. Exchange ideas that have worked for you, and identify areas that could benefit from sharing costs. You don’t necessarily need to be sharing costs with a strategic partner, but recognizing similar needs can make it easier to develop an even stronger business relationship over time.

Walking the walk

Aim One Marketing needs strategic partnerships just as any other business does, so I’ll use us as an example of building those types of relationships with a giving mindset. I’ve been searching for a sales trainer to do follow-up sales support and training for some of my students in my marketing classes. Sales and marketing are intertwined enough that I often have a lengthy discussion in class about the role of each in a business. I’ve given plenty of sales trainings myself, and I’m at least passingly familiar with all of the popular sales systems, but sales training isn’t my focus, nor real expertise, and having someone on my team that I trust to focus on that particular skill set would be a big value added for my clients.

So when I’m introduced to someone with these skills, are we more likely to benefit from fear or trust? I’ve been looking to add a strong, competent and trustworthy sales trainer to my ‘team’ for quite a while now, preferably locally. Many successful sales systems can be a great fit with the Duct Tape Marketing philosophies.  I also know there are many sales systems that are packed with information that’s contradictory to the philosophy that I share, causing unneeded confusion for everyone involved.  So here’s the question- if you are unwilling to trust a potential strategic partner enough to share an overview of your system, how can you ever hope to develop enough trust to form a mutually beneficial strategic alliance relationship?

This isn’t to say that one should always open one’s books and proprietary information to strangers – always use common sense. If you have a genuine “bad vibe” about someone, or you have reason to believe that he or she does not share your business ethics, then there is no reason to consider doing business together. Being willing to give doesn’t mean being blind to danger – but it does mean being willing to give up blind fear.  It is nearly impossible to be trusted for long unless you make the effort to trust others first.

So in the spirit of the holidays try giving the gift of trust, and see how much your business grows in return.

Tags: Strategic Alliances, Trust