Home
>
Small Business
>
Keep TRACK of your Business Relationships and Gain Profits

Keep TRACK of your Business Relationships and Gain Profits

How do you know when an alliance needs to be monitored and tracked?

More often than not, an alliance needs to be monitored and tracked. If you ignore your alliance partner at all, you will be losing ground and your business relationship will not be what you expect. If you ignore anyone, they tend to forget about you, or at least they will not take you seriously and will find other people to pass the time with. The same is true for an alliance partnership. You should remember to treat them just like a customer and always keep in touch. Any business relationship depends on how much you keep in touch and how much information you give them to keep the project alive.

This does not mean that you have to commit to a great volume of communications but you do have to commit to a regular communication strategy that is a two-way commitment. You must also know what is happening with the alliance partner and how you can help to increase the amount of business they do on your behalf. The two-way street approach should be part of any alliance or partnership agreement you put in place. If you do not make any communication commitment, then the dialog or information will be sporadic and it will not provide you with a consistent update on the latest and greatest information. It is only with information that you will be able to take full advantage of the alliance.

When you spend time monitoring and tracking an alliance, you will be fully prepared to step-in with help when needed. You will also be advised well in advance of any potential problems. Problems with an alliance can be many, but through clear and consistent communication, these can be held to a minimum and perhaps even solved before they become too large and threaten the relationship.

Where Alliances Are a Problem

How do you determine potential problems with an alliance?

Alliances and partnerships will always have problems. Nothing ever goes as smoothly as it should. In other words, nothing is easy, it must be nurtured and any possible problem dealt with before it ruins the relationship. So what can go wrong with an alliance? First, the alliance partner may not have enough focus on doing well with your product or service. They may want to sell more of another company's products before they deal with yours. This can be solved by keeping them informed and educated about what they get out of the alliance with you. Second, an alliance partner may not gain enough sales to retain the partnership. You have a choice as to whether they should be dropped and replaced or to work with them to increase the sales.

If you think about it, it is less costly to place a current alliance into a training and supporting position than to try and find a new alliance partner. Lastly, an alliance may have changes in personnel, and the new faces may not believe in your product line (they may want to sell a competitor's line as their favorite). In this case, the business relationship will need to be rescued through additional communication efforts.

Any number of other problems may arise with an alliance but the three mentioned are the most common to the partnerships I have created with my company. I often do surveys of my channel partners to judge any lapses of interest. I also look at the number of product returns from any partner. This is usually an indication of product substitution with another line and also an indicator of a change in focus. You will need to determine your own minimum standards for an alliance and draw that line in the sand for a starting point.

Bette Daoust, Ph.D. has been networking with others since leaving high school years ago. Realizing that no one really cared about what she did in life unless she had someone to tell and excite. She decided to find the best ways to get people's attention, be creative in how she presented herself and products, getting people to know who she was, and being visible all the time. Her friends and colleagues have often dubbed her the "Networking Queen". Blueprint for Networking Success: 150 ways to promote yourself is the first in this series. Blueprint for Branding Yourself: Another 150 ways to promote yourself is planned for release in 2005. For more information visit http://www.blueprintbooks.com

Lincolnshire shuttle from Midway .. Lockport Chicago limo O’Hare

In The News:

Security researchers have found a fake app pretending to be a version of the messaging app Telegram, and hackers are using the app to spread malware.

Meta recently announced it will cease working with third-party fact-checking organizations to flag misleading posts on Instagram, Facebook and Threads.

Scientists have developed a floating solar still device that is capable of harnessing the sun's energy to purify seawater and withstanding harsh maritime conditions.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Tech expert Kurt “CyberGuy" Knutsson says business email compromise scams are a serious threat, as shown by Teresa W.'s near loss of thousands of dollars.

Big tech coming in 2025 includes solar umbrellas, AI TVs, smart earbuds and crazy robots. Tech expert Kurt “CyberGuy" Knutsson gives his take on the wonders revealed at CES 2025.

Tech expert Kurt “CyberGuy" Knutsson provides two methods to restore your contacts for iPhone and Android devices.

FBI warns that criminals are using generative AI to exploit individuals with deceptive tactics. Kurt “CyberGuy" Knutsson explains their tactics and how to protect yourself from them.

Tech expert Kurt “CyberGuy" Knutsson says hackers are embedding dangerous code in Chrome extensions to steal your data.

Google Maps Location Sharing is now built into Android settings; no need for Maps settings. Tech expert Kurt “CyberGuy" Knutsson discusses the welcome improvement for Android users.

Not all apps out there offer legit virtual private networks, according to Kurt the CyberGuy. He explains how to keep your information safe.

Apple's Image Playground transforms text prompts into images or animations in seconds, brining a world of creativity to the palm of your hand.

NASA's Ingenuity helicopter, which flew on Mars in April 2021, became the first aircraft to achieve powered, controlled flight on a planet other than Earth.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Thieves who have iPhones can usually detect a hidden AirTag in vehicles they are attempting to steal, and an RFID wallet may not help you.

Genmoji, the latest addition to Apple's Apple Intelligence suite, uses artificial intelligence to generate customized emoji based on text descriptions.

It's easy to find yourself swamped in unread emails. Here are a few simple steps to archiving them and clearing out some of your digital clutter.

Keep your retirement plan safe from data brokers selling your personal information. Kurt the CyberGuy explains how to protect yourself and your retirement.

Turo faces scrutiny after tragic incidents involving rented vehicles, raising questions about security measures and regulatory frameworks.

A Chinese company has developed a spherical, 276-pound law enforcement robot that has been chasing down criminals at impressive speeds.

Here are some powerful online sleuthing tricks you can use to check the credibility of a website, see old pictures of places you've lived and even learn more about your neighbors.

Beware scam calls: Avoid unknown numbers and protect your personal information. Tech expert Kurt “CyberGuy" Knutsson talks about the increasingly common scam.

Tech expert Kurt “CyberGuy" Knutsson helps you crush your New Year's goals with these 12 apps to help you stay on track and succeed.

There are many untapped safeguards and tips you can learn to take your Wi-Fi knowledge to the next level, technology expert Kim Komando shares her tricks.

VPNs ensure privacy; antivirus stops malware. Tech expert Kurt “CyberGuy" Knutsson says both are essential for online security.

Keep TRACK of your Business Relationships and Gain Profits

Small Business