Tag Archives: relationship

TNF #092: Persistence vs. patience

Welcome Professionals…

…Building new client relationships requires a long-term effort. Trust will only grow over time. It may take years to establish a new client relationship. Many times, we will give up too early. For a winning strategy, we need to keep the right balance between persistence and patience.

Persistence is highly important. We must not loose grip if our emails or phone calls do not get answered. We continuously have to think of new ways to add value to the person that we want to build a connection with. We have to keep trying.

persistence

There is a tipping point, when persistence is turning into annoyance. When our activity reaches a certain level of intensity and frequency, the target person might feel pushed into something and this will usually put an end to the newly established connection. This is why persistence has to balanced with patience.

Hard to say which number of contact attempts is ideal. My business partner has empirically developed a rule of thumb over the last 30 years in business. According to his practical research, it takes 8 quality interactions per year to develop a new connection. This has proven to be working for hundreds of connections established. A quality interaction is defined as a two way communication that is personalized and linked to the target person’s targets and interests. Sending a simple newsletter does not count, but a personal invitation to an event with an answer received (confirmation of attendance or excuse due to other plans) will be eligible. Phone calls turn out to be the most efficient means for quality interactions.

I have tracked this rule myself and it works for me. Let me know how it works for you!

Malte

Thursday Night Flight is brought to you by Malte Müller Professionals. Sharing best practices for top management consultants on topics like communication, client handling, problem solving, appearance, and fitness. Check out www.mm-professionals.com for more material and free resources!

TNF #063: It’s all a matter of trust

Welcome Professionals…

…trust is the essence of the trusted advisor that we all strive to be.

Building trust is typically a arduous long-term process. It requires high quality work, a good amount of generosity towards your client and at least one moment of truth. We need to put a real investment of work, time, money and attention into our client relationships in order to make them trustful. But is this all worth it? Aren’t we better off with a quick transaction where we receive the value right away? When is the time we get something in return?

The true value of trustful relationships usually shows under pressure. When the client has to make a high performance achievements under high time pressure. Then, there is definitely no time left for a benchmarking of different service providers, chasing the best offer, negogiating for the best price. Our client will turn to the trusted advisor. This is the time when we can benefit most from a trustful relationship. On the one hand there is less pushback on our premium fees. On the other hand it is a great time to learn and grow together with our client as we get jobs beyond our core expertise.

trust

Although the usual checks and balances might get by-passed, we must not let it slip. We need to make sure that we deliver high quality work that complies with our professional standards also under these high pressure conditions. Otherwise we may loose the trust again. In fact, keeping our high standards under these circumstances is a chance to deepen the trust even further.

Now, as we approach the end of the year, it is a perfect timing to spot these opportunities. Our clients face their yearly targets. They may struggle to get there. And they count on you!

I trust you will help them!

Malte

Thursday Night Flight is brought to you by Malte Müller Professionals. Sharing best practices for top management consultants on topics like communication, client handling, problem solving, appearance, and fitness. Check out www.mm-professionals.com for more material and free resources!