strengthening your value proposition:...

Strengthening Your Value Proposition: Relationships

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Today’s PresentationModerator: Mary Ressler, IFMA Components Manager

Strengthening Your Value Proposition: Relationships

Presenter: Daniel Goldsmith, DBADaniel M. Goldsmith, Consultancy, LLC

Presentation Logistics• Polls will be used throughout the webinar

• Q&A at the end of the presentation

• Quick survey at the conclusion of the Webinar

• PowerPoint & Recorded Webinar will be available online via FMCC’s Website (fmcc.ifma.org)

• Your Participation is Greatly Appreciated!

Learning Objectives1. Consider the notion of strategic alliances.2. Consider the significance of strategic collaborations.3. Consider the imperative of relationships in business.4. Consider the dimension of relationship as it relates to

collaborations.5. Consider the impact that the collaborative relationship has

on your client.6. Consider the impact that the collaborative relationship has

on your stakeholders7. Identify the value proposition associated with collaboration.8. Identify how value proposition can be strengthened with

effective collaboration.

Presenter Bio• Daniel Goldsmith, DBA

– Principal of Daniel M. Goldsmith Consultancy, LLC (Washington, DC)

– Practices areas: Strategy, Organizational Development, Training, and Research.

• Adjunct Faculty: Strayer University • Extensive experience as a practicing facility manager

in the public sector (federal)• Industry Designation: Real Property Administrator• Professional Associations

– International Facility Management Association (IFMA)– Institute of Management Consultants (IMC)– Society of Human Resources Management (SHRM)– American Statistical Association (AMSTAT)

Discussion Context• Discussion directed to the consulting

community of practice.• The discussion assumes that a

professional collaboration exists or has occurred.

• This discussion speaks to the dynamic of collaboration among organizations.

• This discussion speaks to the dynamic of collaboration among practitioners.

Strategic Alliances

Vorführender

Präsentationsnotizen

The terms strategic and alliance can have broad interpretations, I choose to use them here as the relationships we consider because our relationships are strategic in that they are inherently valuable and critical in terms of skill and capacity. As the image connotes, there are realities to consider. There is a reality of excitement. (Opportunity to excel, opportunity to learn, opportunity to explore). There is a reality of uncertainty? There is a reality of risk? There are reality questions? Other realities: There is a reality of possibility. There is a reality of sustainable business performance. There is a reality of creating and advancing competitive advantage.

Successful Strategic Alliances

Vorführender


Here in this slide, we see two very prominent brand associations. Nike and Apple brings an efficient exercise experience and information delivery. Here you can integrate music into your workout as well as receive data about your workout including calories burned, distance traveled, as well as time that has been consumed.

Bases for Business Alliances• Increased profitability• Increased visibility• Greater value to the customer• Greater capacity to deliver to the customer• Improve competitive performance• Improve competitive positioning• Improve brand presence• Improve brand recognition

Drivers for Business Alliances

• Compatibility in mutual business strategy• Compatibility in business capability• Compatibility in expertise and skills• Recognition of mutually benefit

Nexus between Alliances and Collaborations?!?

• Commonalities• Synergies• Professional

compatibilities• Relationship

The Dynamic of Business Relationships

Vorführender


Business Alliances/Collaborations As the slide shows, there are numerous elements and dynamics that drives business collaboration…and for good reason. According to the Harvard Business Review, alliances soar by 25% annually. This observation suggests that companies and practitioners alike recognize the imperative and value of collaboration. Numerous conversations and discussions invariably focus client deliverables, revenue possibilities, value propositions, and fees. Other conversations will focus on process, conflict resolution, disagreements, and outcomes. These collaborations account for almost 33% of companies revenue and value The failure rate for alliances is approximately 60-70%, according to research done by Jonathon Hughes and Jeff Weiss (Harvard Business Review)

What is your value proposition?• Skills• Expertise• Responsiveness• Responsibleness• Honesty• Timeliness• Integrity• Ethics• Service• Client Experience

Trust and the Ability to be Trusted• Character• Skill• Consistency

Vorführender


Follow through (Check-in, asking the unresolved question or issue) Follow up Sensitivity to the work deliverable Sensitivity to the client Sensitivity to the stakeholder

The Challenges to a Relationship• Trust• Communication• Conflict

Vorführender


Be mindful of how the unspoken word can impact perception.

The Pursuit of Knowledge

Vorführender


How well do you know your collaborators? What do you know about your collaborator that is actually assumed vis-à-vis what is known? How well do your collaborators know you? What do your collaborators know about you that is actually assumed vis-à-vis what is actually known? How do we get to the place of knowledge

Knowledge Points to Consider• Skills

– Hard Skills: Competence, Relevance– Soft skills: Friendliness, Warmth, Cordiality, Kindness, Empathy

• Values– Honesty, Integrity, Responsiveness, Responsibleness, Proactivity, Willingness to acknowledge error,

Willingness to remedy error, Desire to achieve win-win solutions• Work Ethics

– Diligence, Due Diligence, Thoroughness, Tenacity, Perseverance• Ability to collaborate

– Sensitive to the needs of your collaborators, sensitive to the needs of the clients, • Ability to foster an environment of transparency

– Minimize assumption, Minimize presumption, Full disclosure, Minimize surprises• Ability to function within defined boundaries

– Understand roles, Understand responsibilities, Understand expectations, Understand outcomes• Working style

– Introvert, Extrovert, Morning personalities, Late • Cooperative

– Demonstrated competence in working together– Demonstrated competence to accept and follow direction

• Roles and Responsibilities– Can the roles be respected?– Are the responsibilities

Relational/Collaborative Realities• Transparency• Credibility• Timeliness• Dependability• Reliability• Preparation• Remove presumption• Stakeholder awareness• Stakeholder engagement• Fiduciary

Relationship considerations• Marketing• Optimal solutions• Fiduciary• Trust• Communication• Transparency

Why are relationships important?!?• They are necessary for our survival

– In business, relationships is considered a valuable currency

• They allow us to learn• They allow us to grow• They allow us to build social and

interpersonal networks• They allow us to grow and develop

professionally.

Candid Conversation• What type of collaborator are you?• What type of collaborator would your

collaborators say you are?• Are you an asset/liability to the

transaction?• Are you an asset/liability to the process?• Do you advance the well being of your

collaborator

What is your criteria for relationship?• What influences you to create or build a

collaborative relationship?• What are your motivations to create or

build a collaborative relationship?• How do you know it is working?• How do you know that the relationship is

effective?

Vorführender


Final Thoughts…. What will you do to nurture and strengthen your professional relationships? When was the last time you sent a “Thank You” note? The handwritten Thank You note is a very powerful gesture of thanks, gratitude, and goodwill. What opportunities have you identified that will help you advance your collaborative relationships holistically? What collaborative relationships have been strained due to a mis-step? How can that relationship be repaired and restored? What will be your role in that relationship repair and restoration

Q&A

Daniel [email protected]

Reference• Hughes, J., & Weiss, J. (2007) Simple

Rules for Making Alliances Work. Harvard Business Review.

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