Strengthening Your Value Proposition: Relationships
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Today’s Presentation Moderator: Mary Ressler, IFMA Components Manager Strengthening Your Value Proposition: Relationships Presenter: Daniel Goldsmith, DBA Daniel 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 Objectives 1. 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 stakeholders 7. 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
Successful Strategic Alliances
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
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
The Challenges to a Relationship • Trust • Communication • Conflict
The Pursuit 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?
Q&A Daniel Goldsmith daniel@dmgmc.com
Reference • Hughes, J., & Weiss, J. (2007) Simple Rules for Making Alliances Work. Harvard Business Review .
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