Strategic Relationships- Establishing and Managing relationships for success

  

 Dear Farmer,

The African Sorojena said if you want to go fast, go alone, if you want to go far go with others or something like that. I have seen many build walls around themselves and their businesses out of fear, the results have not been pretty. They paid avoidable college fees or missed opportunities because they did not invest in relationships. Today I am going to walk you through identifying the type of relationships you need to always be on the lookout for to grow. You must have Mentors, Maps, Mirrors, Sponsors, Worthy Rivals and Alliances in your ecosystem for success.

 "Mentoring is a brain to pick, an ear to listen, and a push in the right direction." (John C. Crosby)  Guidance, wisdom and support is derived from experiences and expertise. They can be formal or informal, spanning across industries, fostering learning and personal development.

 

 "A goal without a plan is just a wish." (Antoine de Saint-Exupéry). Maps serve as navigational tools, guiding individuals and organisations through the complexities of business development. This process involves setting clear objectives, conducting thorough assessments and devising actionable plans to achieve the desired outcomes.

 

"Honesty is a very expensive gift. Don't expect it from cheap people." (Warren Buffett). Mirrors are your reflectors of truth and insight. Constructive feedback and honest conversations about one’s strengths, weaknesses and blind spots enable you to gain a deeper understanding of yourself and fuels growth.

 

"Perception is the co-pilot to reality. Sponsors can help shape perceptions."

 (Carla Harris). These people are typically in places of influence in organisations who champion and support a project, initiative or partnership. They are willing to put their reputation on the line by recommending you. They are good at scouting for talent, offering opportunities for growth and using their limelight and influence to promote your visibility and accomplishments.

 

“A worthy rival is a blessing in disguise, for they bring out the best in us, even when we don’t know its there” ( Stephen A. Schwarzman). Worthy rivals are individuals or entities who have the resources, skills to challenge you to continually do your best. They are after the same goal as you, have a strong reputation and provide a performance benchmark for you. They force you to grow and up your game at all times.

 

 Strategy is not just about competing, it’s about collaborating (John Chambers). These are collaborative agreements between two or more organisations to achieve a common goal, share resources and create mutual benefits. They can take various forms such as Joint Ventures, Licensing agreements, Partnerships etc.

 

Organisations and people can fall into more than one category in your relationship mapping and it's okay. It’s not necessary for them to know that they are part of your relationship and with some, you may not even meet with them personally but they still impact your life. To help you identify these individuals, you can ask yourself if you had a dinner party who would you invite to the table and why? Then place them strategically, if you do decide to engage them please put effort and consideration into the relationship. I have had people come to me for mentorship but when the rubber hits the road suddenly they dissolve into thin air. It’s a waste of precious time and resources.

 

Studies have confirmed that those who are intentional about investing in strategic relationships/ networks are more likely to advance faster and reach higher levels than those who do not. In the next letter I will talk about how to engage and maintain these relationships.