Page 69 - Lighting Magazine February 2019

gain based on a level of cooperation with others. Some of the business relationships we have are super cial; others have more depth and commitment. Regardless of the level of commitment to a relationship the players have, it is rarely built on strategy. Most o en, it is just a
weak association based on current circumstance. We can de ne a strategic partnership as an in-depth agreement between companies or individuals focused on the goal of achieving mutual success. The framework used to create these partnerships is the same for both internal and external partners. Internal partners can be de ned as employees, while external partners are comprised of our product suppliers, the vendors we use to support our operational e orts, and a
segment of our clients.
THe buILdInG bLocks requIred
When operating with a single focus, great e ort and energy is expended toward what on the surface appears to be a cordial business relationship; all the same, it is o en a win/lose interaction.
When old transactional interaction mentalities
dominate your sales e orts, it encourages the customer to do all they can to get an advantage over the seller. This happens because there is a lack of trust between the parties.
This brings us to the rst foundational step in every strategic business partnership: trust. Trust allows for precise, candid communication between the parties involved. This level of con dence fosters our long-term personal relationships. When applied to business, trust is built similarly in our strategic partnerships.
As trust is developed, partnerships ourish with the sharing of unique ideas and being open to discovering opportunities, each reaping advantages only provided by building the best results for the other. Sharing critical information and taking a rmative action becomes easy when each stakeholder is operating in the best interest of everyone involved.
suppLIers, reps & operaTIonaL
vendor parTners
A er trust is established, the showroom, rep agency, or vendor, must perform a SWOT analysis to identify the key objectives of those they wish
on the mark Successful
strategic partnerships are founded in a coherent collaboration that bene ts all of the players involved.
february 2019 | enLIGHTenment Magazine 65