I watched a fantastic business webinar last month and they were discussing the core principles of what great businesses look like. One particular section that interested me was when Bryan Cumby, CEO of the Cumby Group, spoke about the importance of forming strong alliances across the business world. The mistake that many companies make is to think that everyone is their enemy or their competition, when in reality this just isn’t the case. There are some core principles which you must always expect from your partners however, and you too must offer them the same.
Honesty is a core principle if there was ever one and if your business genuinely seeks to make pacts and relationships across the business world then absolute honesty is the way to go about it. Now of course there is no expectation that you reveal everything about your business, that would be missing the point. The important thing here however is that when you do deal with your partners that you do so in an honest way.
Delivering on Promises
If you make a deal with another business then it is absolutely your responsibility to see it through and to come good on whatever it is that you have promised them. If you do not and you try to pull something then you are going to ruin any hope that you may have had about forming a strong relationship and you will have shattered the trust which was created between the two business. Building trust is not easy between business and if you do shatter that trust then it will not just be this business which no longer trusts you, but word will get out.
It is great of course if you and a business pattern have a great relationship which sees you both prosper but business is not always like that. In fact there will come a time when another business heavily needs your help and that is the time for you to step up and do just that. We reap what we sow in the world of business and this is why it is always important to ensure that you have done just about everything that you can to offer your hand, because one day it will be you who is looking for some support.
And finally it is absolutely critical that both you and those who you form relationships with share the same values with regards to how you operate and what your goals are. Having shared values with those who you enjoy working with is essential for no other reason than the general health of the relationship on the whole. Be share that you align yourself with someone who believes in what you do.
These are the core principles to stick to when it comes to forming strong bonds across the business world, the key to the success of any business.