How to Get the Most out of Your Staff & Business Partners

How to get the most out of your Business Partner, Sales Staff, Marketing Team, Investors and the Mail Man..

One of the most important aspects of business planning is developing & maintaining your relationships with your staff & business partners. In business, we have relationships with hundreds of different people. These could be with our clients, suppliers, staff, business partners and even our investors. As entrepreneurs, we are frequently reminded that ‘happy staff sell’, ‘happy businesses succeed’ and that ‘good communication = good business.’ But what does that actually mean? What is ‘good communication?’ How can we set up effective and efficient relationships with our business partners and investors, to get the best out of each other?

I found some answers to these questions in the strangest of places. I recently got married, and my wife asked me to listen to an audio book with her called ‘The Five Love Languages,’ by Gary Chapman. His theory is that a successful marriage consists of both parties communicating effectively and understanding which ‘love language’ each other speaks, and alter their communication accordingly.

The five love languages are;
• Talking and spending time together,
• Giving gifts,
• Positive affirmations,
• Undertaking acts of service and
• Physical touch.

We communicate using all five of these languages, however, we all put more importance on different languages. For example, some people appreciate a box of chocolates more than the dishwasher being emptied.

When I was reflecting on this book, I realised that there is actually little difference between a marriage and a business partnership. You spend all day with each other, five days a week. You might see each other more than your partners. With this in mind, Gary’s theory can be applied not only to your relationship with your spouse or partner but also to your business partners, staff, investors, customers and even your suppliers.

Have a look at the five languages below and try to work out which one you use to communicate with, then see if you can work out your business partner’s or even customer’s language. Challenge for this week: communicate using their language and see what happens.

Talking and Spending time together –
This can be anything from having face to face meetings, working in the same office, walking around the block or daily/hourly phone calls. So many customers and clients want face to face meetings before doing business. This is not because they want an excuse to have a coffee, it is because they speak this language and it is the most efficient way of communicating (And selling) with them.

Acts of Service –
An act of service is doing something for someone else. This could be as simple as sending invoices, proposals or updating management accounts. It could even include making the teas in the morning. Are you someone who appreciates your business partner taking care of a certain task? These are all Acts of Service.

Positive Affirmations –
This is being positive, encouraging and supportive about somebodies work. For example, if your PA attempts to design the weekly ‘mailchimp’ newsletter out of the blue, and it’s not right don’t criticize and put them down. Be positive about them trying something new and talk about ways they could improve it. This shows that you want to encourage them to grow and by being positive you will encourage them to go the extra mile again.

Gifts –
Some people particularly appreciate presents. Examples include buying a cake on staff members’ birthdays, Christmas bonuses, and sending token gifts to suppliers at Christmas. These small gestures can mean a lot to ‘gift giving communicators.’ It’s often about the thought, rather than the cost.

Touching –
This might sound strange in the context of modern business, and should certainly be handled carefully. Clear boundaries are important: they are your business partner or PA, not your spouse. However, one of the oldest and best signs of appreciation is the pat on the back or a firm handshake. People often remember if someone important took the time to shake their hand. For some people physical contact means a lot.

So this week, explore and see what language you use to communicate and what language your business partner and sales leads use. See if you can speak their language when you communicate with them and what positive results you can achieve. Acceler8me can offer hr consultancy to help with you plan, implement and monitor your company structure and staffing breakdowns.

How to Evaluate my Business After the First Year?

I work with hundreds of Directors every year that ask themselves this same question. And not just directors of start-ups, but also large SMEs turning over millions every year in revenue. There are a number of reasons why directors feel this way, especially in the world of start-ups.

Goals and Targets

What is your company’s ultimate goal/target? And what ‘mini-goals’ do you have to hit along the way to reach it? The definition of being ‘lost’ is not knowing where you are or which direction you are going. How are you meant to know which way your business is heading if you don’t actually know what the finish line looks like? Are you managing your goals and targets through a CRM consultancy?

Changing Tack

Don’t be scared to try something new. If you are hitting your targets, but still not progressing, why don’t you try something different? Maybe look at selling to suppliers instead of the end user? Whatever you do make a change before you start to stagnate. Also, don’t be too hard on yourself. If you are hitting your targets, you might be doing better than you think!

Waiting for Investment

‘We can’t progress any further without investment’ = Excuse.

About 1 in every 10 companies I speak to can legitimately say they can’t proceed without capital investment; the other 9 in 10 use it as an excuse. If you want to attract investment, you need revenue and a working model. If you are waiting for investment, make sure you are earning revenue and proving your concept – then you might get investment quicker.

Sell

It is scary, sometimes unpleasant, and sometimes feels intrusive. However, if you want your business to work, you have to sell! This means jumping in at the deep end: picking up the phone, knocking on the doors, walking the streets, and selling your product/service. Yes, you can hire someone, or take on a non-exec or an equity partner who is good at selling. However, you still need to lead by example and sell yourself. You could consider staking on a sales strategy consultant?

Business Plan

An Entrepreneurs business plan is essentially the guide on how you are going to take over the world!

A business plan is not just to get investment. They are written so when we feel lost we can read it and remember our goals and where we are in the grand scheme of things. A good plan should include a detailed Timeline of how you plan to reach your business’s goal, by setting mini goals. And how you will achieve those goals by using your Marketing Plan and Sales Plans.

A business plan is a document that will ultimately stop you feeling lost. You don’t have to follow it like it is gospel, but as long as you believe what you have written in it and believe this is how your company will grow; you can ensure that consciously or subconsciously, you will follow it and your business will grow.

At Acceler8me we love to watch businesses and entrepreneurs grow. We help by giving you the support you need to make this a reality. We get you ready for investment and find you the money you need to start your start-up. .

If you ever feel stuck, don’t forget the team at Acceler8me will always be here to help you out.

Brad Channer,

Director