damnedif

No business is an island. You need allies. These include loyal clients, service providers, vendors, business referrers, contractual partners, strategic partners and others. What type of allies you need depends upon what industry you are in. If you are a general contractor, you may need alliances with design professionals, subcontractors and suppliers – persons and entities who you know will treat you fairly and who will support your position when things go awry. If you’re in the real estate business, you may need allies who are brokers, bankers, appraisers and inspectors.

When I recently left my law firm to start an independent practice, I saw firsthand the value of business allies. Clients have not only continued with me, they have provided me with IT support, referrals, names of key service providers, support and encouragement. Vendors and service providers have given me special or at least fair deals. The lawyers and support staff at my former firm continue to be valuable allies in many aspects of my business. I get by with a little help from my friends.

Most any business needs trusted lawyers, accountants and insurance brokers. Don’t make the mistake of thinking that every professional with the same letters after their name is the same. Search out someone who you trust and have confidence in. Someone who has your back. Forge a long-term relationship that will last for many years. The efforts that you put in to find the right people will be repaid countless times over.

Business alliances are always a two-way street. Be ready to give something back, whatever that may be. It may simply mean paying your bills on time without complaint. My best clients do this, and I try to pay them back in spades. I’m much more likely to cut down my time for loyal, long-term clients. I will bend over backwards to find them the right professional that they need for a certain problem. I will consult with them for no charge on certain personal matters not within the scope of the normal business representation. Giving something back may mean referring others to your ally. It may simply mean being fair and honest in your financial dealings. It could just mean being available for advice and support. As stated above, it means having each other’s back when the going gets tough.

Trust and loyalty are the grease of private business and industry operations. This is especially so for small and mid-sized businesses and all service industries. Find loyal, trustworthy business allies, and running your business will be that much better.

By Adam P. Whitney, 617.338.7000