In your business there are times when you come to a crossroads where you must decide which path to take. As an entrepreneur or business owner, life is full of small crossroads we take almost every day, but there are larger crossroads that help set us upon specific journeys.
One of the largest decisions to make regarding your business is to commit to a long-term working relationship with another business. This may be the act of deciding to forego one business goal to take on another. At times, it may also be about aligning your business with another business in some contractual working relationship.
I recently read an article by Stephen Covey that discussed synergy vs. compromise. Compromise is when two parties come to a consensus and move ahead. But in most compromises, things are given up so that 1 + 1 = 1 1â„2. On the flip side, synergy is when two parties work together to create something even better than what either could create. 1 + 1 = 10 (or maybe 100, or 1000 â€“ I often call this â€˜Marketing Mathâ€™ to my students). You want to be able to create synergies and not compromise your values, your goals, and your vision.
So, as you come to the crossroads with your business, look for opportunities to create synergies. Do not compromise!
Synergies are created when both parties drop the blame game,
the protectionist attitude, and the hidden agendas.
Â Synergies are created when both parties drop the blame game, the protectionist attitude, and the hidden agendas. Both parties must open up communication fully. They must have faith in eachÂ other and a conviction to create something better than each could create alone. They accept the other partyâ€™s view as valid (they do not have to agree with it, but simply accept it). Both parties must work hard to understand the other.
Synergy also must factor into account what each party brings to the table, and they must honor whatÂ they bring. These are not only physical resources and/or skills and talents. This also includes the vision and dreams the other party has for the future.
Synergy needs both parties to drop their guard and to be open to new ideas. The truly amazing synergies come not from following the best path originally proposed, but rather from following a new path neither could imagine until after both parties came together and began to think as one. This creates a new vision.
Finally, synergy must be built on respect and trust.
So, when at a crossroads in your life, choose the trail built on synergy and avoid the compromise.
VP Sales & Marketing Â Beacon News